Rabbit

ZachXBT

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YouTube investigator Stephen Findeisen, better known as “Coffeezilla,” has accused the artificial intelligence (AI) company Rabbit of orchestrating a nonfungible token (NFT) scam and attempting to conceal it.
On May 21, Findeisen <a href="https://www.youtube.com/watch?v=NPOHf20slZg" target="_blank" rel="noopener noreferrer nofollow">published</a> a video on the Coffeezilla channel revealing Rabbit AI’s involvement in NFTs. The YouTube sleuth pointed out that the company was previously called Cyber Manufacture Co. and raised $6 million for an NFT project called Gama.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-05/da8810ae-6a02-4401-9945-7ae1f8916c26.jpg">
 <figcaption style="text-align: center;">Source: <a href="https://x.com/coffeebreak_YT/status/1792962211264245943" target="_blank" rel="noopener noreferrer nofollow">Coffeezilla</a>
 </figcaption>
</figure>
However, a few years later, Rabbit AI’s founder and CEO Jesse Lyu drew a line between crypto and the company’s new image. Findeisen highlighted Lyu’s Discord statements saying the company will “never touch crypto.”
Cointelegraph has approached Rabbit for comment.
Lyu also explained that Gama was only a “fun little project” he was involved with during the COVID-19 pandemic. The Rabbit founder wrote that he left the project once the game they did was open-sourced.
While Lyu downplayed Gama as a small project, Findeisen revealed recordings of Lyu explaining their grand vision for the NFT endeavor. In the recordings, Lyu said they were dumping millions into the project to ensure Gama becomes “a next-level experience.” Lyu said:
<blockquote data-ct-non-breakable="true">
 “NFTs are only just the beginning [...] After NFTs, we have these huge groundbreaking ideas about Gamaverse, and then after that, we have these again, huge, groundbreaking ideas about clean energy versus Gama Coin.”
</blockquote>
Because of Lyu’s promises, Findeisen questioned where the $6 million funding raised for the Gama project went. According to Coffeezilla, the company claimed the funds were only used for the NFT project.
Related: <a href="https://cointelegraph.com/news/youtuber-ksi-pump-dump-allegations" rel="noopener noreferrer nofollow">YouTuber KSI faces pump-and-dump allegations from ZachXBT and Coffeezilla</a>
Despite this, Coffeezilla said it should still concern Rabbit as it’s built on the remains of the Gama project. Findeisen also highlighted that the company’s viral R1 product was also overhyped. He said:
<blockquote data-ct-non-breakable="true">
 “So many of the promises of Gama didn’t happen. This is relevant to the R1 not just because this project is built on the skeleton of that scam project, it’s also because the R1 is overhyped in a similar way.”
</blockquote>
Apart from Findeisen, others believe that Rabbit’s R1 product is an “AI grift.” On Jan. 14, WeGPT founder and CEO Josh Olin <a href="https://x.com/jd_2020/status/1746516564482883591" target="_blank" rel="noopener noreferrer nofollow">alleged</a> on X that Rabbit’s project was a “scam.” Olin described the company’s product as a quick cash grab that aimed to bait investors.
Magazine: <a href="https://cointelegraph.com/magazine/bybit-notcoin-listing-debacle-china-firm-profit-after-crypto-buy-asia-express/" rel="noopener noreferrer nofollow">Bybit’s Notcoin listing debacle, China firm’s profits up 12-fold after crypto buy: Asia Express</a>

Coffeezilla calls out AI firm Rabbit over alleged NFT scam

Cointelegraph

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