Stephen Findeisen, also known as Coffeezilla on YouTube, has recently accused the artificial intelligence company Rabbit AI of being involved in a nonfungible token (NFT) scam and trying to cover it up. In a video on the Coffeezilla channel, he revealed Rabbit AI’s alleged participation in the NFT space. The company, previously known as Cyber Manufacture Co., raised $6 million for an NFT project named Gama. Despite the founder and CEO of Rabbit AI, Jesse Lyu, distancing the company from cryptocurrencies, Findeisen presented recordings contradicting Lyu’s claims about ambitious plans for the Gama project.
Lyu initially described Gama as a “fun little project” he participated in during the COVID-19 pandemic and stated he had left the project once the associated game was open-sourced. However, Findeisen’s recordings showed Lyu discussing investing millions into Gama to create a groundbreaking NFT experience, along with plans for the Gamaverse concept and a clean energy initiative related to Gama Coin. Findeisen raised concerns about the $6 million funding for the Gama project and questioned where the money was allocated. Additionally, he criticized the overhyped nature of Rabbit AI’s viral R1 product and drew parallels between the exaggerated promises made by both Gama and R1.
Rabbit AI gained attention earlier this year when it raised $30 million in venture capital and sold $20 million in consumer products. However, many are unaware of the company’s past as Cyber Manufacture Co. and their involvement in the NFT space. Coffeezilla’s allegations are not unfounded, as others have also expressed skepticism about Rabbit AI’s offerings. Josh Olin, CEO of WeGPT, previously called Rabbit’s project a “scam” designed to quickly attract investors. Coffeezilla has a track record of uncovering crypto scams and previously targeted YouTuber Logan Paul and his project CryptoZoo, which he alleged had been largely abandoned post-launch.
CryptoZoo, launched in September 2021, utilized its own cryptocurrency called ZooCoin, with users able to purchase “eggs” that would hatch into randomized animals with different rarities. These animals could be bred to create NFTs that could be held or burned to earn more ZooCoin. Coffeezilla’s investigations into CryptoZoo led to allegations of abandonment and mismanagement of the project. In response, Logan Paul blamed the co-founders and advisors of CryptoZoo for any issues and threatened legal action against Coffeezilla for sensationalizing the story.
Stephen Findeisen’s allegations against Rabbit AI and previous involvement with Logan Paul’s CryptoZoo project highlight the need for transparency and due diligence in the cryptocurrency and NFT space. Investors should be cautious and conduct thorough research before participating in projects promising high returns or revolutionary tech. Coffeezilla’s investigative work serves as a reminder of the risks involved in emerging markets and the importance of holding companies accountable for their actions. As the digital asset landscape continues to evolve, it is essential for consumers to stay informed and cautious to avoid falling victim to scams and fraudulent schemes.
