Ryan Carson, the former COO of Proof Collective and founder of Flux Web3 Fund, is facing backlash from investors and members of the NFT community. In a now-deleted tweet, Carson announced his intention to raise $10 million through 100 investors and claimed that 21 spots had already been filled.
However, several of the 21 investors have come forward to express their displeasure with the announcement. They allege that they were not given enough information about the fund before being asked to invest in it, and some even claim that they never signed any documents or invested any money.
The NFT community has also expressed its concerns over Carson’s announcement. Many are questioning his motives for launching the fund, as well as his lack of transparency regarding how it will be managed. Furthermore, some are calling into question whether he lied about having 21 investors already on board when he made the announcement.
It remains to be seen what will happen with Ryan Carson’s Flux Web3 Fund and how this situation will be resolved. However, it serves as an important reminder for all entrepreneurs in the Web3 space to ensure that they are transparent about their plans and provide adequate information to potential investors before asking them to commit funds.
Carson’s Past Tells a Slightly Troubled Story
Carson has faced multiple accusations of unethical behavior in the past. In August 2021, he announced the failure of the company’s acquisition and laid off most of the staff without benefits or severance pay, which caused complaints from employees about poor communication and erratic management.
Carson also caused controversy in the Web3 space, particularly with the acquisition of Moonbirds and his exit from Proof Collective. In April 2022, he collected over 200 ETH of Moonbirds, which led to suspicions of insider trading. When he left Proof Collective two weeks later to start 121G, an NFT venture fund, he faced criticism for making money off of Moonbirds NFT collectors.
During an AMA, Carson said he would focus on Flux, but faced more accusations of misleading potential investors and using the same playbook from Proof. Kevin Rose had to distance Proof from Carson, stating that Carson wasn’t involved in creating the Proof playbook.
The controversy surrounding Carson raises questions about transparency, fundraising, trust, and ethics in the NFT ecosystem and will likely continue to be a topic of discussion.
The Right Approach to Web3 Marketing
Carson’s marketing strategy seems to have backfired, leaving many questioning his ethics and transparency. If you’re looking for a Web3 marketing agency that is ethical and successful, Fracas Digital is here to help. As the leading Web3 marketing agency in the UK, our team of experts is dedicated to delivering innovative and effective marketing solutions for our clients. From brand strategy to execution, we have the experience and expertise to help you reach your marketing goals and make a lasting impact in the Web3 space.