A group of avid participants in a Berachain airdrop have created over 1.7 million NFTs as part of the upcoming project, engaging enthusiasts in activities that could result in receiving complimentary tokens. Berachain is a layer-1 network that operates on proof-of-liquidity and utilizes the Cosmos SDK platform, a tool for developing decentralized applications using the Go programming language. The protocol is also described as being equivalent to an Ethereum Virtual Machine on layer 1.
Berachain claims to have fully integrated the EVM code outlined in Ethereum’s yellow paper, a technical document detailing the design and structure of the Ethereum blockchain. By being EVM-equivalent, the protocol is fully compatible with Ethereum, allowing for seamless support of any dapp running on Ethereum’s mainnet. During the time of writing, Berachain was still in its testnet phase and had garnered attention from airdrop hunters seeking the next opportunity for free tokens.
The protocol introduced its “Berachain Farming Vol.1 NFT”, sparking trading activity involving digital collectibles known as “Bit Bears” on the popular NFT marketplace, Opensea. It remains unclear if the two teams are connected. Bit Bears has experienced a 236% surge in trading volume over the past month, with over 5,831 Ether (ETH) equivalent to approximately $14.9 million in total transactions.
Furthermore, scammers have attempted to take advantage of the growing interest in the Cosmos SDK-backed protocol by promoting fake ads on various platforms, including Elon Musk’s social media platform. These ads aim to deceive unsuspecting users into participating in a fake airdrop. Such scams are prevalent in the crypto community, with scammers trying to trick users into granting access to their wallets for fraudulent transactions.
As global crypto adoption continues to rise, phishing scams like these are becoming more common on social media platforms. Reports from SlowMist indicate that 80% of comments on certain platforms are related to phishing scams and scammers. Even well-known entities like Trezor and Ripple have fallen victim to such campaigns. Stay informed and vigilant to protect your assets in the ever-evolving world of crypto and NFTs.