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Jordy
Waanders

Pulled rugs

Project details

Year
2022
Programme
Graphic Design
Practices
Commercial
Minor
Data Design

Rug pulls are a scam where developers build and promote what appear to be legitimate cryptocurrency projects with the intent of creating large amounts of interest.

Once enough money has been invested they steal the funds and disappear leaving the investors empty handed. Metaphorically pulling the rug from underneath them.

Increase in mainstream media reporting and the recent craze surrounding NFTs have piqued my interest in a topic I knew next to nothing about. This increase in popularity has the unfortunate side effect that it also provides scammers with a large amount of new targets to take advantage of.

Using the insights from my research I made a visualisation of the 14 largest decentralised rug pulls that have occurred in 2021. Merging the concept and the medium of an actual rug with the intent of shedding a light on one of  the  most frequently occurring pitfalls of investing within the decentralised economy.

Each shape on the grid represents one of the 14 rug pulls whereas each square on the grid marks 0.025 million USD.
The black blocks are on a separate grid of 12 rows displaying the month the rug pull took place from largest to smallest, top to bottom.
Blueprint final rug design combining all elements.