NFT Ethics has provided a thread that Cereal Club is likely a Rug. For the following reasons:
- Dutch auction at worst would net the team $11m
- Team is completely anon
- No Real Roadmap
- Claims of Venture Capital and Fortune 500 Companies (with 0 evidence)
- Discrepancies in the discord between OG members and WL spots for mods.
As with everything in NFT space please do your own research. Not all projects are required to have amazing roadmaps / utility to be successful. In that case community is everything. With the discord being closed off, it’s hard to know what is really going on. We have contacted the team for comments.
1/ CerealClub that is minting today is a scam. Associated with Squiggles and having a mint price of 0.5 (via a Dutch auction going to 0.1), which worst case would net the project >$11 million USD. Team is completely anonymous and pic.twitter.com/AHW8mTkmwV
— NFT Ethics (@NFTethics) February 15, 2022
What is Cereal Club NFT?
Cereal Club – a collectible non-fungibowl driven community of members who will empower web3 across the NFT ecosystem ——— 🥣Public Launch Date: Feb 15 – 8 PM EST
10,000 CEREAL MUNCHERS.
PIONEERING A NEW
RECIPES MADE UNDER THE CEREAL CLUB ARE TAILORED TO BE UNIQUE JUST TO YOU.
Owning a Genesis Cereal Club bowl grants you access to Roadmap 1.0 along with every partnership roadmap from 2022 and beyond.
Cereal Club is a collection of algorithmically generated munchers minted as NFTs on the Ethereum blockchain. The 1st generation of 10,000 cereal club munchers will get exclusive access to the ecosystem. Each muncher has different bowls, colors, charms, body types, some rarer than others, and… there are rumors that they will evolve based on what type of cereal it eats.
Cereal Club Roadmap
-Cereal Club Cereal Line
-Augmented Reality Labs