DJ Sbu was conned out of ‘a little under R20k’ by scammers in the cryptocurrency space
‘They scammed me, they disappeared, they blocked me and I never found them again’
DJ Sbu is one of the first artists in Mzansi to venture into the NFT (non-fungible token) and cryptocurrency space and wants to empower people about how they could benefit from it.
A non-fungible token is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded, and a cryptocurrency is a form of digital currency.
The DJ takes pride in being the first local musician to sell 10 pieces of NFTs in three days with his first album, DJ Sbu Enters The Metaverse, and is looking to launch more in the space in April and June this year.
“I like that everybody in the culture is moving towards cryptocurrency and finding out creative ways to sell their music. I'm finding more creative ways of dropping my music, incorporating it with my cryptocurrency knowledge, so I can either drop NFTs or share knowledge around how to create it and what it is,” he told TshisaLIVE.
While DJ Sbu experienced instant success when launching his album on the metaverse, he admitted he can't say the same about his first experience with cryptocurrency after he was scammed in 2020.
“I've been scammed but then getting more knowledge made me understand it's not crypto that is the scam, it's the people who scammed me with their knowledge that is better than mine.
“Someone can DM you and lie to you, saying if you give them 1k it will be 10k in three weeks. A lot of the time you sort of don't want to believe this person but because you want the money you end up in the traps. That's the same thing that happened to me during the first lockdown in 2020. It was a little less than 20k, which is a lot of money. After I was scammed I was pissed off but then I understood it's not crypto that's the scam, it's me falling into the trap of trusting people. They scammed me, they disappeared, they blocked me and I never found them again.”
DJ Sbu said his experience should not cause people to shy away from stepping into the crypto world but rather be cautious and equip themselves with enough knowledge before trying it.
“A lot of people are afraid to try new things but there are also a lot of people who have been naughty. They've taken advantage of their knowledge of forex and taken advantage of people who want to get into forex who don't have money or the knowledge/
“People who know crypto who have a lot of knowledge sadly tend to use their knowledge to scam other people or take advantage of the so that's why people are reluctant to get into the space. The market is always volatile/ so instead of me giving someone money I do my own research. Look after your money. Don't give your money to just anyone.”
Eight months later since embarking on the crypto journey during the lockdown, DJ Sbu is thriving within the crypto space, launching NFTs, while also trying his hand at real estate, growing Mofaya, Massiv Metro and his podcast Hustler's Corner.
“I'm looking into growing more media properties.”
Speaking of the radio collaboration project alongside DJ Fresh, Robert Marawa and Tbo Touch which they've been teasing towards since early 2021, Sbu did not confirm whether it was set to take place but congratulated his peers for getting new gigs on radio.
“Robert Marawa congratulations to him, and shout out to Touch. Congratulations to my brother. He is starting a brand new show soon. With all these opportunities, it's a beautiful thing.”