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The 5thScape presale project has raised big funds, claiming $6,736,956 out of a $7,500,000 goal. There are numerous red flags that suggest this project might be a scam. Let's dive into the concerns surrounding 5thScape and why potential investors should be cautious.
One of the most alarming signs is the lack of visible progress. Despite raising millions of dollars, there is no real proof of development. For a project aiming to create a complex VR/AR platform, this lack of progress is a major concern. The funds raised should have led to some real developments, but 5thScape has shown none.
The team behind 5thScape is doxxed, but their qualifications for their positions are questionable:
The 5thScape whitepaper outlines the tokenomics, but the information provided does not inspire confidence. The fact that 100% of the liquidity is unlocked at the Token Generation Event (TGE) is extremely unsafe. This setup allows for the possibility of a rug pull, where the project creators can withdraw all the liquidity, leaving investors with worthless tokens. This practice is a significant red flag and is typically associated with scams or poorly managed projects.
Collaborations are crucial for the success of such an ambitious project. 5thScape has not announced any collaborations, which casts doubt on their claims of building a massive VR platform. If they were serious about their goals, collaborations would be essential to their strategy. It is also very strange that there is no venture capital or big gaming corporate backing them despite such a massive presale and fundraising.
Despite their claims, 5thScape has not provided any proof of actual progress. This lack of openness is troubling. Investors deserve to see progress and results, especially when large funds are involved.
5thScape claims to have conducted an audit for their smart contract. However, the smart contract shows no implementation of functionality related to any product within their ecosystem. It is essentially an average token with no special features or use cases.
When searching for 5thScape news online, it is clear that the project is being heavily promoted by well-known websites known for pushing questionable projects. This includes networks like Finixio, which are more famous for pump-and-dump schemes than for delivering real value. This association further damages 5thScape’s trustworthiness.
Many investors are drawn to the 5thScape crypto presale due to potential high returns. While some price predictions are optimistic, the project's many red flags suggest caution. The lack of transparency and questionable practices make it risky.
While 5thScape has raised a large amount of money, there are numerous red flags suggesting it may be a scam. The lack of progress, questionable team qualifications, absence of collaborations, and heavy promotion by dubious sources all point to significant risks for investors. Unfortunately, we are late to this party, and many have already invested. We hope the project launches successfully, but the signs indicate that the project's primary goal might be to take investors' money without delivering on its promises.
Investors should move forward with extreme caution and do thorough research before committing any funds to 5thScape.