Rapper Lil Durk is under fire for an alleged NFT Scam where users paid up to $500 for NXTG3NZ shoes that were never delivered.
The announcement of his NFT shoe company, NextGen, generated alot hype because this venture promised to combine NFT technology with actual physical footwear. The company initially sold $500 NFT shoes that were minted on the Algorand blockchain, which also included the possibility of receiving real shoes.
However, a change in the company's message and production delays raised concerns within that ecosystem when NextGen's Discord community grew frustrated, and the host of an investigative video by the name of FrugalBC was blocked from the server.
Little Durk remained silent about the project, and on-chain data analysis revealed that fewer than 200 NFT shoes were sold, casting doubt on the company's viability. With no response to inquiries, the fate of the promised physical shoes remains uncertain, leaving many to question whether NextGen is a legitimate endeavor or a potential scam. This case serves as a reminder to exercise caution and conduct due diligence when engaging in NFT and cryptocurrency investments.