YouTube investigator Stephen Findeisen, better known as Coffeezilla, accused Rabbit AI of orchestrating a non-fungible token (NFT) scam. He claimed that the company, formerly known as Cyber Manufacture Co., was trying to hide its involvement. Prior to this revelation, he discovered the company’s suspicious activities related to the Gama NFT project.
The background and history of Rabbit Artificial Intelligence
On May 21, Coffeeezilla released a video revealing the connection between Rabbit AI and NFT. Rabbit AI (formerly Cyber Manufacture Co.) raised $6 million for an NFT project called Gama. Despite the change in company name and image, Coffeezilla stressed that Rabbit AI CEO Jesse Lyu has tried to distance the company from its cryptocurrency past. In a Discord statement, Lyu claimed that the company will “never touch cryptocurrencies again.”
Source: Coffeezilla
When asked, Lyu described Project Gama as a “fun little project” in the age of the COVID-19 pandemic. He said he left the project after the game was open sourced. However, Coffeeezilla revealed a recording of Lyu discussing Gamma’s grand vision, which contradicts his low-key version. In these recordings, Lyu talks about the significant investments being made to make Gama a “next-level experience,” hinting at ambitious future plans involving the Gamaverse and clean energy.
Differences in Project Gamma Funding
Fenderson questioned the use of the $6 million raised for Gama and said the funds were not just for a “fun little project.” Coffeezilla expressed concerns about how Rabbit AI, which currently distances itself from cryptocurrencies, is built on the remnants of potentially fraudulent projects. Investigators’ review of financial discrepancies calls into question the legality of Rabbit AI’s current and past operations.
Coffeezilla didn’t stop at the NFT project. He also criticized Rabbit AI’s latest product, R1, saying it was overly hyped. Findeisen compared Project Gama to the unfulfilled promises of R1, arguing that Rabbit AI is repeating its pattern of overhyping but not delivering on its promises. Investigators suggest the company’s current operations may be as problematic as they were in the past.
Skepticism about Rabbit AI isn’t limited to Coffeezilla. WeGPT CEO Josh Olin also accused Rabbit’s R1 product of being a scam. On January 14, Olin described the product as a quick cash out, aiming to attract investors through exaggerated promises. This sentiment echoes Coffeeezilla’s findings and adds weight to the accusations against Rabbit AI.
final thoughts
The Coffeezilla investigation has thrust Rabbit AI into the spotlight, raising serious concerns about its past and current operations. Allegations that Project Gamma overhyped its products and misused funds illustrate a troubling pattern. Industry figures such as Josh Olin have echoed these concerns, with Rabbit AI facing increasing scrutiny over its practices and promises.
