With the presale still underway, XYZVerse has already sold out 9 out of its 15 stages and raised over $6 million – covering 79% of its presale token allocation. The project has also landed on CoinMarketCap in December, which brought it even more visibility and provided easier access to price tracking and updates.
XYZVerse has more than 30,000 followers on X and over 15,000 subscribers on Telegram. On top of that, it successfully passed an audit by Pessimistic, achieving 31 out of 31 security checks, and also has partnerships with major companies like Polygon Studios.
XYZVerse’s momentum is undeniable, yet skepticism about its legitimacy remains, with some accusing it of being a scam. The crypto space has a history of scams, from Squid Game token collapses to fake DeFi projects, prompting investors to thoroughly vet every new project before committing. Interestingly enough, even Ethereum, the top platform for decentralized applications, faced early skepticism and accusations of being a fraud. So, these kinds of allegations are nothing out of the ordinary – most new projects, like XYZVerse, have to deal with them.
Based on a surface look, XYZVerse appears to be far from a scam and the claims appear to be a victim of FUD (Fear, Uncertainty, Doubt). But we will not get ahead of ourselves and assume this is right without doing our own research. So to separate speculation from reality, let’s dive deeper and dissect the facts.
What Is XYZVerse?
XYZVerse’s goal is to create a “memeverse” where sports fans engage through play-to-earn games, governance voting, and NFT collectibles. It’s native token, XYZ, is a sports-themed meme coin built on Polygon, blending gaming, sports, and crypto.
XYZVerse connects two big cultural trends here. First, it gets involved with sports fans by teaming up with MMA leagues and eSports teams. Second, it brings back memories of early meme coins like Dogecoin, but with extra utility for users. One of the project’s mascots is a strong frog in a jersey, representing its theme of going from an underdog to a champion.
For example, many in the crypto community compare XYZ to Chiliz (CHZ), a sports-focused cryptocurrency that surged 1,200% during bull markets. This suggests that XYZVerse could similarly attract a significant level of interest from the crypto-sports community.
Fact-Checking the Allegations Against XYZVerse
XYZVerse’s critics highlight three red flags:
Hype-driven marketing,
An anonymous team,
Unproven utility of the XYZ token,
So let’s see what’s the truth here based on the facts that we have found.
Allegation
Fact Check
Allegation 1: XYZVerse’s overhyped marketing creates FOMO to lure investors.
XYZVerse’s clever marketing is centered on showcasing its features and future plans, giving investors clear insights into the potential value of the XYZ coin. While there’s some hype, the goal isn’t merely to create excitement but to ensure the community truly understands the project. Moreover, FOMO isn’t necessarily a bad thing – it’s a natural part of any multi-stage presale that highlights the benefits of getting in early and the potential rewards that come with it.
Allegation 2: The XYZVerse team is anonymous, making it untrustworthy.
Anonymity is common in the crypto world, and many reputable projects much larger than XYZVerse operate this way. Even the creator of Bitcoin himself, Satoshi Nakamoto is still anonymous up to this day. So what really matters is that XYZVerse’s technology, roadmap, and token details are clear and well-documented.
Allegation 3: The XYZ token has no real utility beyond speculation.
XYZ token fuels transactions, powers staking for rewards (a feature most meme coins lack), and drives governance decisions. Unlike typical meme coins that offer little more than buzz, the XYZ token delivers value with tangible benefits and a solid foundation.
XYZVerse’s Whitepaper, Tokenomics, and Roadmap
A common warning sign in the crypto world is when projects don’t have clear and easy-to-understand documentation. Scam projects often skip publishing whitepapers or details about their tokenomics, relying instead on hype and vague promises. However, from the beginning, XYZVerse has focused on being transparent. It has published a whitepaper, with a well-organized tokenomics model and a detailed roadmap. These documents aren’t just for show; they provide a clear path for the project’s long-term vision and demonstrate its legitimacy, as well as the team’s commitment.
Tokenomics
XYZ token’s allocation is really well-thought-out, designed to keep the project growing steadily and staying stable. Among other initiatives, the team will set aside 25% for liquidity and incentives like airdrops to support future listings and extra income opportunities. Plus, with a 17.13% deflationary burn, the total supply will shrink over time, helping boost the token’s long-term value.
