Is the "Modern Fairy" NFT Collection a Scam?

I had plans for a different article, but I believe raising awareness of the situation with some NFT collections is more important and warnings should be given.

Some devs are producing collections intending to scam collectors with fake promises and abandoning the project right after.

The case of Modern Fairy has a similar approach, a collection by @PrimeBCH and another anonymous person (@TechnicalJihad1) that have now disappeared.

Sadly, everyone invested in this collection (Modern Fairy) lost their money. Was it a scam? Was the team honest? Was it the bear market that crippled the potential of this project?

I write this article, to raise awareness so my readers will avoid losing money to unprofessional and shady projects, and join only projects that are being transparent and have better chances of delivering their promises.

I didn't expect Modern Fairy to be a scam when it was released, but I have to wonder today what exactly it turned into if not a scam.

Modern Fairies Abandoned - Investors Lost Their Money (7.91BCH)

This NFT collection attracted 7.91BCH during its mint phase, and the team abandoned it just a week later.

Not sure what the goals of some people are, but it seems they are happy to abandon their project and make a run for it after grabbing a few BCH, instead of working to create a name for themselves, that would profit them way more than just 7BCH with an honest approach.

Instead, they tarnish their reputation for money enough to buy them pizza and sodas for a week or a month. And then, they will probably start all over again with different nicknames, trying to ask for more.

But, when they mess with a community it is their loss. You see, you could have grown your name into someone credible and honest. This is what all communities want to have people they can trust, but you decided to grab BCH from a few investors and disappear with ridiculous excuses.

Fairy NFTs sales on OASIS

Modern Fairy had just 15 NFTs sold on OASIS. There was interest for a while but quickly evaporated, since the project had no other plan rather than quickly grabbing some BCH and exiting.

A few words:

@PrimeBCH is one of the two behind this project and should start a refunding procedure for the investors since the project failed and didn't deliver its promises.

It is actions that matter, not words.

From telegram.

This is where all seriousness is lost. What kind of bear market is this person talking about? Who is he fooling?

You released your project in a market that has the same conditions today.

It could have been different, but this person decided to mock his investors.

The bear market! This is exactly what a scammer would say.

I've seen similar responses in the past by scammers while exiting their ICOs of 2018-2020 and not refunding anyone.

This is the second person involved in this project (TechnicalJihad1) who teamed up with @PrimeBCH for this collection.

Can't tell I was convinced enough by these amateurs from the beginning. I minted a limited number of NFTs anyway, just in case, as chances for success were not limited with the high interest in NFTs in smartBCH. The team failed though, by abandoning this project and not delivering their promises.

So, since it failed, it should refund those who participated in the mint since the value of these NFTs is now zero, the minting process is stuck and the project is not developing anything of what it promised.

It is now completely abandoned and I don't really understand if this guy PrimeBCH thinks he is not responsible, still being around, but he should understand what steps to take to rectify and pay back those that invested in this failure.

Cause right now @PrimeBCH has lost all credibility. and this is a blow for any future projects this person is planning.

(source)

According to this post on telegram, it seems that the project belongs to PrimeBCH, while he is also asking for extra donations.

(source)

If the team behind this project wants to come clean, and not be considered scammers, they should begin a refund procedure. But as it seems this team was only "cooking" its exit strategy.

If the team doesn't refund the Fairy investors, then this was just a scam as it was advertised with promises of staking and token rewards.

The excuse of a "bear market" is enough to convince me they are trying to find an exit and not meet disgruntled investors.

In Conclusion

PrimeBCH by the way is the creator of the BCH & SBCH Influencers NFTs.

I don't know if PrimeBCH actually got permission from the influencers as he/she claims. If there was no permission, then this is a whole different level of trouble.

Anyway, investors of Modern Fairy are waiting for a refund.

The failure is on the team that didn't proceed with promised developments.

It is not the fault of the bear market, and not the investors' fault either. The team grabbed the BCH, and one month later the NFTs are worth nothing as the team was not backing their claims.

The project is now abandoned, and broken promises are justified as a result of a "bear market".

Not an honest approach, and as patience runs out, the reputation of those involved with this project is severely damaged.

Cover Photo by geralt, on Pixabay

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