YouTube Detective Coffeezilla Accuses AI Firm Rabbit of NFT Scam and Overhyping Products
Summary:
YouTube investigator “Coffeezilla” has accused AI firm Rabbit of carrying out an NFT scam and trying to hide it. Rabbit, formerly Cyber Manufacture Co., obtained $6 million for an NFT project named Gama. However, later, Rabbit AI’s CEO Jesse Lyu distanced the firm from any crypto involvement. Further, Coffeezilla pointed out that promised elements of Rabbit’s projects, such as Gama and the R1 product, were not fulfilled or overhyped. Other critics have gone on to express suspicion about Rabbit’s R1 product, calling it a potential “AI grift.”
Stephen Findeisen, a YouTube investigator known as “Coffeezilla,” has publicly called out artificial intelligence corporation Rabbit, alleging that it carried out a nonfungible token (NFT) scheme and attempted to hide it. In a video posted to the Coffeezilla channel on May 21, Findeisen unveiled Rabbit AI’s dealings in NFTs. Findeisen emphasized that Rabbit, formerly identified as Cyber Manufacture Co., had secured $6 million in backing for an NFT endeavor known as Gama. The same source, Coffeezilla, reported these findings. However, sometime later, Jesse Lyu, the founder and CEO of Rabbit AI, distanced the company's new persona from any crypto dealings. In response to Lyu's Discord comments stating the company would "never touch crypto," Cointelegraph reached out to Rabbit for a formal statement. Lyu also downplayed Gama, referring to it as a "fun little project" he took part in during the COVID-19 lockdown. Even after Lyu downplayed Gama's significance, Findeisen unveiled recordings in which Lyu discussed their ambitious plans for the NFT venture. In the audio clips, Lyu can be heard stating that they were investing significant financial resources into Gama, intending to provide a "next-level experience." He went further to suggest the initiative for Gama extended beyond just NFT, hinting at grand plans for a “Gamaverse” and gave mention to equally transformative ideas regarding clean energy versus Gama Coin. Findeisen, skeptical of Lyu's promises, raised questions regarding the application of the $6 million amassed for the Gama initiative, noting that Rabbit's claims only considered the funding utilized for the NFT project. Coffeezilla expressed concern for Rabbit’s standing, believing Gama's remnants to be the foundation for its subsequent endeavors. Furthermore, Findeisen drew attention to Rabbit’s much-hyped R1 product, which he claims was also overestimated. Other detractors have since come forward, voicing suspicions of Rabbit’s R1 product as potential “AI grift.” On January 14, Josh Olin accused Rabbit of running a "scam project." Olin, who presently operates as the founder and CEO of WeGPT, criticized Rabbit's product as a rapid money-making ploy aimed at luring investors.
Published At
5/22/2024 11:11:15 AM
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