Floyd Mayweather launches new NFT project despite shady past in crypto space

On April 13, retired nonrecreational boxer Floyd Mayweather volition motorboat a caller non-fungible token (NFT) project, dubbed Mayweverse, that would connection crypto enthusiasts a postulation of 5,000 NFTs that tin beryllium minted for 0.3 Ethereum (ETH) each. 

Mayweverse launches connected Wednesday April 13th
More details astir the mint connected our discord!

RT if you are Ready 🥊 pic.twitter.com/T8Mz4YpzXe

— Mayweverse 🥊 | Launch 13th April (@Mayweverse) April 10, 2022

Following the announcement, however, galore idiosyncratic began raising concerns, chiefly owed to Mayweather’s arguably arguable way grounds successful the NFT sector. A pseudonymous on-chain detective, known arsenic “Zachbxt” connected CryptoTwitter, opined that it would beryllium irrational for anyone to put successful the task fixed the fig of NFT rug pulls the boxer has allegedly been progressive in.

Mayweather’s failed projects and promos

Hitherto, the boxer had already launched respective NFT projects that galore users considered dilatory rug pulls. The archetypal 1 was Floyds World NFT launched successful August 2021. The postulation of 11,111 tokens was sold astatine 0.15 ETH per NFT, with the developers making implicit 1,000 ETH from the minting.

Mayweather was besides among the large promoters of Bored Bunny NFTs which turned retired to beryllium a massive rug pull arsenic users who bought into the task mislaid implicit $20 million.

How galore months earlier this task dilatory rugs?

You’d person to beryllium anserine to wage 0.3 ETH for this with the way grounds Floyd has successful crypto.

>abandoned his past 2 NFTs projects
>promoted countless rugs undisclosed

Sad to deliberation Floyd volition inactive pouch $4.9m. https://t.co/Y1gBxmdDbC

— zachxbt (@zachxbt) April 9, 2022

Apart from NFTs, Mayweather has an arguably chequered past of promoting crypto projects successful general. For example, helium was 1 of respective celebrities who promoted a comparatively chartless token EthereumMax successful 2021, wearing boxing shorts with its sanction during his accumulation lucifer with Logan Paul.

Other celebrities specified arsenic Kim Kardashian and Paul Pierce besides promoted the token, helping inflate its all-time precocious terms earlier crashing. The aforementioned three, on with EthereumMax developers themselves, are present facing a class-action lawsuit with allegations of being progressive successful a pump and dump scheme.

Centra's (CTR) ICO starts successful a fewer hours. Get yours earlier they merchantability out, I got excavation https://t.co/nSiCaZ274l pic.twitter.com/dB6wV0EROJ

— Floyd Mayweather (@FloydMayweather) September 18, 2017

Mayweather besides received $100,000 for promoting Centra Tech’s archetypal coin offering successful 2017, for which helium was aboriginal charged alongside DJ Khaled by the U.S. Securities and Exchange Commission (SEC). Back then, the project’s offering brought successful 113,934 ETH, worthy roughly  $25 cardinal astatine the time.

Due to his involvement, the SEC sued Mayweather for failing to disclose that compensation, and helium aboriginal opted to settee the lawsuit by paying implicit $600,000 and agreeing to not beforehand immoderate securities for 3 years.

Once bitten, doubly shy

Given Mayweather’s way grounds of engagement successful alleged rug pulls and pump and dump schemes, galore person called for regulators to support retail investors by going aft him.

But the boxer claims that Mayweverse is simply a morganatic task this clip around. In a nonstop connection to Zachbxt, Mayweather asked for the latter’s captious station to beryllium removed and claimed that he’s “in the NFT abstraction to stay.”

Does Floyd merit a 12th chance?

After profiting tens of millions from Ethereum Max, Bored Bunny, Real Floyd NFT, Moonshot, 2018 ICOs, & more. pic.twitter.com/yj9STkUXEI

— zachxbt (@zachxbt) April 10, 2022

Notably, Mayweather besides promised that his caller task “will beryllium followed by a Metaverse,” but it remains to beryllium seen whether this leopard tin alteration its spots.