Source: XYZVerse
Roadmap
XYZVerse’s roadmap is straightforward and practical; it’s a detailed action plan with specific timelines. Covering the years 2023 to 2025, it outlines important milestones in manageable phases:
Source: XYZVerse
This phased approach promotes accountability. Each milestone is linked to specific goals, which reduces the chance of “roadmap drift,” where projects often delay or fail to meet their promises. For example, the P2E games planned for Q2 2025 are already being tested with select community members, as mentioned in recent Ask Me Anything (AMA) sessions.
By offering interactive participation similar to prediction markets among other things, XYZVerse can tap into a massive Web2 audience, think millions of sports fans, and has the potential to become the next Polymarket, unlocking new revenue streams for the ecosystem and rewarding early presale investors.
Polymarket demonstrated record-breaking success during the 2024 U.S. presidential election period, with trading volumes exceeding $3 billion dollars and dynamic odds that swung dramatically in real time. Its prediction market model not only provided rapid, transparent insights into the political race but also highlighted a model that projects like XYZVerse can emulate, especially if they blend it with engaging P2E mechanics.
Audits and Security Checks
Scams usually don’t pass third-party audits. However, as already mentioned, XYZVerse went through a thorough review by Pessimistic. The audit found:
No Vulnerabilities in Smart Contracts: Pessimistic confirmed that XYZVerse’s code has no serious flaws or hidden backdoors. This is uncommon in meme coins, where rushed development can lead to security issues.
Multi-Signature Wallets for Treasury Funds: The treasury, which holds presale funds and revenue, requires multiple authorized signatures to access. This reduces the risk of a single point of failure, making sure that no one person can withdraw funds on their own.
Non-Upgradable Code: Unlike some projects that can change their contracts after launch (a tactic sometimes used in scams), XYZVerse’s smart contracts are fixed. Once they are deployed, even the developers cannot change the core functions, which protects investors from unexpected changes.
Even credible crypto aggregators, including CoinCodex, CoinCarp, and CoinSniper have added the token to their lists, underscoring its legitimacy since these platforms are highly selective about the assets they feature.
Source: Pessimistic
Having clear tokenomics, a detailed roadmap, and passing the Pessimistic audit is important, but it’s also important to consider how the market has reacted to the project. Let’s take a look at the community aspects of XYZVerse and how it has been discussed in the media.
Social Media Presence
XYZVerse has been very active in engaging its community. The project has run various initiatives, like meme contests, airdrops, and AMA sessions, which encourage community participation and excitement. These activities not only keep current supporters engaged but also attract new users who want to learn more about XYZVerse.
Media Coverage
Some of the most reputable media outlets that have expressed their willingness to collaborate with XYZVerse include Brave New Coin, Finbold, Bitcoinist, crypto.news, Crypto Daily, Coinspeaker, and more.
Website Revamp
XYZVerse has recently announced a fresh website design, intended to deliver a better, interactive, and pleasant experience for anyone interacting with the project for the first time. Typically, scam presales do not invest significant money or effort into creating polished websites and narratives.
Source: X
This actually demonstrates the team’s commitment to their idea: they are not simply treading water, waiting for the presale to conclude. They are evolving and taking every aspect of their project seriously.
Final Verdict: Is XYZVerse a Scam?
When evaluating XYZVerse, it’s important to weigh both the positives and negatives.
The positives include:
The project is audited, secure, and transparent, which helps build trust.
It has an active and genuine community, adding to its credibility.
XYZVerse has established real partnerships with well-known companies like Polygon.
On the downside:
The team behind XYZVerse is anonymous, which might make some traditional investors feel uneasy.
Some features, like play-to-earn games, are still in development and haven’t been released yet.
Conclusion: Don’t Let Fear Cloud Your Judgment
While no investment in crypto is entirely risk-free, labeling XYZVerse as a scam overlooks its many strengths, such as its audits, clear roadmap, and active community.
As skeptics wait for clear evidence of success, XYZVerse is busy building its platform and is just about to start rolling out updates in the near future.
The post XYZVerse Scam Accusations: How True Are They? appeared first on CoinGape.
