YouTube investigator Stephen Findeisen, better known as “Coffeezilla,” has accused the AI company Rabbit of orchestrating an NFT scam and attempting to cover it up.
On May 21, Findeisen published a video on his Coffeezilla channel, revealing Rabbit AI’s involvement in NFTs.
He pointed out that the company, previously called Cyber Manufacture Co., had raised $6 million for an NFT project called Gama.
Years later, Rabbit AI’s founder and CEO, Jesse Lyu, tried to distance the company from its crypto past.
Findeisen highlighted Lyu’s statements on Discord, where Lyu asserted that the company would “never touch crypto” again.
Cointelegraph has reached out to Rabbit for comments.
Lyu explained that Gama was just a “fun little project” he participated in during the COVID-19 pandemic and that he left the project once the game was open-sourced.
However, Findeisen unveiled recordings of Lyu discussing ambitious plans for the NFT project. In these recordings, Lyu talked about investing millions to make Gama “a next-level experience.”
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He stated:“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 where the $6 million raised for the Gama project went, given Lyu’s grand promises.
According to Coffeezilla, the company claimed that the funds were solely used for the NFT project.
Despite this, Coffeezilla argued that Rabbit should still be scrutinized, as it is built on the remnants of the Gama project. He also criticized the company’s viral R1 product, stating:
“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.”
In addition to Findeisen, others have criticized Rabbit’s R1 product as an “AI grift.”
On January 14, WeGPT founder and CEO Josh Olin claimed on X that Rabbit’s project was a “scam.”
Olin described the company’s product as a quick cash grab aimed at deceiving investors.
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