Terrible Token Tuesday – 11 ICOs going to zero faster than Crystal Pepsi
Terrible Token Tuesday would like to welcome this week a new batch of terrible projects that were reviewed on ConcourseQ.
The Concourse Open Community is also #buidling several interesting projects in the space. Check out our Discord for more on our very active community.
Our newcomers for this week:
VolAir – https://concourseq.io/Q/VolAir VolAir’s CEO has so many unsuccessful and seemingly shady previous ventures that it seems very hard for anyone to believe that he will pull it off this time. After following the project for sometime, it is really clear to us that this trend of failures seems to go on with VolAir due to a) The website seems to frequently go down, b) the project’s twitter account got suspended and c) the idea itself is not really original and has zero need for blockchain or a token for that matter.
Zed Network – https://concourseq.io/Q/Zed_Network Zed Network seems like such an unmissable opportunity for investors. Pre-sale started in July 2018, directly followed by a public sale that will continue till the end 2019. Of course the small cap of $129M is totally justifiable for a money transferring company bringing nothing new to the crypto ecosystem and that has no partners other than its CEO’s other ICO that does exactly the same thing!!!
Conventment – https://concourseq.io/Q/Conventment Conventment seems like yet another low effort project trying to put the Cannabis industry on the blockchain (if there wasn’t enough of those). But what set Conventment apart is asking investors upwards of $11M in funding while providing very little details about the project’s business goals, and how it intends to drive value to an otherwise useless token, while also inflating the team numbers with fake people.
Yumerium – https://concourseq.io/Q/Yumerium Yumerium seems like a really useless project with an equally useless token, made by a whole team of part-timers from the CEO down to employees, with wild claims about giant backers of the likes of HTC while the company only has partnerships with projects owned by the Yumerium employees.
Romad Defence – https://concourseq.io/Q/Romad_Defence Romad Defence ICO seems to be spun by an antivirus company with legit work, credentials as well as genuine funding. Click on to see to the lengths this pyramid ICO disguised as antivirus is going to in an attempt to get funding.
We are the Concourse Open Community. ConcourseQ (maker of this post) is one of our projects. We have another project called Dapped! (https://dapped.io/) It is led by two of the wonderful Qfellows that produce the due diligence that goes into TTT. Dapped is having its public launch on September 17, 2018! We are currently looking for writers to help make Dapped a success. Dapped is a for-profit project run by as an open org. Dapped is determined to make sure the ethereum dapp ecosystem stays FUN and SCAM-FREE! If you would like help out (and earn a stake in the profits of dapped) apply here: https://dapped.typeform.com/to/eUWGkm
And now some TTT vets gearing up to raise money:
Humancoin- https://concourseq.io/Q/Humancoin Humancoin could have been a good platform for facilitating charity funding, but instead it is choose to take a hefty 5% cut which is unreasonable to say the least, and instead of setting an example for other projects, the whitepaper seems to talk a lot about binance coin and its huge value increase in an attempt to draw parallels while failing to disclose the difference of models between Humancoin and Binance Coin.
Setoken – https://concourseq.io/Q/Setoken Setoken has a lot more red flags than just the strong suspicions around the team being fake. In fact, the token sale has been ongoing since March. Knowing how much effort and time an ICO takes, this means that all this effort will need to be diverted from the actual project development, and having to raise money for so long can also signal lack of traction for the project.
Inmin – https://concourseq.io/Q/Inmin Valuing peoples’ pay per hour should never need a token, and much less a $120M ICO raise, all for an unpolished startup idea and almost zero product.
Lancer Network – https://concourseq.io/Q/Lancer_Network Lancer Network aims to develop a centralised jobs marketplace with an unneeded token, as the platform will also accept ETH and BTC. If the idea is not that great, we won’t be holding our breath for the execution…when it comes.
OiCoin – https://concourseq.io/Q/OiCoin If in a parallel universe Osmium jewelry was a thing, then OiCoin would have had a shot. Of course in our dimension it does not seem like a great one, since dethroning gold’s millenia-established status is nothing short of dumb.
ECOS – https://concourseq.io/Q/ECOS The ECOS project is clearly attempting to drive FOMO from investors by throwing numbers around, but asking for $77M with no MVP, public evidence of development and an empty whitepaper from a team that seems questionable at best seems a bit like too much!
The ConcourseQ team would like to thank everybody that helped on these DDs and all the others!
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