After Facebook Changed To Meta, More Than 100 Tokens Named Meta Were Created With False Descriptions, Teams And Partners

Another scam that is trending now is the use of the name “Meta” after Facebook gave herself the new name of Meta. After research, we found more than a hundred projects are using the name Meta.

Metaverse is a actually virtual world, the concept of the metaverse is used in crypto by renowned names like Axie Infinity and Decentraland. These digital environments incorporate many features of the real world, such as interaction with other people, buying and selling properties, etc.

The big problem is that many scam artists are taking advantage of this trend to deceive people, as every scammer wants to steal others’ bitcoins. Because of this, it is important to be aware of misleading Meta cryptos.

You must remember that each Metaverse — digital universe — has its own currency and normally does not use the world of Meta at all. For Decentraland, the native currency is MANA, For Sandbox, the native currency is SAND, for Illuvium it’s ILV, and so on.

Scammers are trying to take advantage of the META name to attract users, make them invest in their fake projects, and steal their hard-earned money just like what happened in Squid Game coin (SQUID) when a coin was created on the popular Netflix drama “Squid Game” and the coin creators were able to loot millions of dollars deceiving people pretending to be “Squid Game” coin.

More than 100 tokens found on CoinMarketCap containing the Meta name, are created after October 28 — the date Facebook changed its name to Meta — are all scams.

In addition, almost all of them use the same altcoin trap of using a huge supply to make their price look cheap, attracting amateurs who think these coins can go to $1 or close making them billionaires.

The description of these projects always tries to explain in vain the reason for their existence using words like metaverse, NFT, play-to-earn, and others.

Facebook Meta Cryptocurrency

Using Facebook’s Meta currency name is an obvious scam as  Facebook does not have any crypto coin. Through BSC explorers, it is possible to find plenty of projects with Meta Facebook names.

In addition, some scammers also go further and pretend to have partnerships with large companies. Some of them put the Binance name as their partner. This is really eluding because such tokens have no partnership of any kind with Binance, rather they are only built on Binance smart chain which does not imply any specific partnership as anyone can make their tokens on BSC.

Finally, avoid investing in these types of projects. If you find an interesting project, do very detailed research first and don’t trust anyone because the only goal of these scammers is to steal your money.