The founders of Niftify have executed a rug pull on their investors. In a blatant breach of trust, they initially garnered substantial investments from unsuspecting backers under the guise of developing an innovative and promising NFT marketplace platform. However, instead of diligently working on the project as promised, they diverted the funds for their personal gain, leaving their investors high and dry.
This betrayal of trust has had far-reaching consequences, not only damaging the reputation of Niftify but also eroding confidence in the broader cryptocurrency ecosystem. Investors, both novice and seasoned, had placed their faith and hard-earned money into the project. Regrettably, their trust was misplaced, as the founders callously exploited their belief in the project's potential.
As the situation unraveled, investors desperately reached out to the founders for explanations and updates on the project's status, only to be met with complete silence and indifference. The founders, seemingly devoid of any moral compass, turned a blind eye to their responsibilities and the financial turmoil they had caused, further intensifying the sense of betrayal. In addition to the deceitful rug pull, Niftify's founders also left a trail of unpaid debts to service providers who had collaborated with them in good faith.
The repercussions of Niftify's actions extend beyond the immediate financial losses suffered by investors and service providers. They serve as a stark reminder of the need for transparency, accountability, and regulatory oversight within the cryptocurrency and blockchain industry. This incident highlights the importance of conducting thorough due diligence and scrutinizing the credibility of projects before investing, as well as the necessity for stronger legal protections to prevent such flagrant breaches of trust in the future.
As the cryptocurrency space continues to evolve, it is crucial that the community collectively condemns such unethical practices, and that regulatory bodies work to establish safeguards that protect investors and maintain the integrity of this rapidly growing sector. Only through these measures can we hope to mitigate the risk of future rug pulls and uphold the principles of transparency and trust that are essential for the long-term success of blockchain technology and cryptocurrencies.
Niftify, as described by its founders, stands as a groundbreaking third-party platform with a vision to reshape the commerce landscape. It was conceived with the ambition of offering a new dimension to creators, collectors, entrepreneurs, and brands alike. Niftify embarks on a mission to foster a thriving community of NFT enthusiasts that encompasses content creators, traders, collectors, and more, all of whom are eager to participate in the seamless buying, selling, or trading of NFTs.
Numerous existing NFT marketplaces require a certain level of programming expertise for effective use, which adds layers of complexity and reduces accessibility. These platforms often feature intricate interfaces that can be challenging to navigate, demanding a deep understanding of trading and coding skills. This, in turn, isolates potential newcomers and places time constraints on experienced traders.
The timeline for developing a custom NFT marketplace from scratch extends to a minimum of six months. For a marketplace fortified with advanced features, stringent legal protections, and robust security measures, this endeavor can stretch to a formidable 12 to 18 months. Even the process of establishing a white-labeled NFT marketplace through developer engagement proves to be a demanding and time-consuming undertaking, requiring anywhere from 500 to 1,000 hours to complete a marketplace with default features. This process involves a series of meetings, extensive communication, and, to top it all off, substantial developer fees that can reach the upper echelons of the cost spectrum.
Bruno Ver, Co-founder and CEO - As per the information shared by Bruno Ver, he is an accomplished entrepreneur and a former Microsoft employee who currently leads Niftify. His initial venture into the cryptocurrency world dates back to 2011 when he first encountered Bitcoin, which was being embraced as the preferred method of payment by developers in a previous project. For further details about Bruno Ver, you can visit his personal website at:
Marko Vidrih, Co-founder and COO - According to the details provided by Marko Vidrih, he is a highly regarded Slovenian researcher, analyst, and writer, serving as the Chief Operating Officer at Niftify. With a wealth of experience spanning technology, finance, and economics, Marko Vidrih plays a pivotal role within Niftify's leadership team. He is also one of the co-founders of Creatus AI, a groundbreaking AI-driven text-to-video platform that is revolutionizing the content creation landscape.
In addition to his role at Creatus AI, Marko Vidrih is the founder of elVivia, a company that specializes in providing marketing services, including content marketing, media relations, graphic design, and more. Furthermore, according to his LinkedIn profile, he has contributed his expertise to the European Commission, where he was involved in activities such as aligning methodologies with research objectives, utilizing various tools for information acquisition and data interpretation, compiling reports, delivering presentations, and identifying emerging trends and patterns.
Emil Sterndorff, the Co-founder and Chief Strategy Officer (CSO), has an intriguing background that traces its roots back to Denmark, as he has shared. His journey into the world of entrepreneurship commenced at a remarkably young age when he stumbled upon the art of buying and selling. His initial ventures involved turning a profit from vintage road bikes and even offering haircuts to his peers. These early forays into business hinted at his entrepreneurial spirit and an innate ability to identify opportunities in the market.
Emil Sterndorff's entrepreneurial journey took an interesting turn when he ventured into The Capital Platform.
The Capital Platform, as described by its own promotions, is not just any ordinary platform. It aspires to be a groundbreaking social network, offering unique monetization tools and cutting-edge AI integrations for content creators and their devoted fans. In an era where content creation has become a thriving industry, The Capital Platform aims to revolutionize the way creators interact with their audience and generate income from their work.
Emil Sterndorff's past involvement has consistently raised serious doubts, and his current dedication to The Capital Platform fails to dispel those concerns regarding his commitment to stagnate the development of social networks in the modern digital landscape.
Another Key Team Member
Jener Sakiri | Chief Legal Officer - According to his LinkedIn profile:
An experienced transactional attorney with a specialization in corporate and blockchain law. His career has been dedicated to providing expert counsel in various areas, including advising on the issuance of equity through VC financings (Reg D, S, CF) and equity incentive plans. Additionally, He has a track record of drafting comprehensive commercial contracts for SaaS products, partnerships, and joint ventures, as well as IP License Agreements, NDAs, and more.
Jener Sakiri is also a principal at Sakiri Law Group, P.C., as indicated on his LinkedIn profile. In this capacity, he handles legal matters for private clients across various domains. These include, but are not limited to, intellectual property and music management, record label contracts, negotiation, formation, and dispute resolution.
It's important to note that when Jener Sakiri received a legal letter prior to proceedings from one of Niftify's investors, he did not respond in a manner befitting a legal professional. His response, characterized by false claims, fell short of the professional standards expected of lawyers in such situations.
Communication between Cointelligence and a Niftify investor
In the screenshot below, you will find a communication between Cointelligence Fund and another investor who has invested in Niftify.
If you are wondering why we didn't provide evidence for this scam alert, see the LinkedIn conversation below:
We strongly advise everyone to stay away from Niftify or its co-founders. We will continue to update with more information as soon as we find additional details to share.