DazeeNFT Royalty Free Artwork Resold

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DazeNFT Website

The Dazee NFT team found a compelling pitch for selling existing videos that they found online as NFTs, by claiming that "all artworks are handmade and unique" and "a combination of random motion moves of any tone: black, white, red, green, blue, etc. You get the point." Once the mint was complete, it came out publicly that their team did not make any of the images but instead simply repackaged images that they found online. The community felt deceived, however it does not appear that any refunds of any kind were issued.

This is a global/international case not involving a specific country.

About DazeeNFT

"FOMO keeps growing strongly on the Solana Blockchain and this is yet another great opportunity to catch an early gem, especially if you have missed top collections like Degen Ape Academy, Solana Monkey Business, Thugbirdz, Abstratica and so on."

"As big lovers of Art’s creation and the way NFTs play a role in this brand new world, we’ve decided to create our own non-fungible token, the Dazees."

"Dazee is an astonishing art collection of 2000 NFTs uniquely generated on the Solana Blockchain. All artworks are immersive and unique. They offer massive moments of joy due to a brilliant combination of random motion moves of any tone."

"By playing around with multiple tools at our disposal, we’ve come across a fresh, relaxing and mesmerizing combination of ink water and smoke.

We’ve loved them even more when one of our kids asked: “Wow, what’s that dad? It looks so cool!”. That very same moment was the trigger to keep going forward and embrace the challenge."

"Remember, all artworks are handmade and unique. They are all a combination of random motion moves of any tone: black, white, red, green, blue, etc. You get the point. This was made so we could get into the definition of rarity itself."

"I got rugged by DazeeNFT :( minted 1 daze for 2 sol, can you help?"

"We understand the rug denominations and do apologise for not giving the royalty free info since bare start. It was our main issue to not assume others could see artist work on web.

We will send NFTs to whom we’ve promised. We will chat with marketplaces and explain the fuzz.

We are not running away as we believe in this project."

"We embrace Bushido values such as integrity, honor, and respect - both for the art and the community. We initially received four @DazeeNFT to drop to our community."

"However, due to the lack of transparency before mint about where the art came from, and how it was created, we feel that Dazee runs contrary to our values. It was disrespectful to hide the creative process from collectors."

"As a result, our DAO has voted to burn the four Dazee NFTs instead of airdropping them to holders."

This is a global/international case not involving a specific country.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

• Known history of when and how the service was started.
• What problems does the company or service claim to solve?
• What marketing materials were used by the firm or business?
• Audits performed, and excerpts that may have been included.
• Business registration documents shown (fake or legitimate).
• How were people recruited to participate?
• Public warnings and announcements prior to the event.

Don't Include:

• Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
• Anything that wasn't reasonably knowable at the time of the event.

There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.

The Reality

This sections is included if a case involved deception or information that was unknown at the time. Examples include:

• When the service was actually started (if different than the "official story").
• Who actually ran a service and their own personal history.
• How the service was structured behind the scenes. (For example, there was no "trading bot".)
• Details of what audits reported and how vulnerabilities were missed during auditing.

What Happened

The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.

Key Event Timeline - DazeeNFT Royalty Free Artwork Resold

Date	Event	Description
September 10th, 2021 11:55:50 AM MDT	Initial Medium Announcement	The Dazee NFT project is announced on Medium.
October 5th, 2021 6:45:36 PM MDT	Explanation Medium Post	An explanation post is posted on Medium.

Technical Details

This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?

Total Amount Lost

The total amount lost is unknown.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

Immediate Reactions

How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

Ultimate Outcome

What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

Total Amount Recovered

There do not appear to have been any funds recovered in this case.

What funds were recovered? What funds were reimbursed for those affected users?

Ongoing Developments

What parts of this case are still remaining to be concluded?

Individual Prevention Policies

No specific policies for individual prevention have yet been identified in this case.

For the full list of how to protect your funds as an individual, check our Prevention Policies for Individuals guide.

Platform Prevention Policies

Policies for platforms to take to prevent this situation have not yet been selected in this case.

For the full list of how to protect your funds as a financial service, check our Prevention Policies for Platforms guide.

Regulatory Prevention Policies

No specific regulatory policies have yet been identified in this case.

For the full list of regulatory policies that can prevent loss, check our Prevention Policies for Regulators guide.