“Ponzi” schemes promise high financial returns or dividends not available through traditional investments. Instead of investing the funds of victims, however, the con artist pays “dividends” to initial investors using the funds of subsequent investors.
Here is a black list of digital Ponzi scheme scams:
1. Big Tech ML/DL/DNNs: Big Tech's AI as a Massive Multi-Trillion Fraud
2. Blockchain 100+ cryptocurrencies, money laundering tools, lost $1 trillion
3. Meta Matrix-like Metaverse, a digital reality that combines social media, online gaming, augmented reality (AR), virtual reality (VR), and cryptocurrencies to allow using users virtually
4. Blockchain NFTs, money laundering tools, trading fictions as virtual items, virtual real estates, such as digital plots of land, digital collectables and artworks, etc.
Speculative auctions of digital art as NFTs, with the work "Merge" bubbled for $91.8 million and Everydays at US$69.3 million.
The University of California, Berkeley, is cashing in on the buzz around NFTs.
It is auctioning the NFTs for the patent disclosures of two Nobel Prize-winning inventions: CRISPR-Cas9 gene editing and cancer immunotherapy, on a speculative Ethereum/Ponzi platform, while the university will continue to own the related patents.
Welcome to the digital “Ponzi” schemes promising high financial returns or dividends not available through traditional investments.