In the world of blockchain, “Rug pull” is not exclusive to anonymous individuals. Many celebrities or internet celebrities also love to take advantage of the convenience of issuing assets to exploit their fans. Recently, basketball star Dwight Howard’s behavior on the Avalanche chain has been a controversial example.
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Howard promotes NFT series “Ballers by Dwight Howard”
After issuing NFT, he issues tokens
On January 21st, Howard shared on his personal X account that the NFT series “Ballers by Dwight Howard,” which he had incubated and led, was open for minting at a price of 2 AVAX.
Little did he know that the floor price of the NFT had dropped to 0.5 AVAX just ten days after minting.
On January 28th, shortly after the NFT was issued, Howard announced the launch of the token BALLS.
Just a few days after trading began, the token price seemed to skyrocket, but then it plummeted 99% from its peak, quickly returning to its original value.
Whether it’s issuing NFT or tokens, the end result is ultimately futile. ZachXBT, a detective on the chain, bluntly stated that Howard’s behavior was undoubtedly a “Quick rug pull.” The TG community, in particular, expressed their anger and vowed to seek legal avenues to make Howard pay the price.
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