YouTube investigator Stephen Findeisen, popularly known as “Coffeezilla,” has accused Rabbit, an artificial intelligence (AI) company, of orchestrating a scam involving nonfungible tokens (NFTs) and attempting to cover it up.
On May 21, Findeisen released a video on his Coffeezilla channel, revealing Rabbit AI’s involvement in NFTs. In the video, the YouTube sleuth pointed out that Rabbit AI was previously known as Cyber Manufacture Co. and had raised $6 million for an NFT project called Gama.
However, a few years later, Rabbit AI’s founder and CEO, Jesse Lyu, distanced the company from the crypto world and its previous image. Findeisen highlighted Lyu’s statements on Discord, where he claimed that the company would never be involved in crypto.
Cointelegraph has reached out to Rabbit for a comment on these allegations.
Lyu also clarified that Gama was merely a “fun little project” he was involved in during the COVID-19 pandemic. According to Lyu, he left the project once the game they were working on became open-source.
Despite Lyu downplaying Gama as a small project, Findeisen presented recordings of Lyu discussing their ambitious vision for the NFT venture. In these recordings, Lyu mentioned that they were investing millions into the project to ensure that Gama would offer a “next-level experience.” Lyu stated:
“Because of Lyu’s promises, Findeisen raised questions about where the $6 million raised for the Gama project went. According to Coffeezilla, the company claimed that the funds were solely used for the NFT project.
In addition to this, Coffeezilla argued that Rabbit should still be a cause for concern as it is built on the remnants of the Gama project. Findeisen also pointed out that Rabbit’s viral R1 product was overhyped. He stated:
“Besides Findeisen, others also believe that Rabbit’s R1 product is an “AI grift.” On January 14, Josh Olin, the founder and CEO of WeGPT, alleged on X that Rabbit’s project was a scam. Olin described the company’s product as a quick cash grab designed to lure in investors.
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