💵💵DeLabs receives massive $3 million grant from Polygon!

Good evening (because it's always evening somewhere!). You're reading "To The Moon," the only newsletter bringing you all the rug pull news. So, let us take you on a journey of pain and pleasure to see what's been happening in the NFT space over the weekend.

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• DeLabs receives massive $3 million grant from Polygon!

• Scandal: Mutant Ape Planet NFT founder accused of massive $2.9 million rug pull

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DeLabs receives massive $3 million grant from Polygon!

DeLabs, the top Solana startup known for its y00ts NFT project, received a whopping $3 million grant from Polygon to migrate its projects from the Solana blockchain over to Polygon's Ethereum sidechain.

This news was announced by none other than the legendary Frank DeGods himself, who took to the DeGods/y00ts Discord channel to break the exciting news to the world.

Frank even made sure to clarify that the will NOT be using these funds on a lambo. How very un-NFT of him.

But why did Polygon decide to throw $3 million at DeLabs? Well, it seems that the team at DeLabs is planning to use the grant to expand their team (hiring business development, graphic design, content creation, and event coordination personnel) and to launch an incubator project that is sure to shake up the blockchain world.

And let's be real, who wouldn't want to be a part of a project that aims to "dominate the attention economy, provide cool partnerships and deals with businesses, and create magical experiences"?

Sounds like the ultimate dream job to us! Only second to working at NFT Evening, of course.

Of course, this news comes just a week after DeLabs announced its plans to shift its DeGods project to Ethereum, while the y00ts project will move to Polygon.

And let's be honest, with the Solana cryptocurrency down 91% from last year's valuation (currently hovering around ~$13), it's no surprise that the team at DeLabs is looking to jump ship.

But with $3 million in their pocket and a dream team on their side, we have no doubt that they'll be able to make a splash on Polygon.

We've got our eyes on you, DeGods.

Scandal: Mutant Ape Planet NFT founder accused of massive $2.9 million rug pull

From making money, to taking money. The crypto world was in for a wild ride yesterday when the founder of Mutant Ape Planet NFT collection was arrested and charged for an alleged $2.9 million rug pull.

For those unfamiliar with the term, a rug pull is when the creators of an NFT project attract buyers and promise them benefits, only to abandon the project and leave the NFT holders with nothing but unfulfilled promises.

In this case, Aurelien Michel and his team marketed the Mutant Ape Planet NFT collection, making false promises of rewards, raffles, exclusive assets, and community support to buyers.

But after the collection sold out, Michel and his accomplices transferred $3 million in funds to other wallets, leaving the NFT holders in the dust.

$3 million! $3 mil for DeLabs, $3 mil for Michel - where's my $3 mil?

As if that weren't enough, it turns out Michel may have been involved in a few other rug pulls as well, including one that ran off with $1.6 million in investor funds.

The crypto community is in shock, but at least Michel will face the consequences of his actions now that he's been arrested.

When will people learn that what happens on the blockchain, stays on the blockchain?

Half Moons 🌓

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• Make Beautiful NFTs in Minutes With These AI Art Generators [NFTEvening]

Shooting Star 🌠

Tonya Kim

Tonya Kim is a young digital artist, illustrator, and 2D animator. Her creations adopt a "Tiki masks" style. You can find her creations on Foundation and OpenSea where the prices range from 0.10ETH to 0.01ETH. Follow Tonya on Twitter @Tonya_Kim_ to learn more.

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