NFTs, DAOs & Web3

What is an NFT rug pull?

An NFT rug pull is a scam where the creators of an NFT project promote it, collect buyers' money, then abandon the project and disappear, leaving holders with assets that have little or no value. The team often deletes social channels, stops development, and may drain the project's funds. For example, a collection might promise a game or future utility, sell out quickly, and then go silent within days. Rug pulls are a known risk in unregulated NFT markets, which is why checking team transparency and project history matters before buying.