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Lana Rhoades abandons her NFT project following $1.8m launch

By Daniela Ešnerová


Updated

Lana Rhoades on OpenSea
Crypto Sis is a collection of 6,069 unique NFT's based on Lana Rhoades – Credit: OpenSea

Former adult entertainment actress Lana Rhoades has seemingly abandoned her non-fungible tokens (NFT) project after the launch raised $1.8m (£1.3m), transferring out 509 ethereum (ETH) worth $1.5m, according to internet investigator Coffeezilla.

The social media influencer with over 20 million followers on her social media accounts first introduced the NFT project dubbed ‘CryptoSis’ in November 2021.

CryptoSis is a collection of 6,069 cartoon illustrations of Lana on OpenSea, the biggest NFT marketplace. The project was pitched as an 'NFT franchise' with more influencers joining in the future.

Rhoades promoted the project heavily on her social media. She also made a point of her long-term commitment to the project. In a question and answer, hosted on her Instagram, Rhoades said before the launch: “This is not a one-time thing, we have other models signed to create their own CryptoSis NFT collections next. The brand + value of CryptoSis NFT's make it a lucrative investment for holders that they can sell for more than they paid to mint.”

“My #1 goal for the project is to increase the value of @cryptosisnft’s investment for holders that they can sell for more than they paid to mint.”

Lana Rhoades CryptoSis Instagram Q&A.Lana Rhoades CryptoSis Instagram Q&A. – Credit: Instagram

“We have tons of preparation for after-market marketing to help raise the floor price and profit all our members. We are working for an instant 2x - 5x,” she wrote of the possible value of the NFTs following the launch.

Rhoades promised the NFTs would have secondary perks such as whitelists for drops and collaborations, “playing” with Rhoades, future CryptoSis models in the metaverse, inside metaverse clubhouses/communities or real-life tangible items and merchandise.

BTC/USD

100,131.60 Price
+0.140% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 50.00

XRP/USD

2.58 Price
+1.940% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 0.01288

ETH/USD

3,995.77 Price
-0.380% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 1.75

XLM/USD

0.49 Price
-0.610% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 0.00246

The project website had a roadmap with specific steps, none of which were never followed through and shortly after the 22 January launch, Rhoades disappeared from the Discord channel and deleted several promos. Those moves, along with the transfer of 509 ETHs attracted the attention of Coffeezilla, which launched a series of Tweets earlier this month.

Coffezilla shared some of the Cryptosis Discord posts, one of which said: “I spent what I can lose. Spent 4k. On total I had 6K. Man I’m left with 2k only. No job and I have a 2 yo son. If only bought my christmas Lana.”

“Now I want to clarify/state why Lana hasn't been around much the past few days, whenever she was hosting her AMA [ask me anything] the day after mint and discussing the future of the project, she was very shocked and upset by the amount of negativity and rude comments she was seeing in that chat. I know that everyone wants to make money with their project but you guys need to know only way to attract real investors and other people to purchase is POSITIVITY. Being negative in chats doesn't help anything or anyone. I would love for her to come back to a super supportive and happy community and this would also boost the total moral of this project,” an admin Discord post read, a screenshot of which was shared by Coffezilla.

Rhoades, as well as Victoria Daniel, Rhoades' representative and founder of PreludeManagement, and Carter Jamison, an 18-year-old entrepreneur, who are listed as the CryptoSis team were approached for a comment.

Earlier this week, Coffezilla posted a video on YouTube, where he details the case.

Markets in this article

ETH/USD
Ethereum / USD
3995.77 USD
-15.06 -0.380%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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