YouTuber Stephen Findeisen, also known as “Coffeezilla,” has accused Rabbit, an artificial intelligence (AI) company, of operating a nonfungible token (NFT) scam.
Discoveries published a video on the Coffeezilla channel on May 21 that exposed the participation of Rabbit AI in NFTs. Cyber Manufacture Co. was the organization’s previous name, and it raised $6 million for the NFT project Gama, according to the YouTube investigator.
However, Jesse Liu, founder and CEO of Rabbit AI, distinguished crypto from the company’s new image a few years later. Findeisen emphasized Lyu’s Discord declarations that the organization would “never touch cryptocurrencies.”
Additionally, Lyu defined Gama as a “fun little project” in which he participated while the COVID-19 pandemic unfolded. After the Rabbit team’s game became open-source, the project’s founder stated in an article that he departed.
Although Lyu minimized Gama as a minor undertaking, Findeisen disclosed audio recordings featuring Lyu expressing their expansive vision for the NFT undertaking. Lyu stated in the tapes that it would cost millions of dollars to ensure that Gama evolved into “an experience of the next generation.” Lyu declared:
“NFTs are only just the beginning […] After NFTs, we have these huge groundbreaking ideas about Gamaverse, and then after that, we have these again, huge, groundbreaking ideas about clean energy versus Gama Coin.”
Findeisen questioned the whereabouts of the $6 million in funding raised for the Gama initiative due to Lyu’s assurances. Coffeezilla reports that the organization maintained the funds were utilized exclusively for the NFT initiative.
Notwithstanding this, Coffeezilla asserted that Rabbit should remain concerned due to its construction upon the remnants of the Gama project. Findeisen also emphasized that the company’s viral R1 product was exaggerated. What he stated was:
“So many of the promises of Gama didn’t happen. This is relevant to the R1 not just because this project is built on the skeleton of that scam project, it’s also because the R1 is overhyped in a similar way.”
Other than Findeisen, some consider Rabbit’s R1 an “AI grift.” Josh Olin, founder and CEO of WeGPT, claimed on X on January 14 that the Rabbit initiative was a “scam.” To entice investors, Olin characterized the organization’s product as a “quick cash grab.”
