Recently Diamond Boyz Coin founded by Johnny Dang – a famous jeweler has involved in a fraud scandal. With the rise in popularity of crypto and blockchain technology, there will be an influx of unprecedented cryptocurrency scams, according to William E. Quigley, a prominent investor, and co-founder of the WAX blockchain.
What is Diamond Boyz Coin?
Diamond Boy ($DBZ) is a peer-to-peer proof of stake (POS) BEP-20 token created as a multipurpose tool for the jewelry and media industries. DBZ will be used to facilitate distribution, transaction, and verification of assets (via tickets then certificates) within those sectors. The Diamond Boyz Coin will be a keynote asset for those holding it as social access and utility token while benefiting from it as a payment and luxury tool. DBZ as a cryptocurrency token and an NFT backed asset will more closely blind the aforementioned industries, benefiting both seamlessly from a platform referred to as Diamond Swap.
DBZ has been shilled by multiple hip hop artists such as DaBaby, Tory Lanez, Souja Boy, Paul Walker…
- Token Name: Diamond Boyz Coin
- Ticker: $DBZ
- Blockchain: Binance Smart Chain
- Token Standard: BEP20
- Contract: 0x7a983559e130723B70e45bd637773DbDfD3F71Db
- Token Type: Utility
- Total Supply: 1,000,000,000
- Circulating Supply: Updating
DBZ tokens can be traded on exchanges: Pancake Swap, Bibox, BitMart, LBank, …
Token Use Case
DBZ coins are used to purchase Events tickets and NFT on Diamond Swap. Johnny Dang expects DBZ coins will be used to buy real jewelry as well in the future.
Market and Community
The global diamond market is worth about $90 billion. If we look at the worldwide gold market instead, which is roughly $700 billion total, about 80% of that is actually involved in some kind of business or real use. We’re going to remove all barriers and make an attractive trade for those wanting to speculate. By doing this, it’s estimated that diamonds may develop to a staggering $350 billion industry, in 80%- 20% proportion.
What is the project trying to achieve?
The Diamond Swap Platform, powered by DBZ, will be a user-friendly platform that analyzes and facilitates high-frequency media event verifications via NFT–Tickets. The media-based platform will collect metadata and techniques from users to evolve the pre-existing and outdated rare-earth mineral industry. Using Johnny Dang‘s current hand in the Diamond sector, The Diamond Boyz will outperform outdated competitors in the field.
What is the unique selling point?
Diamond Boyz Coin
Diamond Boyz Coin is a cryptocurrency token built using solidity and “Blockchain” technology that is immutable and non-reversible. The DBZ keynote features prevent fraud and chargebacks on payments. The transaction ledger is public, dating back to the DBZ Coin genesis date of 06/22/2021.
Diamond Boyz NFT Collections
To begin, The Diamond Boyz Army stands for those original DBZ coin holders and new ones as well, ready to join the resistance against FOMO. The avatar collections feature hundreds of different attributes that translate into traits that vary within each NFT’s metadata or a “file’s DNA“. Written deeply in the code, users can view these percentage attributes by visiting opensea.io or an NFT marketplace of their choice to better understand the rarity of the NFT’s traits they end up with. Soon The Diamond Swap Marketplace will boast these same features. In time, DBZ ARMY NFT holders will also be able to store their avatars on The Diamond Swap platform as well.
The different backgrounds, companions, weapons, armor, and features begin a story for users to have fun with while holding a DBA ARMY NET. The features all tie into the gamification of The Diamond Boyz storyline and aims to entice new users into entertaining and informative ways to become the token holders. As time goes on, a digital comic book series and a trading card game will allow holders to make more use of the DBA ARMY NFT‘s they hold.
Holders will be rewarded with a variety of airdrops, holders rewards, staking privileges, voting rights, and more. Holders of the DBA series will be able to stake their NFT’s on Diamond Swap upon full launch and receive a percentage of royalties. 20% of all fees from the platform will be distributed to holders who choose to stake their DBA NFT’s.
Diamond Swap NFT Marketplace
Diamond Swap, a robust marketplace for all artists, musicians, and content creators to buy/sell/create NFT’s in a fun and easy-to-use way. On the Diamond Swap NFT marketplace, users will be able to “Mint’ create, buy, and sell non-fungible tokens (NFTs) as content pieces and access tickets. A wide variety of NFTs will be able to be traded on the platform such as artwork, event tickets, music, videos, and much more. Any idea a curator can imagine will all be able to be brought to life on the Diamond Swap NFT marketplace, which is the next major project for DBZ.
DBZ Diamond Decentralized Application(Dapp) PROJECT
The DBZ Diamond Dapp will begin by starting with companies across the entire Diamond Supply Chain starting from the authenticators, miners, to manufacturers, and ultimately the stores. Clients will be able to obtain digital certificates for their jewelry pieces which validate the authenticity and characteristics of its materials in the form of NFTs. These NFT digital certificates will be calculated by trusted validators and manufacturers, for example, a gemologist institute and/or a premier watch company. Once the company receives the NFT digital certificate from said validator, then it can be listed as authentic and thus for sale on the DBZ app.
- October 17, 2021: DBA Mint.
- November 2021: Start the diamond exchange.
- one week ahead of the NFT working experience: Airdrop offer you for Army DBZ holders.
- November 21, 2021: The world’s initial dwell NFT working experience.
- Quarter one of 2022: Manga Diamond Boyz Army.
- Second quarter of 2022: Gamex Diamond Boyz Army card transaction.
- 3rd quarter of 2022: Customizable avatar.
- Fourth quarter of 2022: Integration of the metaverse.
Johnny Dang, the legendary jeweler, known by the world as “The King of Bling” has risen to the top over the last 20 years by turning the jewelry industry on its head by creating some of the most outrageous and elegant pieces the world has ever seen. Earning him his legendary status amongst celebrities and fans all over the world.
Accusation of scam
Recently, a Youtuber named Khoa Pug uploaded a video claiming that he got scammed out of 1.3 million dollars by Johnny Dang(JD). He stated that after he had bought 10 million DBZ with 100,000 USD directly from JD, he later asked Khoa to give back all the tokens (then worth 1.3 mil USD) so Johnny can legitimize the tokens then he will return them to Khoa. However, JD didn’t return them until the price of the tokens plummet. Khoa also claimed that JD threatened to murder him If he didn’t shill the project.
The following day, JD uploaded a video to deny Khoa’s accusations. He stated that Khoa had actually agreed to promote the project and get rewarded DBZ tokens in return but Khoa broke the deal by selling his tokens and deleting any of his videos that are related to JD.
It is not clear who is in the wrong but only Khoa has provided his evidence which is the addresses of his wallets:
Since the incidence, the price of DBZ has declined drastically to 0.012 at the time of writing.
For many people, the mad rush into cryptocurrencies has evoked feelings of the Wild West. As the crypto ecosystem gains scale and complexity, more scam projects will appear. Whether DBZ is a scam project or not, it has shown too many red flags plus the scandal, investors should be extremely cautious before investing in the project.
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Disclaimer: This article is for informational purposes only, not investment advice. Investor should research carefully before making decision. We are not responsible for your investment decision