Mark Cubins NFT company has been promoting very suspicious NFT projects. Instagram has removed Mark Cuban's NFT account because of the constant disregard of the platforms policy. One of the main reasons why this account was removed and will not be reinstated is due to promoting other NFT projects without labeling the posts as ads / promotions. This is a problem when you are getting paid millions of dollars to promote less than reputable NFT collections, especially with how many scams are currently being uncovered. We can see from this spreadsheet that 4 of the promoted projects became rug pulls and 2 of them were rugged even before there were any mints. In a screen shot of one of these projects contacting Mark Cuban we can see that they charge a minimum of 100k per campaign / promotion that they ran. They charged around 25k per post but you would purchase a packaged deal where they would make 5 posts and specifically detailed that they would NOT be labeled as ads. This was done to try and create genuine hype around the NFT project. Meaning that just from this chart they made over 3.5 million dollars.
Spreadsheet from TSF | Space Cowboy@Twitter
Who was in Charge:
Mark Cubin is a Co-Founder and a confirmed "investor" in this NFT company that promoted these other projects. When asked if he was involved in this Mark Cuban stated he was not involved with operations and pushed towards two other business associates Jason Falovitch and Aaron Avruskin. You would think a business man like Mark Cuban who is owns stake in over 56 companies would know the simple policy on Instagram, where if you are being paid to promote something you have to let people know. However because there is a lot on the line he claims ignorance and is trying to step away from all of this. Jason Falovitch on the other hand said this is what he loves to do, he doesn't do it for the money at all. Doing this is what he loves to do and he is very grateful he could wake up every morning to do what he loved. I'm sure that just about anyone in the world would love to wake up every morning, make a post on Instagram and get paid 25k. However most people with a conscious, a soul or even half a brain cell would have made it clear that all of these posts were ads. The entire business model of this "NFT Company" was to promote other NFT projects using Mark Cubans name and make money off Instagram posts. They used his name to gain the trust of other people and give more credit towards the projects that they promoted. The people working on this "project" claimed to do their due diligence on these projects they promoted, but didn't do their due diligence when it comes to the entire business plan? This does not make any sense and they only reasonable explanation is they took money from anyone who was willing to pay out the 100k.
Conclusion:
We have seen many crypto scams from influencers over the past few months. If you see a coin being actively promoted by an influencer / celebrity then do not buy it , and if you own some of it make sure you sell. All of these influencers / celebrities are greedy pieces of shit and apparently tens or even hundreds of millions of dollars is just not enough for them. So they want to take money away from their fans.
