Cryptocurrency has a lot of interesting characters in it that often will promote projects. One of those characters in cryptocurrency is someone called Fantasy Girl.
They aren’t super well known – they only have 3,400 followers on Twitter. But they have already launched a project on the BNB Smart Chain.
Anyway, the project is a somewhat complicated investment vehicle that claims it can have an 11,000% APY from all the different components of it.
What is Fantasy Girl (FMEV2)?
The Fantasy Girl project has a lot of different sub-projects under the Fantasy Girl umbrella. We will attempt to cover all of them in this section.
First, the whitepaper says that the FMEV2 token will be used on the NFT marketplace that Fantasy Girl plans on releasing.
Yes, Fantasy Girl plans on launching an NFT marketplace and even an NFT collection that contains 8,888 NFTs. The NFTs in the collection can be staked for 255% to 450% APY, which will be paid out in BNB. These NFTs will eventually be used in a metaverse game.
Another aspect of Fantasy Girl is an online casino. This has already launched. Naturally, the profits from this will be funneled back to investors in the greater Fantasy Girl ecosystem.
FMEV2 also has a staking pool that offers a rather ridiculous 3,888% APY.
The final part of the Fantasy Girl ecosystem is a decentralized autonomous organization (DAO) that will pay out a sustainable APY due to the income generated from the above projects. This has not yet been released.
One last thing, Fantasy Girl is allegedly operating under a company registered in New Zealand called Wealth Cartel Ltd. We cannot find anything online to verify that claim, but we have also not done more than a simple Google search of “Wealth Cartel Ltd New Zealand.”
Is Fantasy Girl a Scam?
We do not like to claim that projects are scams when there is no direct evidence that the founders have scammed anyone. However, we will point out red flags about Fantasy Girl that make us extremely suspicious about this project.
The first red flag is that this project comes from an anonymous founder. That alone is not enough to call a project a scam, but if anything else scammy pops up it’s really not a good look for the legitimacy of the project.
The other red flag is that this project promises some insanely high APY. The whitepaper claims that staking the NFT will offer a “constant APY of 255% to 450% paid in BNB.”
Any APY that high is simply not sustainable if it’s paid in BNB. It’s possible to have an APY like that if it’s paid out in the native token because the developers can simply mint more tokens. The tokens would obviously become worthless in that case, but it’s still possible to have those numbers on paper.
The mention of an APY that high is the most obvious sign of a scam in our opinion.
Really, when you see a project that offers an APY that high, you should just look for another project because you’re dealing with a scam. This applies to cryptocurrency projects and traditional finance investment opportunities.
Unfortunately, it gets even worse with Fantasy Girl making outrageous claims about the APY that investors can expect. Here’s a picture from a graphic in the whitepaper:
For one, this picture barely makes any sense. Why does total liquidity have 11,000% APY under it? How is that 11,000% APY generated?
The other problem we have with this is that it uses a Lamborghini Gallardo to market the project. This sort of implies being able to purchase a Lamborghini with the returns from an investment in the project.
Finally, Fantasy Girl claims that she can launch a successful play to earn game, online casino, NFT collection, and DAO all on her own.
That’s a lot for one developer to launch. In fact, it’s extremely difficult to launch just one of those projects successfully. It’d be extremely difficult for one developer to successfully launch that many projects.
To summarize, the chances of this being a scam are 99%. There’s an off chance that this project isn’t just a blatant scam or money grab, but it’s still doomed for failure in that case. 255% to 450% returns on NFT staking aren’t sustainable.
We also aren’t sure where the project gets the 11,000% APY mentioned in the whitepaper. That’s so ridiculous that there’s no way it isn’t a scam.
Is Fantasy Girl (FMEV2) a Good Investment?
No, it would be an absolutely terrible investment. As mentioned in the previous section, the anonymous founder combined with the promise of insanely high returns makes us extremely skeptical about the legitimacy of this project.
“If it’s too good to be true, then it probably isn’t true” certainly rings true about this investment.
The good news is that it appears that not many people have fallen for this blatant scam based on the market cap and 24 hour trading volume.
Is It Possible To Make Money in Staking Pools?
Fantasy Girl offers a staking pool with an insane 3,888% APY.
This is unsustainable. If it was sustainable, then everyone on Earth would be a millionaire.
That said, it is possible to make money in staking pools like this. However, the key to making money is to pull the profits out of the staking pool before the developers rug.
In fact, we would wager that most investors in projects like this know it’s a scam. The investment plan for them is exciting with a profit before the developers rug.
To summarize, Fantasy Girl is nothing more than a staking pool scam project. They add more aspects like an NFT collection, NFT marketplace, casino, DAO, and P2E game to make the project sound more trustworthy. But it sort of falls flat because it’s extremely difficult for one developer to launch that many successful businesses.