YouTube investigator Stephen Findeisen, also known as "Coffeezilla," has accused Rabbit, an artificial intelligence (AI) company, of orchestrating a scam involving nonfungible tokens (NFTs) and attempting to cover it up.
In a video posted on May 21 on the Coffeezilla channel, Findeisen revealed Rabbit AI's involvement in NFTs. He pointed out that the company, formerly known as Cyber Manufacture Co., had raised $6 million for an NFT project named Gama.
However, a few years later, Rabbit AI's founder and CEO, Jesse Lyu, distanced the company from crypto, stating in Discord messages that they would "never touch crypto." Lyu also portrayed Gama as merely a "fun little project" during the COVID-19 pandemic and claimed to have left the project once it was open-sourced.
Contrary to Lyu's characterization, Findeisen presented recordings of Lyu discussing ambitious plans for the Gama project. In these recordings, Lyu spoke about investing millions to make Gama "a next-level experience" beyond just NFTs, with visions of a broader "Gamaverse" and concepts like clean energy versus Gama Coin.
Findeisen questioned where the $6 million raised for Gama went, given Lyu's ambitious promises. Although Rabbit claimed the funds were solely for the NFT project, Findeisen argued that Rabbit's foundation was still rooted in the Gama project, raising concerns.
Additionally, Findeisen criticized Rabbit's viral R1 product as overhyped and suggested that it shared similarities with the unfulfilled promises of the Gama project. Others, including WeGPT founder and CEO Josh Olin, have echoed these sentiments, alleging that Rabbit's R1 product is an "AI grift" and describing it as a scam aimed at attracting investors for quick profits.
May 2024, Cryptoniteuae