VeVe Collectibles

They have recently made great improvements to the app and the way it functions! I wish to see it develop into something more professional for valuable digital collectibles. But great improvements for the app & community!

The updated app frustrated for me for some time and I gave a poor review but the updates have been outstanding! Love the customization in the app now and the dedication to making the app more social.

Great app and allows for a new way to collect some of my favorite brands

VeVe unapologetically introduced a new policy last year: no cash out option. They’re tricky.. See this isn’t very obvious. Back in 2022 their blog posts all indicated pay out was coming. So much money was spent on that app.. I mean after all, they’re partnering with the biggest names, they can be trusted.. right? So they opened it. For 3 months. For those of us who turn off spam Emails from crypto apps and assume veve would do right by you.. well.. you’re a sucker like me. Even in your wallet you see “1 Gem = 1.0 USD” As though that conversion matters outside of you buying their gems which are essentially like Schrute Bucks Farewell my 1.6k gems that I thought one day would be dollars. And farewell VeVe. I will be a loud advocate against you to any who will listen. Veve is a SCAM

This app is a total scam. Put money in several years back and they won’t let me take it out. It was almost impossible to withdraw before, now it seems they’ve made it even worse

If you put your money in you won’t be getting your money back. Millions have been lost that people can no longer withdraw their money. I myself have lost thousands because I can no longer withdraw my money.

This app and company is trash. It’s never been an option to convert your gems back to money and cash out and I’m so sick of it. Give me my MONEY. NOBODY SHOULD BE DEPOSITING MONEY INTO THIS SCAM.

I had never been much of a collector. It just never appealed to me. Veve has made digital collecting so fun with the ways they have gamified it that not only have a gotten involved with digital collecting I’ve even started collecting a few physical items as part of Veve’s phygital collections. Fantastic app with many world wide brands with more being added regularly. I highly recommend Veve

They made it so difficult to withdraw money and as of 2025 you will no longer be able to sell and cash out your money. It’s a scam, you may as well just throw away your money.

In the early days (2020–mid 2021), VeVe and ECOMI marketed the platform aggressively as an investment opportunity:Official blog posts, AMAs, and marketing repeatedly called collectibles “the future of investing.” Phrases like “digital assets with real value,” “store of value,” “appreciation potential,” and even “VeVeVerse will make millionaires” were everywhere. OMI token was pitched as essential utility that would moon because of reserve backing, burns, and collectible demand. Influencers were paid to say things like “these will be worth 10×–100× in a few years.” Then, after the NFT crash and mounting regulatory scrutiny (especially the 2022 U.S. securities lawsuits), VeVe did a complete 180:Suddenly everything became “collect for the joy of collecting,” “hobby,” “entertainment only,” “no financial value implied.” They scrubbed or edited old investment-heavy posts where possible. Terms of Service were updated to hammer home that collectibles have no guaranteed value and are not investments. David Yu started saying in Spaces “we never promised price appreciation” and “people who treated it as investing misunderstood.” Users who bought in during the “investment” era (the vast majority of 2021 bagholders) watched their portfolios lose 90–98% while being told they were never investors in the first place. This tone shift is cited constantly in “why I quit” posts as the moment many realized they’d been marketed one thing and sold another. VeVe / ECOMI has been hit by a long string of scandals and broken promises from 2020 to November 2025:Gem Gate (2022): Hackers stole millions in gems, laundered them through drops, and VeVe refused to reverse trades or properly ban accounts, leaving innocent users holding tainted collectibles. Rhys Graham pump-and-dump (2021–2025): Former community manager repeatedly hyped news and announcements so insiders (including himself) could sell massive OMI bags at the top, then disappeared in early 2025 after cashing out. “Cooling down the market” (2023 onward): CEO David Yu openly admitted to deliberately suppressing secondary market prices and activity to reduce gem cash-out pressure, crashing floors 70-95%. Metaverse bait-and-switch: Four years of “VeVeVerse will make millionaires” marketing ended with a slightly fancier in-app showroom in 2025 instead of an actual metaverse. GoChain lie (2020–2021): Claimed every collectible was minted on GoChain as GO721 NFTs with real-time explorer verification; the explorer showed zero evidence of any NFT contracts or mints. Falsified court documents (2024–2025): Allegedly submitted altered affidavits in a U.S. securities fraud case, creating potential perjury exposure for David Yu. Racist team member (Dec 2023): Decade-old posts with racial slurs resurfaced; the employee was only fired after the community applied heavy pressure. Extreme whale favoritism & exclusivity scams: V1 Gold/Silver Logos and event redemptions given away at physical cons to ~500 people became permanent gatekeepers for future drops (e.g., VeVe Coin S1), locking out 99.9% of users. Rampant botting & stolen credit card gems: Fraudsters routinely bought gems with stolen cards, dumped on the secondary market, and VeVe did little to stop it. Ownership lies & self-custody delays: Promised transferable NFTs since 2021; still not delivered until at least Jan 2026, with inactive accounts losing everything and gems now permanently trapped in-app. Taken together, these incidents paint a picture of repeated hype, manipulation, broken promises, and insider enrichment at the expense of retail users, resulting in 90%+ losses for most long-term holders. Notice how in the developer reply they don’t actually address anything I said. Also if you look at all the positive reviews last month that was due to a paid campaign to try and convince you this app is not a scam.