Chubby Grubby

Hey guys, we have another FREE mint project, take CAUTION as you will find attached below project founding wallet has direct contact with a middleman wallet that is used to funnel ETH to a known RUGPULL project.

The project claims to feature a vast amount ETH rewards that will be randomly given away to holders of a Chubby Grubby NFT every three days.

It is claimed that the founders of this project are tired of the overpromises made by many other projects and they wish to focus on the rewards system they have planned, exclusively. Best of all the project is a free mint, meaning that this project could represent good future value.

Who is Behind the Project?

Unfortunately, the team is completely undoxxed. We only know the 3 founders who go as Chubby, Grubby & Tubby. No other information is known.

Team Members

Grubby – Artist
Chubby – Marketing
Tubby – Web Design

The team is small and completely undoxxed. It doesn’t look like any developers are on the team, but it’s perhaps not listed, or they are outsourcing smart contract development. Because of the nature of this project being totally undoxxed I would suggest minting from a new burner wallet, if you choose to mint.

About the Collection

The 10k collection of Chubby Grubbies is soon to be minting onto the Ethereum blockchain. The collection features, bright, bold and vibrant artwork. The Chubby Grubbies come in a range of exciting styles. There are so many traits – the collection boasts a mind-boggling 252 hand-designed traits and 5 special legendaries for those that are lucky.

Each Chubby is as unique as the last, the 252 unique traits ensure a highly varied final NFT. The possibilities are massive. Chubbys can have variable mouths, eyes, clothing, background, headwear, accessories and more! Some of the combinations generated on the site look exceptional. I am a fan of the artwork itself. I believe the artwork alone has the potential to be a hit within the current market.

Outside of the clean artwork the project has one clear goal. Not to over-promise, but to do one thing well. The sole plan of the project is to give away 50% of the royalties created to random holders. Every three days and first beginning one day after artwork reveal (29th August) 50% of all royalties collected from secondary sales (10% creator royalties on Chubby Grubby sale) will be dropped to the wallets of 10 random Chubby Grubby NFT holders.

For example, let’s say Chubby Grubby did 500 ETH in secondary sales in the first 3 days, 50 ETH in royalties have been created as a result of the 10% creator royalty fee. 50% is allocated to the drop, so a total of 25 ETH is dropped to 10 lucky holders, resulting in a drop worth 2.5 ETH per holder.

This sounds like an incredible way to give back, and this is all off the back of a free mint. Every three days the random drop will be made. After a period of time not yet disclosed, the 50% shared creator royalty giveaway will be bumped up to a staggering 80%. A list of all winners will be maintained on the site.

Road Map

As expected, the Road Map is no-nonsense and very brief. Please see the brief Road Map – so brief that it can in fact be summed up with just a GIF alone.

For those that like a little bit more text –

• 1. Free Mint
• 2. Maximize Chubbiness
• 3. Listen to Chubby Grubby Anthem on repeat
• 4. As a community, establish arbitrarily high floor price >10 ETH
• 5. Maintain Grubbiness
• 6. Utility mechanic (at least 50% royalty revenue redistribution every 3 days)
• 7. Immense profit; internet breaks

Straight to the point and no fluff or filler. The honesty is refreshing.

Socials

Only a twitter so far, it’s still to be seen if a Discord will be made.

• Twitter – 16.2k followers | Joined November 2021 – Medium Twitter account. Been around for a while it seems. Occasional tweets. Tweets get good engagement. No collabs – but they seem to take pride in that.

Smart Contract

Smart Contract can be viewed here.

Smart Contract Project Founder Wallet has had direct contact with a MiddleMan wallet that is used to funnel money into a known RUGPULL project called STRONG APE

Price & Mint Date

The project is totally free, with a maximum mint of 2 per wallet.

The project will be minting on:

• Whitelist – August 27th 09:00 CDT
• Public – August 27th 15:00 CDT

Whitelist is fully allocated 1200/1200.

All NFTs will reveal on August 28th 12:00 CDT with the first 50% secondary royalties paid out to ten lucky holders on August 29th 21:00 CDT.

Conclusion

The artwork is on point and just the type of thing people are coming to like in this bear market. People aren’t taking things too seriously and the playful artwork from Chubby Grubby fits right in. Did we also mention it’s free? We all love a bit of free mint action, no less free mint action that has a chance to reward you with a fat ETH payout. It almost sounds too good to be true.

The shortcoming of this project is that it sounds too good to be true. A project building enough momentum from a free mint to pay a sizeable royalty to holders is no easy feat. The project will have to build a lot of momentum and sustain it, if the momentum wanes, the prizes wane and then interest decreases in the project – it’s going to be a delicate balancing act. Furthermore, the team is totally undoxxed – who’s to say that they are not going to substitute the contract on mint day with a dodgy one, or maybe even run away with the proceeds created from the secondary sales before the giveaway? We do not know, we are blindly trusting them.

Overall, great artwork and a cool idea but I do have some concerns about the legitimacy of this project. If you are getting involved it’s important that you use a burner wallet with minimal funds in case the worst happens.

As always, please do your own research. This report does not constitute financial advice.