Stephen Findeisen, also known as Coffeezilla on YouTube, has called out artificial intelligence company Rabbit AI for allegedly participating in an NFT scam and trying to cover it up. In a video on the Coffeezilla channel, Findeisen revealed that Rabbit AI, formerly known as Cyber Manufacture Co., raised $6 million for an NFT project called Gama. However, the CEO, Jesse Lyu, later stated in Discord messages that Rabbit AI would not be involved in crypto projects. Findeisen presented recordings of Lyu discussing ambitious plans for the Gama project, contradicting Lyu’s claims that it was just a “fun little project.”
Rabbit AI gained attention earlier this year, raising $30 million in venture capital and selling $20 million in consumer products. Despite their success, many do not know about the company’s involvement in the NFT space and the funding they raised for the Gama project. Coffeezilla expressed concerns about the allocation of the $6 million raised for the project, questioning where the funds were spent. He also criticized Rabbit AI’s overhyping of their R1 product, drawing comparisons with the exaggerated promises made by Gama.
Coffeezilla’s allegations against Rabbit AI are not isolated, as others have also expressed skepticism about the company’s offerings. Josh Olin, the founder of WeGPT, labeled Rabbit’s project as a “scam” aimed at luring in investors with promises of quick cash grab opportunities. Coffeezilla’s previous investigations have included exposing cryptocurrency scams, such as his coverage of popular influencer Logan Paul’s project CryptoZoo. Paul was a co-founder of CryptoZoo, a game that used its own cryptocurrency called ZooCoin and allowed buyers to purchase virtual animals with varying rarities that could be bred and traded as NFTs.
In a three-part series of videos, Coffeezilla alleged that CryptoZoo had been abandoned shortly after its launch and accused Paul of distancing himself from the project despite initially promoting it heavily. Paul responded to Coffeezilla’s allegations by blaming the co-founders and advisors of CryptoZoo for any potential wrongdoing and threatened to sue Coffeezilla for sensationalizing the story. The controversy surrounding Rabbit AI and CryptoZoo highlights the risks associated with investing in NFTs and cryptocurrency projects, as potential scams and fraudulent activities continue to impact the industry.
Overall, Coffeezilla’s investigations into Rabbit AI and CryptoZoo shed light on the deceptive practices and questionable actions of some companies operating in the NFT and cryptocurrency space. These incidents serve as a cautionary tale for investors and consumers, urging them to conduct thorough research and due diligence before participating in any projects or investing their money. As the popularity of NFTs and cryptocurrencies grows, it is essential to remain vigilant and skeptical of exaggerated claims and promises made by companies seeking to capitalize on the hype surrounding the industry.
