In the world of blockchain, “Rug pull” is not exclusive to anonymous individuals. Many celebrities or influencers also love to take advantage of the convenience of asset issuance to treat their fans as cash cows. Recently, basketball star Dwight Howard’s behavior on the Avalanche chain has become a controversial example.
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Howard promotes NFT series “Ballers by Dwight Howard”
After releasing NFT, token was released
On January 21st, Howard shared on his personal X account that the NFT series “Ballers by Dwight Howard,” which he incubated and led, is now available for minting at a price of 2 AVAX.
Little did he know that the floor price of the NFT had dropped to 0.5 AVAX just ten days after minting.
On January 28th, shortly after the NFT was released, Howard announced the launch of the token BALLS.
Just a few days after trading began, the token price seemed to skyrocket, only to plummet 99% from its peak and quickly return to its original value.
Whether it was the NFT or the token, both ended up with no success. Blockchain detective ZachXBT bluntly called Howard’s behavior a “quick rug pull.” The TG community was filled with criticism, with many expressing their intention to seek legal action to make Howard pay the price.
