What does shilling a cryptocurrency mean?

The short answer: Shilling a cryptocurrency refers to the advertising of a project, before it ends in a rug pull. The slightly longer answer: when a person is actively engaging in covert endorsement of a cryptocurrency, they’re shilling it. The end goal is to generate hype around the project so that people buy into the buzz and invest.

What is shilling and how does it work?

Shilling is an activity in which someone actively promotes a cryptocurrency to artificially inflate its price by inducing other investors to buy the coin. The goal of a shiller is to induce an asset's price spike, typically within a short time.

Is shilling legal?

The cryptosphere has a lot of terminology and little to no regulation. "Shilling" is a form of advertising for a crypto asset and the lines of legality are blurry. The world of Web3 and cryptocurrencies isn't the most straightforward.

What does Shill mean in NFT?

Shilling is a form of marketing that aims to promote a crypto or NFT, usually with the form of celebrity and telegram endorsement campaigns. The overall goal of shilling campaigns is to create more demand for a cryptocurrency token or raise its price.