Is Grass an example of the Perfect Scam®?
I've never really bothered to pursuit all those telegram crypto airdrop games as I found this not time efficient.
Recently I read a piece by @hallmann The Perfect Scam, or ZenCoin Case Study. The article is in Polish, so I'll just sum it up:
ZenCoin aka ZAI is, in my opinion, a perfect scam. Mainly because it is not formally a scam, so no one can be accused of anything. The airdrop was carried out. Everyone got their share. And since the share is ridiculously small - no one promised anyone anything.
Source: https://hive.blog/polish/@hallmann/scam-doskonaly-czyli-studium-przypadku
ZenCoin operators earned ton of $ out ads and abandoned their project.
Since having read that, I started to look at other projects from that perspective and it stroke me - this is the general market rule not exception.
So let's look at the Grass from that perspective and find common points.
You could have gotten ZAI by :
clicking on the screen (you could then hear a stick tapping on a wooden box)
starting a few-minute meditation every day
taking part in a lottery
recommending the app to other users
being active on X
watching short films on YTclicking on the screen (you could then hear a stick tapping on a wooden box)
starting a few-minute meditation every day
taking part in a lottery
being active on X
watching short films on YT
You can get GRASS POINTS* by:
running the app leasing them your Internet bandwidth
recommending the app to other users
While ZEN owners earned $ from YouTube ads, the people behind the Grass (supposedly) earn by providing 'petabyte-scale multimodal data scraping on a daily basis' to AI developers.
Grass token =/= grass points
The machanism behind the Grass token and the Grass points. For your Internet bandwidth you receive Grass points that are to entitle you to a grass token airdrop. No exchange rate is set. No airdrop date is set. No promises. No accountability whatsoever, they can even exclude you from airdrop without any wrongdoing on your behalf.
Look at their Terms and Conditions:
Grass will determine the eligibility criteria for participation in any Airdrop or the Grass Airdrop Program, including with respect to the claiming or receipt of Grass Tokens and the number of Grass Tokens to be distributed to eligible participants.
Grass reserves the right to disqualify or exclude any actual or potential participant that it deems ineligible for participation in any Airdrop or the Grass Airdrop Program, including as a result of the participant’s actual or alleged breach of these Airdrop Program Terms or the General Terms.
Eligible participants may receive different amounts of Grass Tokens depending on the criteria determined by Grass in connection with the applicable Airdrop.
Is this the way it should be?
I must admit that I'm spoiled by Hive's simplicity and fairness - what's yours it's yours period - and the general reality of crypto projects strikes me. I'm not claiming the Grass is a scam, but I claim it can very well be one and you can't do a thing about it.
The real business model of Grass may be much more lucrative than the value that tokens could potentially offer in the future.
Technically, if they decide to introduce another airdrop of the GRASS token (they're not obliged to do it, they may), you can't call it a scam because even a $1 airdrop would mean they have acted in accordance with the rules they set.
This business model is based on one-sided benefit for the app creators. Users are given the illusion of value, while at the same time giving away their resources in the hope of receiving something in return in the future. There is also an issue of points distribution.
All of this remind me more of Pi Network or Worldcoin... Too harsh? Maybe, however, this is crypto and we should be relying on blockchain not on trust and with the Grass project you trust them to give away a lot of cash for free. Yep, it's for free because they already got what they required and they're not obliged to pay a dime...
Hello jocieprosza!
It's nice to let you know that your article will take 12th place.
Your post is among 15 Best articles voted 7 days ago by the @hive-lu | King Lucoin Curator by polish.hive
You receive 🎖 0.2 unique LUBEST tokens as a reward. You can support Lu world and your curator, then he and you will receive 10x more of the winning token. There is a buyout offer waiting for him on the stock exchange. All you need to do is reblog Daily Report 571 with your winnings.
Buy Lu on the Hive-Engine exchange | World of Lu created by szejq
STOP
or to resume write a wordSTART