Dodoor Tops The NFT Charts, But It’s Not What It Seems

During the last week, an NFT undertaking referred to as Dodoor has risen to the highest of the NFT charts on OpenSea. This assortment of 1 thousand generative Dodo NFTs is now sitting atop the trending charts and is just under BAYC in gross sales quantity. These statistics present an thrilling NFT undertaking that’s doing exceptionally properly. Nonetheless, not everyone seems to be assured in regards to the Dodoor NFT assortment. Members of the NFT neighborhood are elevating questions in regards to the undertaking’s legitimacy with accusations of it being one other NFT rip-off, utilizing market manipulation.

Image of a cartoon dodo NFT character from the Dodoor project
The Dodoor NFT undertaking is high of the trending charts on OpenSea, however is it reputable? Credit score: Dodoor #522

Dodoor, the trending NFT assortment

In response to OpenSea, Dodoor is the primary assortment of 1000 NFTs from the Limitless Dimension – also called UDverse.

The NFTs are vibrant and colourful Dodo birds with numerous traits. The present ground worth of a Dodoor NFT is 2.1 ETH, and there has already been over 2100 ETH in commerce quantity because the undertaking started in September.

One of many primary considerations within the NFT Twitter neighborhood in regards to the Dodoor undertaking is the very fact has seemingly appeared within the NFT charts in a single day, with little engagement or publicity on social media.

Surprisingly for a Twitter web page with over 125 thousand followers, they’ve little or no engagement.

Well-liked NFT knowledge professional @punk9059 tweeted, “I’m confused by this Dodoor undertaking. It’s the #1 set on OpenSea. It has the next ground than RENGA. I don’t know a single one who’s ever talked about it, and once I seek for it on Twitter, I see spam giveaways. And it’s verified on @opensea”.

One other difficulty that raises concern in regards to the undertaking is the lack of awareness in regards to the workforce behind the undertaking. The web site lists the workers as Jim, Wyatt, Noah, and Lesia, with no further details about them.

During the last two years, the NFT neighborhood has labored arduous to ascertain key crimson flag indicators. Lack of workers data is unquestionably one crimson flag to contemplate.

Is the Dodoor undertaking reputable?

To date, there isn’t any proof to counsel the workforce is planning to commit any crimes. Nonetheless, there are a number of crimson flags, and folks ought to use warning if wanting to purchase one of many NFTs.

Considerably, within the Twitter thread by @punk9059, one other knowledge professional, @0xDataWolf, additionally shared what they’ve gathered on the trending Dodoor NFT undertaking.

In a tweet, they stated, “The community of the wallets are fairly interconnected that I get a hairball. Usually, some unconnected wallets are sprinkled round, but it surely looks as if this isn’t the case within the 1st pic: Dodoor. 2nd pic: Otherside. Wash buying and selling?”

image of data ball in red with black background in the Dodoor NFT project.
Information exhibiting the quantity of wallets which might be interconnected within the Dodoor NFT undertaking. Credit score: @0xDataWolf

They shared two pictures exhibiting the hyperlinks between wallets related to 2 NFT tasks – DoDoor and Otherdeed for Otherside.

The primary picture (above), displaying the information on DoDoor exhibits an enormous quantity of related wallets with practically no impartial wallets. This illustrates that a whole lot of wallets have connections with one another.

Nonetheless, the second picture (under), from Otherdeed for Otherside, has many unconnected wallets.

You may count on this picture from most NFT tasks utilizing comparable evaluation. Importantly, it exhibits unconnected folks buying NFTs unaware of one another. Additionally, lots of the wallets containing Dodoor NFTs are model new and don’t have anything else, which raises questions.

Image of data showing NFT wallets in the Otherdeed for Otherside project
Information exhibiting wallets within the Otherside NFT undertaking, exhibiting far much less related wallets. Credit score: @0xDataWolf

Market manipulation is on the rise

Due to the information and evaluation by @punk9059, @0xDataWolf, and others, the NFT Twitter neighborhood is warning folks to have warning when approaching the Dodoor NFT undertaking.

It’s arduous to say whether or not this NFT undertaking makes use of market manipulation with out concrete proof. Nonetheless, due to the massive bot Twitter following, low engagement, related NFT wallets, lack of workforce data, and different crimson flags, it’s regarding.

As with all NFT tasks, be sure to analysis totally earlier than committing to buy an NFT. Lastly, at all times preserve updated with present NFT scams and the most recent NFT safety measures.

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