Is Metakings a Scam Project?

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Metakings is an AI-powered battling world where anyone can earn incentives like tokens and NFTs by playing well and contributing to the ecosystem. Combat, resource gathering, character development, and the establishment of land-based kingdoms are all available to players. The Metakings token ($MTK), the game’s official token, will fuel the game. In-game characters can also be gathered as NFTs and traded for tokens on our official NFT marketplace.

For Metakings, the native currency is $MTK. Players can utilize $MTK to mint characters, mint arenas, hire and sell on the Metakings Marketplace, and extend the lives of their characters. A total of 1,000,000,000 $MTK tokens are available. Liquidity will be restricted, and Game awards will be vested for a period of six months.

@0xtanjero, a Twitter user, started a thread suggesting that $MTK is a fraud scheme. The user claims that the website is in good shape, but he cannot say the same for the smart contract and its developer.

   “NGL, is too fishy

Is $Mtk A Scam Project
Is $MTK a scam project?

The developer or creator of the project has the ability to withdraw $BNB from the project’s pool; this is the first red flag to stay away from; the creator of this project owns a number of other coins, and individuals have lost money as a result of these projects.

Does the user believe there might be a possibility that it’s the same person creating all of these?

Metakings (MTK) is the governing token of the Metakings Universe, according to the whitepaper. It’s a token worth BEP-20. If MTK holders stake their tokens, participate in the game, and vote on crucial governance issues, they will be eligible for bonuses. Players will also be able to earn $MTK through engaging in various games inside the Metakings Universe as well as submitting user-generated content.

Initially, the creator sent himself 50 million $MTK and 20 million $MTK. However, it’s clear that they aren’t so stupid as to store all of their money in one account, which would scare away the fish they’re trying to catch in the net. #Pump and #dump is a simple scheme.

A classic pump and dump scheme involves people pumping up the value of a crypto asset in order to increase its value. According to Douglas Horn, chief architect of Telos Core Developers, as prices rise, the pump creators dump their assets into the FOMO they’ve created, resulting in a price crash that leaves new buyers holding a bag of assets that are now worth less than they were when they were purchased, causing significant and often unrecoverable losses.

@0xtanjero believes the #token creator has dispersed 20 million $MTK to various dump #addresses, with the top 200 accounts owning the platform’s maximum supply of $MTK. He does this so that investors believe the enterprise is legitimate and that the supply is distributed evenly.

It’s also worth noting that all of the addresses in the top 20 have been used to mint scam tokens (e.g., $MMdex(.)io), so one should be wary of this project and interact with it at their own risk.

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Aadrika Sharma
Aadrika Sharma

I enjoy writing and try to learn new things every passing day!

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