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NBA Star De’Aaron Fox Scrapped NFT Project Suspected of 1.5M Rug Pull

NBA Star De’Aaron Fox Scrapped NFT Project Suspected of 1.5M Rug Pull

The basketball player, representing the Sacramento Kings, has allegedly left his fans hanging after raking in $1.5 million from his NFT project.

Non-fungible tokens have been part of the celebrity culture for a few months now, with several stars releasing legit NFT projects for fans to enjoy. However, some of them failed to produce what they had promised.

In mid-December of 2021, the NBA player De’Aaron Fox released his first NFT called SwipaTheFox, and launched a full collection in January of 2022. The project had a road map with promises for the metaverse, chances to win tickets to basketball games, and earning scholarships. At the time, the NFT project generated somewhere around 475 ETH.

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However, according to a post by a Twitter user named @web3isgreat, who shares blogs on the "mishaps" in the digital asset industry, the project suddenly collapsed on February 23rd, and all the social media accounts related to it were gone.

To mitigate the situation, Fox unsuccessfully tried to explain the situation, arguing that it wasn’t the right time for him to release the project, and he will go back to it as soon as he was ready.

However, investors were fuming since the player did not tell them beforehand that the project was going to be shut down soon, which obviously suggested an apparent rug pull. The player allegedly took off with $1.5 million, and his project’s NFTs are currently averaging 0.009 ETH, which is just over $24.

Aaron S., Editor-In-Chief
Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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