Coffeezilla calls out AI firm Rabbit over alleged NFT scam — TradingView News

YouTube investigator Stephen Findeisen, better known as “Coffeezilla,” has accused the artificial intelligence (AI) company Rabbit of orchestrating a nonfungible token (NFT) scam and attempting to conceal it.

On May 21, Findeisen published a video on the Coffeezilla channel revealing Rabbit AI’s involvement in NFTs. The YouTube sleuth pointed out that the company was previously called Cyber Manufacture Co. and raised $6 million for an NFT project called Gama.

However, a few years later, Rabbit AI’s founder and CEO Jesse Lyu drew a line between crypto and the company’s new image. Findeisen highlighted Lyu’s Discord statements saying the company will “never touch crypto.”

Cointelegraph has approached Rabbit for comment.

Lyu also explained that Gama was only a “fun little project” he was involved with during the COVID-19 pandemic. The Rabbit founder wrote that he left the project once the game they did was open-sourced.

While Lyu downplayed Gama as a small project, Findeisen revealed recordings of Lyu explaining their grand vision for the NFT endeavor. In the recordings, Lyu said they were dumping millions into the project to ensure Gama becomes “a next-level experience.” Lyu said:

“NFTs are only just the beginning […] After NFTs, we have these huge groundbreaking ideas about Gamaverse, and then after that, we have these again, huge, groundbreaking ideas about clean energy versus Gama Coin.”

Because of Lyu’s promises, Findeisen questioned where the $6 million funding raised for the Gama project went. According to Coffeezilla, the company claimed the funds were only used for the NFT project.

Despite this, Coffeezilla said it should still concern Rabbit as it’s built on the remains of the Gama project. Findeisen also highlighted that the company’s viral R1 product was also overhyped. He said:

“So many of the promises of Gama didn’t happen. This is relevant to the R1 not just because this project is built on the skeleton of that scam project, it’s also because the R1 is overhyped in a similar way.”

Apart from Findeisen, others believe that Rabbit’s R1 product is an “AI grift.” On Jan. 14, WeGPT founder and CEO Josh Olin alleged on X that Rabbit’s project was a “scam.” Olin described the company’s product as a quick cash grab that aimed to bait investors.