Terrible Token Tuesday – 10 ICOs That Aren’t Getting Off Timeout Anytime Soon
THE NEWEST OF NEW
Casper API – https://concourseq.io/Q/Casper_API Casper API and Ethereum’s Casper have nothing but the name in common, and by the looks of it, the project seems like a rebranded centralized storage provider with a pinch of blockchain that will most likely make it costlier than legacy cloud services, with none of the decentralized benefits. The biggest red flag remains the absence of encryption on the platform. We are not sure how the project is even considering storing client data in plain text on untrusted 3rd party hardware!
Stern – https://concourseq.io/Q/Stern The whole idea of asking for $10M in funding for a marketplace just because it accepts crypto is ridiculous. On top of that, Stern’s team seems more fake than not, while the token design is so bad that it is complicating the whole idea, and hindering project’s adoption instead of bootstrapping it.
WizeBit – https://concourseq.io/Q/WizeBit_Personal_Assistant WizeBit is a salad of private blockchain, AI assistant , IOT box, ghost drive, you name it. Each one of those ideas is a huge technical feat being tackled by industry giants and clearly out of the league of WizeBit’s current team. This is a typical case of piggybacking on hype as much as possible in an attempt to raise funds.
W12 – https://concourseq.io/Q/W12 With very little more than a questionable team, a useless token, and a website just created in January 2018, W12 is promising investors 87 times returns on ICO’s fundraising on the W12 platform, while an earlier version of the website was predicting a $2 Trillion market cap for their token by 2021!
Papusha – https://concourseq.io/Q/Papusha Papusha project is such a bad mix of pseudo-science and irrelevant blockchain that it is our featured DD for the week. Check it out!
Some of TTT’s distinguished previous features that are still gearing up to raise money.
Subaj – https://concourseq.io/Q/Subaj_Global\%20Network Subaj Global Network is a mess of an ICO. A team with no blockchain experience wants to create a blockchain, a marketplace, and an exchange all based on the wonderful Pokemon Go technology! (if that is a thing) Team claims to have been working on the project since 2010, almost as early as Bitcoin. We are not sure where all that time was spent as the project does not even have an MVP. Maybe it’s because the project’s domain was just registered in April 2018?
FIFAchain – https://concourseq.io/Q/FIFAchain Using the FIFA trademark during the World Cup without a license, complete disregard for SEC rules, and no KYC/AML are only some of the long list of red flags for the FIFAchain project. In fact, in addition to all the above, the idea does not make sense, the spelling mistakes, the low social following and the anonymous team that can exit scam at any second comes as the final straw that broke the camel’s back.
BrokerNeko – https://concourseq.io/Q/BrokerNeko BrokerNeko funnily rhymes with breaking neck. Interesting because any investor foolish enough to jump in on this one is definitely not getting out without any broken bones. Whether it’s the Twitter suspension, the 4 Billion Tokens that will dilute investors over 6 rounds or the previously failed projects, all we are sure of is that this one will not be going to the moon.
You42 – https://concourseq.io/Q/You42 We don’t know how You42 plans to attract social media stars to its platform, if it wasn’t able to attract more than 47 Twitter followers in the 11 years and 7 months of alleged existence. We are not sure if the worst that project has to offer is the fake team profiles or dedicating 20.5% of ICO funds to administrative expenses!
EMINENT Token– https://concourseq.io/Q/EMINENT_Token_-_Fuel_For_The_BeepBeep_Nation_App Creating an App that is called BeepBeep Nation is a great demonstration that you can’t even trust the Eminent team in picking a product name. What about trusting them with your money? Well the CEO’s previous ventures: “Passive Income Mastermind ” “Life Changing Concepts” & “All Net Profits Center” come in handy to confirm a definite #SOMO (Satisfaction Of Missing Out)
The ConcourseQ team would like to thank everybody that helped on these DDs and all the others!
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