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Soulja Boy And His Involvement In Cryptocurrency

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According to reports, according to research by internet detective ZachXBT, Soulja Boy, a rapper who has transformed into a cryptocurrency enthusiast, has promoted dozens of cryptoc

Soulja Boy And His Involvement In Cryptocurrency

According to reports, according to research by internet detective ZachXBT, Soulja Boy, a rapper who has transformed into a cryptocurrency enthusiast, has promoted dozens of cryptocurrency and NFT projects, some of which later proved to be scams. Soulja Boy boasted about Bitcoin’s revenue in the 2018 song “Bitcoin” and released the 3D NFT series earlier this month. According to ZachXBT, Soulja Boy has posted 73 tweets about various encryption projects and NFTs since March 2021. He also issued a now defunct token RAPDOGE in 2021. ZachXBT also pointed out promotional activities for tokens such as SaferMars, which turned out to be a carpet style scam. According to ZachXBT, Soulja Boy’s social media promotion to his millions of fans is estimated to have netted him over 730000 US dollars.

Rap singer Soulja Boy is suspected of promoting fraudulent NFT projects

Cryptocurrency and NFTs have been making waves in the entertainment world lately, with many celebrities endorsing various projects. However, not all of them have proven to be legitimate investments. One rapper who has been heavily promoting cryptocurrency and NFTs is Soulja Boy, also known as Young Drako. An internet detective, ZachXBT, has uncovered some concerning information about Soulja Boy’s involvement in these investments. Let’s take a closer look at what ZachXBT found.

Who is Soulja Boy?

Before we dive into his involvement with cryptocurrency and NFTs, let’s briefly introduce who Soulja Boy is. He is a well-known rapper who gained fame in the mid-2000s with his song “Crank That (Soulja Boy).” He has continued to release music and has also ventured into other industries such as fashion and gaming.

Soulja Boy’s Promotion of Cryptocurrency and NFTs

Soulja Boy has been actively promoting various cryptocurrency and NFT projects on social media since March 2021. According to ZachXBT, he has posted at least 73 tweets about these investments. In 2018, Soulja Boy even released a song titled “Bitcoin” where he boasted about the revenue he made from the cryptocurrency. Additionally, in September 2021, he released a 3D NFT series.
However, not all of the projects that Soulja Boy promoted turned out to be legitimate investments. ZachXBT pointed out that Soulja Boy promoted tokens such as SaferMars which later turned out to be a scam. Soulja Boy also released a token named RAPDOGE which is now defunct. These promotions have raised concerns about Soulja Boy’s due diligence in researching these investments and the potential harm his followers may have faced.

Soulja Boy’s Earnings from Promoting Cryptocurrency and NFTs

According to ZachXBT, Soulja Boy’s promotion of various cryptocurrency and NFT projects estimated that he netted over $730,000 USD. This figure is based on the number of followers on his social media accounts and the projected earnings from such promotions.

Conclusion

Soulja Boy’s enthusiasm for cryptocurrency and NFTs is admirable, but his lack of due diligence in promoting these investments has raised concerns. It is important for celebrities and influencers to conduct proper research before promoting any investment, especially those that may be unfamiliar to them.

FAQs

1. Is Soulja Boy solely responsible for promoting questionable investments in cryptocurrency and NFTs?
No, many celebrities and influencers have promoted investments that later turned out to be scams. It is important for everyone to conduct proper research before investing in anything.
2. Can followers of Soulja Boy take legal action against him for promoting scam investments?
There is no clear answer to this question, as it would depend on the specific circumstances of the case. It is always recommended to seek professional legal advice.
3. Should people completely avoid investing in cryptocurrency and NFTs because of the risks associated with them?
No, not necessarily. It is important to conduct proper research and due diligence before investing in anything, including cryptocurrency and NFTs. There are many legitimate projects and investments in these industries that can be profitable.

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