Web3 Inu Token Review: Legit or Scam?

Web3 inu token currently occupies trending the number 3 spot on coin market cap trending list. Many investors do not know that this token is only less than 3 weeks old. Within those weeks, the token has pumped 500%.

Because of some of these reasons, investors will be looking to invest in the token. This is why I have taken it upon myself to review web3 Inu token.

This Web3 Inu review is for those looking to invest in the token. Also for those who are just curious about Web3 Inu, and for those who perhaps have already invested in the project. Make sure you get to the end of this review, to find out whether it is indeed a legit or scam project. I promise to make the complicated crypto explanations simple and clear for you to understand.

Before we get into reviewing Web3 Inu, you have to know that “I’m not a banker or a financial expert. I will not be held responsible for your financial decision. This article is just a guide and nothing more.”  With that said and understood, let us define what Web3  inu is.

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What is Web3 Inu?

According to coin market cap.  Web3 Inu is a Rent-To-Earn token concept based on real-world data interacting in two different layers: On-Chain and Off-Chain…Web3 Inu is a Doge based on Web3 idea to embrace blockchain and transparency, allowing users to rent, buy, upgrade and sell real-life businesses worldwide.

The developers of web3 inu brand the token as the dogecoin of Web3.0. For those who do not know what Web3.0 is. The Internet is about to enter another phase in its lifecycle. This new phase aims to put more control over web content in its users’ hands. Big tech companies like Facebook and Google will not have control over it. Use this link to know more about web3. Now we have an idea of what web3 Inu is. Let’s move to its website.

Web3 Inu’s Website

Web3 Inu’s website is design and style are unique. Which is a good sign in my opinion. Often, scam tokens do not bother to have unique websites. The description begins by introducing Web3 inu as an R2E Gamefi (Rent to Earn game). This means that in Web3 Inu’s game (which is a business-themed game), players of different categories can rent businesses and earn from them.

A table that compares and differentiates web3 inu and other similar gamefi tokens is made available on the website.

The table tells me the idea behind web3 Inu is unique. This is another green flag for web 3 Inu. In the Game model section of the website. We learn that the ultimate purpose of the web3 inu platform is to allow users to rent, buy, upgrade and sell real-life businesses worldwide.

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Web3 Inu’s White Paper

Web3 Inu white paper is a well-designed downloadable PDF that begins with a disclaimer.  Most of the white paper is a repetition of what we already dealt with on the website. Although, more details of how Web3 Inu operates were made known in the ending part. Let move on to web3 inu’s tokenomics.

Web3 Inu’ Tokenomics

55.00% Total Token Burn at listing on Pancake Swap. There is a 1% tax for all transactions. Every transaction burns 0.55% of the transacted volume, making the token deflationary. This ensures that the Web3 Inu token becomes more valuable over time. An anti-bot mechanism is present in the contract, to prevent sell after buying for 15 seconds. A 1% Reflection is distributed to every holder of Web3 Inu, as a form of reward for holding. Again, this is a unique tokenomics. Not many tokens take this route.

People Dont Talk about this Token but 2022, could be its Year.

Market Cap and liquidity Pool

Web3 inu’s market cap is currently valued at $9,259,737, according to data from poocoin.app. This market cap is relatively still very low, low market cap tokens attract investors looking for the next coin to go parabolic. The liquidity pool is estimated to be $269,330. The market cap to liquidity ratio is not good in my opinion. It is important to note that Web3 Inu token (build on BSC) coincidentally shares the same contract with an ethereum token named Metaverse. Token sniffer only recognizes the Metaverse contract code. This have caused some level of confusion amongst investors researching the token independently.

96% of the web3 inu’s liquidity is locked in Unicrypt for one year. While the remaining addresses that provide liquidity for the token are unlocked. This is generally seen as good. Again, Web3 Inu’s contract has been renounced. This makes it reasonably safe for investment.

Web3 inu has over 214,111 holders. This is a significant amount of people on the web3 Inu train. Normally, this is perceived as good. However, Web3 Inu have been accused of getting this significant amount of holders through airdrops to random people who didn’t request for it. Many are calling it a dust attack.

Developers of the token

The developers of Web3 Inu are “semi-doxed”. They mostly have their first names and pictures on the website. Most of them appear to be from Asia also. However, we do not know their antecedents as there are no traces of them on the internet. It is another thing to have a legit idea and launch a token. But it is another thing to deliver on that idea. Look at Saitama Inu, for example. The Saitamask was touted to be the revolutionary app that will give the token its utility. But the app, upon launch, has failed and crashed. Leaving investors and the Saitama inu community disappointed and doubtful.

What investors are saying about Web3 Inu

There’s seems to be a high percentage of people who think the token is a scam because of the coincidence of it having meta’s contract address. And an equally high number who think it will ‘moon’.

On Reddit, redditors are complaining about the ‘dusk attacks’ by Web3 Inu. What I think is that Web3 Inu has many replica tokens that have been used to push dusk attack. Check token sniffer, for example, you’d see about 5 contracts bearing the name Web3 Inu. Although, several crypto observers have accused Web3 Inu of airdropping their tokens to random wallets. Web3 Inu haven’t come out to deny or accept this accusations.

Check Here to get the Latest Airdrops on the internet

Conclusion

In conclusion,  investing in this token is risky. Although the token has its good sides like the contract being renounced, the idea seems to be unique, with it fair tokenomics and the general lack of whales. The token hasn’t undergone an audit with any reputable audit firm. The developers behind the token are none entities, they could be lying with those pictures and names. Also, the fact they have been accused of airdroping to people who are not interested in the token, suggests desperation on the part of the dev team. Another line of thought is that because the token has many scam replicas, it could be this replica tokens that are dust attacking crypto wallet.  I’m not calling Web3 Inu a scam. It is however not addressing investors question. This makes the token a high risk investment. If you insist on investing in Web3 inu,  invest what you can afford to lose.

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2 Comments

  1. I enjoyed reading your article on WEB3 Inu. I had a few tokens airdropped into my wallet and so I decide to investigate further. I liked what I saw and also used your article to make my decision. I did what you advised and that is to invest what I can afford to lose. A Re-check of things still tells me that everything is still hunky-dory with this token.

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