iX World’s & Debt Field’s IN8 NFT grift collapses

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iX World’s IN8 NFT grift, purportedly working on Debt Field’s expertise, has collapsed.

As per a March twenty seventh message to buyers on IN8’s web site;

As of yesterday blockchain vendor DEBT has positioned the IN8 venture on a short lived pause.

We now have turn into conscious of latest enterprise challenges involving DEBT and we regrettably want to tell you that sure members of the DEBT Council have determined to indefinitely “pause” the minting of IN8.

iX World doesn’t go into what the “new enterprise challenges” are. BehindMLM famous securities fraud in our January IN8 NFT article, however securities fraud has been unlawful within the US since 1933.

On account of the unspecified “new enterprise challenges”, iX World suggested buyers;

We now have determined that the easiest way to maneuver ahead is to declare the venture non-viable and request that DEBT refund your minting charges.

What does this imply for you:

  1. Your IN8 NFTs are now not eligible for any token reward from IN8
  2. Your minting charges must be refunded by the DEBT V2 system by DEBT

IN8 was constructed round IN8 tokens. iX World associates invested in $25 NFT positions, which supplied entry to a “staking” funding scheme.

With Debt Field and iX World already targets of an SEC lawsuit alleging securities fraud, doubling down with a brand new unregistered securities providing appeared fairly silly.

Whereas we will’t affirm securities fraud is the explanation Debt Field pulled the plug on the IN8 backend, we will affirm the grift was a large flop.

Since launching in January 2024, IN8 NFT web site visitors has been too low for SimilarWeb to trace.

This doesn’t come as a shock for quite a lot of causes:

  1. The SEC’s ongoing lawsuit towards Debt Field and iX World alleges $49 million in securities fraud
  2. the vast majority of iX World buyers look like Indians who obtained screwed over in Debt Field’s unique unregistered securities providing
  3. the Indian investigation into iX World is ongoing, with an open arrest warrant issued for founder and CEO Joe Martinez

I’m not anticipating any however pending any additional IN8 NFT updates, we’ll hold you posted.