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$1.1 Million Sent to NotLarvaLabs Founder’s Wallet for ‘Nothing’ in Return – What’s Going On?

Last updated: | 1 min read

Donations and crowdfunding play a significant role in the cryptocurrency space, driving a considerable amount of activity and engagement.

But what happens when you launch a social experiment and ask supporters to send you crypto, promising them nothing in return? You receive as much as $1.1 million worth of Ethereum (ETH) in only 24 hours, apparently, as indicated by the example of Pauly, the anonymous co-founder of community-built NFT marketplace NotLarvaLabs. 

In contrast to initiatives that promise contributors tokens, participation in future gains, or any other type of tangible or non-tangible gains, Pauly made it clear in his call for donations he will not reward his supporters with anything of value.

Controversial initiative

Some observers have described Pauly’s project as an example of performance art, while other believe it to be a clever get-rich-quick scheme to collect significant crypto assets without investing much of their time or effort. 

“An incredible social experiment!” user ViralLurk commented on the initiative. 

“I [s]ent $150 in funds with the explicit understanding and expectation of receiving nothing of value in return,” claimed user Zeeno. 

Another user, Emirati on-chain analyst Yazan Al Kharouf, said in his tweet that the initiative’s entertainment value was what convinced him to donate a share of his crypto assets to Pauly. 

At the same time, user bustelobricks.eth observed that, as more than “a million dollars worth of Eth was sent to @Pauly0x. The only lesson to be learned from this is “you don’t tell people how to spend their money.” Why you mad? It’s not your money.”

Regardless of Pauly’s specific campaign goal, it is evident that their substantial following on social media, particularly with over 74,200 Twitter followers as of June 1, has significantly contributed to its success within the cryptocurrency community.

Meanwhile, the latest controversial effort has spurred a number of similar initiatives on the social media, with various influencers and users asking their followers to donate crypto in return for nothing.