In recent weeks, influencers have been praising @souljaboy for his involvement in new NFT projects, hoping to gain clout. However, ZachXBT’s research has shown that Soulja Boy has been one of the most shameless promoters in the crypto space, with 73 promotions and 16 NFT dr...
In recent weeks, influencers have been praising @souljaboy for his involvement in new NFT projects, hoping to gain clout. However, ZachXBT’s research has shown that Soulja Boy has been one of the most shameless promoters in the crypto space, with 73 promotions and 16 NFT drops to his name, many of which were scams.
Despite being based in the US and expected to follow FTC guidelines, Soulja Boy has continuously ignored these regulations. Recently, he faced charges from the SEC for Tron and was sued for Safemoon.
Examples of scam involvement
RapDoge
On July 19, 2021, Soulja Boy tweeted about pumping $RAPDOGE, which ultimately rug pulled after receiving support from other influencers like Lil Yachty and Quavo.
Orion & The Life Token
These projects exploited cancer and suicide prevention charities to inflate their value. Orion rugged within a month, while The Life Token was abandoned in early 2022.
SaferMars
In a now-deleted tweet, Soulja Boy accidentally revealed his compensation details for promoting SaferMars. The project rug pulled shortly after.
Flokinomics
Soulja Boy promoted this scam that claimed to be created by Elon Musk and paid for media features. Eventually, the project’s Twitter and website were deleted.
ParrotsDAO
After Soulja Boy encouraged his followers to “Get yo money up and stake,” the project rug pulled within 24 hours, and he deleted all evidence.
Questionable NFT Drops
In 2021 alone, Soulja Boy dropped nine different NFT collections. One such collection, SouljaBoyNFT, promised utility but is now offline. In April 2023, he released seven additional NFTs. One of these NFTs included a 3D Ferrari and Nike logo, which was quickly blocked from OpenSea due to IP infringement.
Many of his recent NFT drops have advertised utility, such as exclusive content for an upcoming blockchain video game and member-only benefits. Despite this, he continues to create new NFTs while disregarding previous buyers.
Estimated Earnings from Crypto Promotions
During the last crypto bull run, Soulja Boy charged up to $12,000 for Instagram and $10,000 for Twitter promotions. Using these figures, his promotions would have earned him an estimated $730,000, not including funds from his various NFT collections.
As Soulja Boy continues to participate in the crypto space, potential buyers and investors should be cautious and conduct thorough research before getting involved with any projects he promotes.