How Not to Fall for NFT Scammers: A Guide for Emerging Artists

Hey fellow artists,

You know that feeling when you're trying to make a breakthrough in the art world? You're hustling on social media, tweaking your website, and feeling a bit lost in the sea of endless possibilities. You just want someone to notice your work. And then, out of nowhere, it happens—someone shows interest in your art! You're over the moon, thinking, "Finally, my moment has come!"

But hold up. They want to buy your artwork as an NFT. Wait, what? NFT? You quickly Google it. Okay, it stands for Non-Fungible Token. Seems straightforward enough. Digital ownership of your art, blockchain, yada yada. But what do you do now? Someone actually wants to buy your art! Cue the excitement and a bit of panic.

The Excitement of a New Opportunity

You’ve heard stories of artists making a killing by selling their digital art, and you think, "Why not me?" But let me share a little story about the dark side of this glittering world—the NFT scammers.

As an artist who's been there, I feel it's my duty to share some tips to keep you safe from these digital tricksters. I’ve had my share of dodgy encounters, and if my experience can save even one of you from falling into their traps, it’s worth it.

Picture this: You get a message from someone who’s interested in buying your art as an NFT. The offer seems too good to be true. They’re enthusiastic, they promise big bucks, and you’re already daydreaming about what you’ll do with all that money.

But wait. Let’s pump the brakes a bit.

Spotting the Red Flags

1. Too Good to Be True Offers

• When someone offers an unrealistically high price for your artwork without much negotiation, it’s a major red flag. Real buyers usually have a budget and will discuss it with you.

1. Vague References

• If they mention past collaborations or purchases but can’t provide solid references or proof, be wary. Real buyers should have a portfolio or verifiable transactions.

1. Insistence on Specific Platforms

• Scammers often push you to use specific, obscure platforms for the transaction. Stick to well-known, reputable platforms like OpenSea, Rarible, or Foundation.

1. Pressure to Act Quickly

• They’ll try to rush you into making a decision. Genuine buyers understand that you need time to verify and think things through.

My Experience with a NFT Scammer

So, there I was - an emerging artist, thrilled about a message from a supposed art dealer. They offered a big money per piece. My heart was racing. I asked for references, and they gave me a name. But when I tried to find this person online, there was no trace of them.

I dug deeper and asked more questions. The answers were vague, and the pressure to proceed was intense. That’s when I realized something was off.

How to Protect Yourself

1. Verify Identities

• Check their online presence. Google their name, look for their social media profiles, and see if they have a credible history in the art world.

1. Ask for References

• Don’t hesitate to ask for references from artists they’ve previously worked with. A genuine buyer will have no problem providing this.

1. Use Reputable Platforms

• Only use well-known NFT marketplaces for your transactions. These platforms offer some level of security and have measures in place to protect you.

1. Trust Your Gut

• If something feels off, it probably is. Don’t ignore your instincts. It’s better to walk away from a potential sale than to fall into a scam.

Communicating with Potential Buyers

Now, let’s talk about how to communicate with those who express interest in your art. Here is a little guide, some tips and questions to help you stay genuine and vulnerable while uncovering the true nature of the other person.

1. Be Friendly but Professional

• Start with a friendly greeting, but keep the conversation professional. Show genuine interest in their inquiry, but maintain a level of formality.

1. Ask the Right Questions

• "Can you tell me more about your interest in my work?"

• This helps gauge their genuine interest and knowledge about your art.

• "Have you purchased NFTs from other artists? Can you share their names?"

• A legitimate buyer will have a history of transactions and won’t hesitate to share details.

• "Which platforms do you usually use for NFT transactions?"

• This question helps ensure they are familiar with reputable platforms.

• "Can you provide any references or past collaborations?"

• Genuine buyers will be happy to provide references.

1. Be Transparent About Your Process

• "I prefer to conduct transactions through [Platform]. Are you familiar with it?"

• This sets clear expectations about where and how the transaction will take place.

• "For my security, I’d like to verify your identity and previous purchases. Is that okay with you?"

• Honest buyers will understand your need for security and will comply.

1. Stay Authentic and Vulnerable

• Share your excitement and a bit of your journey, but avoid oversharing personal details. For example:

• "I’m really excited about the possibility of selling my art as NFTs. It’s a new venture for me, and I want to ensure it’s done right."

• This keeps the conversation genuine and shows that you are open, but also careful.

1. Watch for Evasive Answers

• Pay attention to how they respond to your questions. Evasive or overly vague answers are a red flag.

Examples of NFT scam

Stay Safe and Keep Creating

The world of NFTs is exciting and full of potential, but like any new frontier, it’s rife with risks. Stay vigilant, do your due diligence, and remember that not every inquiry is genuine.

You’re a talented artist, and your work deserves to be protected. Don’t let scammers tarnish your journey. Keep your head up, stay informed, and happy creating!

Stay safe in the world of NFTs!

With love and a dash of caution,

Johana