Many NFT projects lack adequate smart contract testing, says nameless founder
Jimmy McNelis, the founder of Web3 tech firm nameless, says there are too many nonfungible token (NFT) projects rushing to market without proper smart contract testing — potentially leading to millions lost. Speaking with Cointelegraph, McNelis suggested that a lot of NFT projects often rush to market without fully simulating how their smart contracts will work, in some cases even skipping extensive audits.
McNelis said an example of this was observed during the sale of the Akutars NFT collection in February 2021 — featuring 15,000 tokens that went up for sale on Winklevoss-owned NFT marketplace Nifty Gateway. McNelis explained that while projects can use public test nets to conduct trials for networks like Ethereum, many don’t as it could open the door for copycat scam projects. He also says that some don't want to test in public environments due to the lack of confidentiality.
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