Blazpay AI ($BLAZ) Token Presale – Scam or Legit?

Another day, another presale.

Though some of them are indeed legitimate, it seems that for every one of those, there are 10 that are not.

Enter Blazpay, the “best” presale since Maxi Doge.

Another blockchain + artificial intelligence (BAI?) play, Blazpay is the self-described “AI crypto application of the future”.

A novel “conversational AI” feature has drawn attention to this project and its presale, but is Blazpay legit?

Key takeaways

• Blazpay’s PR is bought and paid for.
• Many unverified claims have been made (too many to list here!).
• 100x and even 1000x price predications are off-putting.

What is Blazpay?

The whitepaper states that Blazpay is an AI-Powered Unified DeFi Platform, which sounds a bit like every other crypto project at the moment.

However, Blazpay does have a few interesting feathers in its cap that are worth investigating further.

Blazpay is not described as launching on any particular blockchain, suggesting that it will support most of the major ones while also listing that as a roadmap item.

It is unclear even which blockchain an investor will receive their $BLAZ tokens on, and there is no information on what gas fees may comprise.

The whitepaper, which is the only part of the project that doesn’t make me shiver, outlines five major propositions in the Blazpay product suite that all sound great.

Assuming they work: a unified trading engine, AI-powered investment management, on & offramping, gamified rewards, and a B2B API/SDK.

Blazpay’s revenue model revolves around fees: subscription, transaction, sales-derived, and through whitelabelled solutions.

It is not clear how tokens factor into monetization plans.

The $BLAZ token presale

Following on from Phase 1, the Blazpay Presale Phase 2 is taking place right now.

Press releases published during Phase One reported that an initial 4.5 million $BLAZ tokens were quickly sold (9% of the target) on October 10.

By one week later, on October 17, this number had risen to 38 million. This is still less than the 55 million tokens they hoped to sell.

Regardless, Blazpay hiked the price and marched on into Phase 2.

A total of 340 million $BLAZ tokens—34% of the supply—will be sold to investors via the public presales. Phase 2 ends on October 31st, and if you believe the official figures, it has already sold over 80% of the allocated tokens.

Rather than launch the token after Phase 2, expect to quickly see another price hike and a Phase 3 sale.

Buying $BLAZ is apparently possible with 50+ tokens, but only 8 are listed.

Nothing about the site is comfortable, and though the page includes “how to” instructions, these do not include screenshots of the experience, which might improve confidence.

With so many coins and chains supported by the sale, it suggests that Blazpay is more eager to take any of your crypto than provide you with $BLAZ.

$BLAZ token use cases 

The one billion $BLAZ tokens will (eventually, probably, maybe…) provide the folllowing benefits to holders:

• Staking – You know how it goes, stake $BLAZ earn $BLAZ.
• Incentives – Airdrops and ecosystem campaigns may pay out $BLAZ rewards.
• Governance – $BLAZ holders will be invited to join the Blaz DAO and vote on decisions.
• Fee discounts – Pay fees in $BLAZ for a discount.

It is not clear whether the $BLAZ token has any deflationary pressure such as burns, and a significant percentage of the token supply is withheld for liquidity, staking rewards and treasury management. It will likely be an inflationary token.

Legitimacy indicators

In the interest of balance, we must talk about things the project has done well or right as well as all the terrible stuff. In this case, it’s quite challenging to do so, but here goes.

• The Blazpay team—Fair enough, both co-founders actually do exist and have doxed themselves. You have to respect that. Shubham Bisht, co-founder and CTO, is a full-stack blockchain engineer and technology consultant. He claims to have previous experience scaling a blockchain project to a $650 m market capitalization but doesn’t go into specifics. It was possibly Klaytn.

• Pivot’s Medium post – found in the deepest, darkest corners of LinkedIn, this blog from global venture accelerator for web 3 firm Pivot would have you believe Blazpay is the next BNB. It is clearly designed to boost the profile of the Blazpay team and project, but it is likely a better representation of the team’s ability to sell than their ability to deliver value.

Sharing posts marked clearly with “private and confidential” on a public Medium is next-level degen and we love to see it, but that doesn’t mean Blazpay actively has the backing and support of these logos:

Red Flags

There are tons of 404s on the site—Clicking on any of the various NFTs that Blazpay claims they’re selling will lead to a “not found” error on their site. The “DeFi” link in the main website navigation simply doesn’t work.

Also, “Alan Wright” ([email protected]), the contact details used at the bottom of sponsored promotional content don’t instill much hope that an actual human is using them.

Blazpay Medium account is currently a 410 error. This means Medium is not happy to publish Blazpay content. If you know much about the crypto content posted there, you’ll know this is redder than red.

The Blazpay blog section of the website suggests that in January 2024, three blogs were written about Blazpay. However, clicking on them leads to a 404, and they don’t even have cover images.

Live transaction tracker widget claims to show you sales happening in real-time, but without the ability to click through to a block explorer, there’s no proof they are real.

High community follower accounts with low engagement. This is almost always a sign of a botted account. Comments underneath tweets are almost exclusively poor-quality and low-effort.

“100+ blockchain integrations” – this claim, made via a post on X, also says there are over 1.2 million Blazpay community members. This number is sometimes referred to as users, which is even more crazy.

A large button on the site suggests that the presale is “security verified” (whatever that means) by QuillAudits. The clickable “view audit details” button does nothing. It is obviously designed to look legit, but it’s an empty shell.

QuillAudits offers many audits, none of which are called security verification. Despite having audited over 1400 crypto projects, Blazpay was not one of them. Was it, QuillAudits?

Typically, a project’s smart contract is audited, and publishing the contract address (CA) is a big indicator of legitimacy.

Do you think Blazpay have published theirs? No? You think correctly, anon.

“Media partners” & Supported by claims section of the presale page is a nice collection of recognizable logos. Unfortunately, without links or any evidence, there’s no proof of any affiliation.

Meanwhile, the roadmap was also an indicator of legitimacy because of its content, but if we consider that it only covers Q3 2026, that becomes a red flag.

What ambitious project in the crypto space only plans one year ahead? The lack of forward planning is a serious concern.

The FAQ on the presale page states that there is a fee to use the platform, and that transactions can take a few minutes. This is pretty unusual and concerning.

Verdict – Is Blazpay presale a scam?

Projects like Blazpay put the “Extreme” in “Extreme Caution Required”. As we can see, the list of red flags is much, much longer than the list of legitimacy indicators (and even they come with salt).

Marketing claims are fun and all, but they have to be backed up by a value proposition that can deliver meaningful value to people’s lives, or at least their crypto portfolios.

Blazpay seems to be, at the same time, trying to do too much and doing too little.

Whilst you can be sure they’ll take your hard-earned dollars through any of their presales or NFT offerings, there’s almost no hope they’ll deliver any tangible value, now or in 2026.

AVOID like your life depends on it.