Don’t STOP Believin’. 11 ICOs Taking The Midnight Train To Nowhere
Same as every week, the Concourse Open Community is hard at work finding the most terrible projects on ConcourseQ and bringing them to you on Terrible Token Tuesday.
The Concourse Open Community is also #buidling several interesting (non-terrible, we hope) projects in the space. Check out our Discord for more on our very active community.
The terrible projects taking the lead this week are:
Parkres – https://concourseq.io/Q/Parkres Parkres is introducing a brand new “utility” token to pay for your parking spot. But even Parkres seems to admit the token’s lack of true utility – the platform will accept other crypto and even PayPal. Not sure why anyone would risk price volatility and getting left bagholding (there’s a 70% presale discount) instead of just using fiat for parking. Plus, the project’s roadmap doesn’t even fully materialise until 2025.
Welleth – https://concourseq.io/Q/Welleth Welleth looks like an off-the-shelf scam, fake team and all. When confronted, they did expel one fake team member, claiming he used false info for fear of the security risk that would come from the project’s popularity. We predict that won’t be a concern for the remaining scammers, especially if their anemic Twitter following is any indication.
Aivon – https://concourseq.io/Q/Aivon "AIVON is a decentralized blockchain platform and protocol built on an Artificial Intelligence (AI) network and a community of human experts working together to generate normalized and enhanced metadata for video content." Get it? We don't either. Seems that all those buzzwords haven’t even sold the AIVON team on the project; hardly any of them are willing to publicly mention their association with it.
ArtPro – https://concourseq.io/Q/ArtPro ArtPro’s team seems like the weirdest collection of people. Most are part-timers (even the founder), and at least 3 are CEOs of other ventures. This might be an all-star team if only all those other ventures weren’t failures (or sure to become failures). With no GitHub activity and only one engineer, it’s safe to expect that ArtPro will follow suit.
Expercoin – https://concourseq.io/Q/Expercoin The trend of needlessly trying to shove blockchain into existing products and services continues. Expercoin = Experfy + blockchain buzzwords + useless token. Over five years after launch, Experfy still struggles to achieve adoption, despite its $1.5 MM in seed funding. We doubt that changing “-fy” to “-coin” will do much to help.
Link to Journey Live in Houston. https://www.youtube.com/watch?v=VcjzHMhBtf0
Excolony – https://concourseq.io/Q/Excolony Excolony’s team thinks it’ll be the best centralized exchange in the world. Not surprising from a bunch of marketers with zero technical talent. And the gimmick of crediting investors with double their initial deposit seems easily exploitable and likely to bankrupt these naïve marketers. Even aside from all that, we hesitate to entrust our hard-earned funds to a project that can’t even spell “Welcome.”
Kryptoin – https://concourseq.io/Q/Kryptoin Kryptoin’s inexperienced team thinks they’ll succeed with crypto ETFs despite the failures of all major players so far. Hard to imagine the SEC taking them seriously with their lack of notable relevant experience. Good news, though – looks like Kryptoin has erased its former CFO, a literal cartoon.
Zaza – https://concourseq.io/Q/Zaza Zaza is the brainchild of longtime NBA center Zaza Pachulia. jk, it’s worse than that – narcissistically named after its CEO, Zaza claims to be some kind of B2B solution, but its “MVP” is just a clunky webstore full of stock images. As Mr. Pachulia surely would understand, a B2B MVP worthy of investors’ attention should involve viable blockchain infrastructure without an unnecessary token.
Trecento Blockchain Capital – https://concourseq.io/Q/Trecento_Blockchain_Capital TBC’s trying to raise 20 MM euros for a token whose supply is listed as “Capped First Come Best Served-basis, variable supply.” Let us know if you figure out what that means. And the token’s only apparent uses are a declining discount on management fees and participation in a questionable system of non-binding voting for potential investments. No on TBC!
Cryptocurve – https://concourseq.io/Q/Cryptocurve Cryptocurve’s ploy to lure investors with a 300% presale bonus won’t work on us. As for the tech, we might be impressed by the working wallet if it weren’t just a repackaged MyCrypto fork with no recent commits. This team is nowhere near its lofty goal of creating a fiat gateway, and we can’t see how an ICO for a pointless token on Wanchain will help get them there.
Ethedge – https://concourseq.io/Q/Ethedge What’s there to learn from Ethedge? That “No ICO” doesn’t always mean “No Scam.” This project has no team (arguably an improvement over its previously-listed fake team). And it apparently plans to create money out of thin air – and a lot of money at that. Check out the link for more information on this blatant scam, caught first by our friends on the r/ethtrader mod team!
The ConcourseQ team would like to thank everybody who helped on these DDs and all the others!
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