What is Charactbit (CHB)?

The Solana blockchain has gained a lot of attention recently because it’s far faster and cheaper than Ethereum. Many decentralized applications and NFTs have launched on the blockchain and some have been wildly successful. 

There have also been plenty of scams. 

This article will focus on one Solana blockchain project called Charactbit (CHB). We will cover all you need to know about this token and project. 

What is Charactbit (CHB)?

Charactbit (CHB) is a project on the Solana blockchain. It’s some sort of metaverse project that uses NFT characters. The developers appear to have used Google Translate to translate the writing from another language to English, which makes it extremely difficult to discern what this project is about. 

We can say for certain that a token for this project exists called CHB. Everything else the project discusses has not yet been released. 

Again, it’s extremely difficult to discern what this project does because the English on the website is terrible. It really does appear to just be Google Translate text. 

As such, we will not even attempt to decipher what the developer is attempting to communicate. They should hire a professional translator if they want to pitch their project to English speaking investors. 

Our Problem With Charactbit

So, we have a lot of issues with Charactbit – most of them come down to a lack of transparency with the project. We will cover all of these issues in detail in this section. 

The English is Terrible

We understand that not everyone is a native English speaker. This is still no excuse for having copy on the website that English speakers cannot even understand. 

You cannot expect anyone to invest their money into a project when they cannot even understand what the developer is attempting to communicate. For instance, what is this sentence even supposed to mean:

“ A Forms token is a kind of a fan token. which is generated individually. As the number of fans increases through streaming, fans mine through donations.”

We believe Forms are the name of the NFTs. But what does “fans mine through donations” even mean?

The low level of English makes it too confusing for us to understand, so we would not invest in this project.

Anonymous Founders

It appears the founders of this project are anonymous. We don’t like anonymous founders because it’s so much easier for them to run off with everyone’s money with no repercussions. 

Now, it’s not something that we entirely avoid – some cryptocurrencies require anonymous founders. However, this is not a cryptocurrency that benefits from having an anonymous founder. 

Is Charactbit (CHB) a Good Investment?

No, we would not classify Charactbit as a good investment. It might be a legitimate project that takes off in the future. 

Our problem is we literally cannot fully understand what the project is about because the English is so poor. Most native speakers likely have no idea what the developer is attempting to communicate on the website as well. 

With that in mind, we would not invest in a project when we don’t even know what the developer is trying to do with it. 

Is Charactbit (CHB) a Scam?

The website has an English version and a Korean version. It’s clear that the writer is not a native English speaker, so they are likely Korean. 

We assume that the Korean version of the website is far more clear about what the project is attempting to do. 

Moving on, this project appears to be a metaverse project that also has an NFT component to it. Our issue is that none of this has actually been released and the developers are anonymous. 

That’s a really bad sign. Most projects have some sort of working prototype when they launch. If they don’t, then they pretty much need a fully doxxed founder to convince us the project isn’t just a scam. 

To answer the question, we would say the chances of this project being a scam are fairly high based on all the information available. But the developers have not scammed as far as we know. 

Closing Words

To summarize, Charactbit is a metaverse project on the Solana blockchain. The English version of the website is so terribly written that that’s all the information we can really decipher about the project. 

It has anonymous founders and has not released anything other than a token. 

There are probably better projects out there to invest in than this.