‘They’re a scam’ is a typical reflex response when someone brings up the topic of cryptocurrency and NFTs. The speaker is almost always aware that they are generalizing but are doing so based on a belief that malicious people dominate the Web3 space. The true extent of illegitimate ventures on the blockchain is unknown, but highlighting genuine projects and encouraging research is thought to be a pivotal way of growing confidence in the space. Every marketplace has its shady groups, so Jaylissa Lea has been attempting to educate on-the-fence investors about how they work in practice. In a recent statement, she provided three ways people can prevent and circumvent harmful propositions.
It’s characteristic of many Web3 advocates to dismiss claims of illegitimate behavior. Lea has made headlines by tackling the issue head-on as a part of a growing movement to increase transparency and education in the space. She’s now made it a full-time commitment, founding and heading up her own company that aims to relay verifiable information.
“Firstly, using trustworthy sources is vitally important,” Lea said. “Consumers should be more careful with what they buy into and verify their information. Read the project’s white paper, make sure the founders are who they say they are, and ask a lot of questions. People who are scamming will not have those details for you.”
As previously mentioned, Lea believes her role is to simplify the process by directly providing reliable information about projects to the consumer. Web3’s new educational influencers can’t cover every new cryptocurrency or NFT, so it can be essential that potential investors are prepared to do the research themselves. Moreover, a project’s obscurity could indicate that it is not trustworthy.
“There are a lot of Web3 educators emerging who want to help you avoid scams,” Lea stated. “On my platform, I only promote projects I know the founders of and have done the research myself. Following the right people who aren’t taking money to promote any project is another good way to ensure the safety of your investment.”
The third piece of advice Lea gave follows directly from the second. Web3 adopters will be aware of the importance of community in a project’s growth. But she believes the impact groups of like-minded people can have on skepticism and security is often overlooked.
Her final comments on the subject of community highlighted how investigations could be easier and more thorough if several individuals researched the same project. Additionally, she recognized how notions of collaboration and community are prevalent in Web3 and can be utilized to overcome skepticism.