The crypto market is witnessing a flurry of new entrants with the growing popularity of cryptocurrencies. Celebrity endorsement and social media influencers have made it more competitive. But it is also posing challenges for buyers to pick what is suitable or safe for them.
For instance, there are more altcoins today than what it was about two years ago. With each passing day, crypto firms are exploring new themes and services for their products. Now, the latest buzzword in the metaverse theme is HyperVerse. Many people consider it a scam.
But why people are calling it a scam? Let’s dig into the details.
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What is HyperVerse (HVT)?
HyperVerse claims to operate a platform to provide developers services to build and utilize smart contract primitives as smooth as web2 APIs.
HyperVerse also claims to offer a decentralized financial infrastructure for crypto holders.
But, at the time of its launch, the project was called Hyperfund. Its clients can reportedly use the platform to explore the cosmos within the metaverse and create and sell various things.
Many people who have invested in HyperVerse think it gave its old name Hyperfund due to its connection with the Ponzi scam. They believe the firm has now rebranded to dissociate itself from the Ponzi scheme and attract young investors interested in the metaverse, according to the web portal newsroompost.com.
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