If you’ve been following the 3D printer industry one name that you may have frequently heard recently is Massive Dynamics. But an investigation into the company led by Prsnlzme.com and reported on c|net has discovered that all the company’s hype may just be some sort of stock scam to capitalize on the frenzy surrounding 3D printing.
Many industry websites, including ours, have been reporting on a constant stream of Massive Dynamics’ press releases which have helped build a viral buzz around the company. Since they announced their new 3D printing division earlier this year a regular flow of upbeat news has come from the company, but it has been found that there’s not much substance behind any of their claims.
The company told everyone that they had bought a Hong Kong based printer supplier, called PrintForge 3D, but it has subsequently been discovered that there is no evidence of the company even existing before the Massive Dynamics’ press release announcement. They also announced that their new model of printers had shipped and were displayed at the Annual China Machinery Fair in Xi-an in China, but industry experts doubt that this show even exists.
As it seems that their 3D printer product may be vaporware some doubt crept in relating to the other tech products shown on the company’s website. After further scrutiny most of the products were found never to exist, were copies other company’s products or products which would never likely see the light of day.
Rich Brown at CNET concludes that the company seems to have created a website, a virtual office location, continually fed PR stories to Business Wire and offered shares through the lightly regulated OTC OTCQB exchange as a means of driving up stock prices as a way of making money.
Whether this is the case remains to be seen but it does go to show that with any emerging technology that has been touted as “world changing”, such as 3D printing, there will be some individuals that will try to take advantage of the mega-expectation that the new technology may bring.