Donations and crowdfunding play an important role in the cryptocurrency space, which leads to a great deal of activity and participation.
But what happens when you start a social experiment and ask backers to send you crypto, without promising anything in return? You receive up to $1.1 million worth of Ethereum (ETH) in just 24 hours, apparently, as shown by the example of Pauly, the anonymous co-founder of the community-created NFT marketplace NotLarvaLabs.
Unlike initiatives that promise shareholder tokens, participation in future gains, or any other type of tangible or intangible gain, Polley has made it clear in his call for donations that he will not reward his backers with anything of value.
Some observers have called Project Pauly an example of performance art, while others believe it is a clever get-rich-quick scheme to accumulate large crypto assets without investing much of their time or effort.
“An incredible social experience!” ViralLurk user commented on the initiative.
User Zeeno claimed: “You entered your $150 with the express understanding and expectation of not receiving anything of value in return.”
Another user, Emirati analyst Yazan Al-Kharouf, said in his tweet that the entertainment value of the initiative was what convinced him to donate a share of his crypto assets to Poly.
Meanwhile, a bustelobricks.eth user noticed that more than $1 million worth of Eth had been sent to @Pauly0x. The only lesson to be learned from this is “You don’t tell people how to spend their money.” Why are you crazy? It’s not your money.”
Whatever the specific goal of Pauly’s campaign, it is clear that their large social media following, particularly with over 74,200 followers on Twitter as of June 1, has significantly contributed to his success within the cryptocurrency community.
Meanwhile, the latest controversial effort has spurred a number of similar initiatives on social media, with many influencers and users asking their followers to donate cryptocurrency for nothing.