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5 Worst ICO Promotions

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  • Eric Eissler
    ⭐ Features

    The PR teams behind these coins failed the companies, and by failing, so did the coin and the MVPs, not by a little, but by a lot

5 Worst ICO Promotions
Cover image via u.today
Contents

What is worse than being a failure is being a failure with poor marketing and advertising. The following are some of the biggest failures, due to poor marketing practices, for 2018.  

Centra Coin

Floyd Mayweather was a celebrity endorser of Centra Tech, along with DJ Khaled, but the endorsements did little to promote the coin when one of the co-founders, Raymond Trapani was arrested on April 20, 2018 and charged with securities and wire fraud for more than $25 mln associated with the company’s ICO. After that, there has not been much more news. Oh, and they claimed they entered a deal with Visa, which even Visa denies. How low can you go?

Narrative Network

While the assonance is on the “N” the Narrative Network has done very little in creating a story worth reading. It was named the next Steem but failed to deliver on any of the promises it made. To top it off 50 percent of the ICO, $7 mln of the $14 mln raised went to the team and to development, leaving the token severely undervalued. While the name has a ring to it, it is rather dull and does not suggest robust writing but non-descript nonsense.

Bee Token

If you got stung by the bee, you are not alone. What was thought of as the decentralized Airbnb of the cryptoworld, got rave reviews of course, but it was not until right up to the end that the problems emerged. There was a planned scam that diverted funds out of the company and into the hands of the founders? Most likely, but after a strong ICO, the bee sting was suicidal as the token price never got off the ground and ended being another worthless ICO in the ending up in the rubbish bin.

RentBerry

Berrys are small and sweet, but RentBerry is small and sour because from it’s initial value, it has only lost money for its token holders. Crashing down about 900 percent of what it was worth, essentially rotten on the vine. The premise of the rotten RentBerry was to use security deposits as a form of investment. This investment scheme is something more akin to what a slum landlord might try to do with your security deposit when you are not looking and then try to blame you things being broken, which were broken to begin with when you moved in. Not cool in anyone’s book and investing in the security deposits of hard-working tenants isn’t cool either.  

Iungo

While Iungo is very ambitious and surely garnered much attention, there is no roadmap on the site, and the news and company blog is filled more with marketing stories rather than any pertinent information about how the company is doing or what they are doing to achieve their goals. Based on the public financial information, it is safe to say that progress has stalled and the fact that the company does not directly address this issue is another sign that there is a problem. On top of that, the marketing behind the project, Iungo (Is that an “I” or an “L” in the name, oh an “I”? Easy for you to say) This naming convention has caused a lot of confusion and with confusion comes failure. If customers don’t know the name, they won’t buy into the game.

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About the author

Eric Eissler is based in Chicago and works in higher-education administration and finance. He is a freelance writer covering blockchain technology, fintech, cryptocurrency, the oil and gas industry, and international politics.

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XRP Liquidity Index Surges Past 9 Mln, Leaving Previous All-Time High Behind

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  • Yuri Molchan
    📰 News

    The Liquidity Index for XRP paired with MXN reaches another all-time high of 9 mln, taking the XRP adoption in this sector to a new level

The XRP liquidity index on Mexican exchange Bitso exceeds 9 bln
Cover image via 123rf.com
Contents

The Ripple-invested Mexican Bitso exchange is a partner of Ripple and MoneyGram in the Mexican On-Demand Liquidity corridor launched this year. Bitso is the largest Mexican exchange and its participation in the Ripple and MoneyGram’s project has been successful.

The Liquidity Index for XRP in Mexico adds another million

The Liquidity Index for the XRP/MXN pair is growing fast, leaving behind one all-time high after another.

Today, on December 14, this index has taken a new level and got over the 9-mln mark with the daily progress being 92 percent.

The highest liquidity mark achieved previously was slightly under 8,568,000.

Another active ODL corridor leads to the Philippines through the local Coin.Ph exchange and its liquidity index has also risen for the first time recently.

XRP gets mentioned by the US government

As reported by U.Today, the US governmental agency, the Consumer Financial Protection Bureau (CFPB), has for the first time mentioned XRP in its document, describing the asset as a reliable remittance method which makes the process much faster and cheaper for companies that have a limit on conducting money wires each year.

The document called Ripple and XRP a safe harbor. It also called Ripple one of disruptors of the remittance industry, as well as the new SWIFT’s GPI system, a rival of Ripple.

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Large XRP transactions keep pestering the community

Recently, a large XRP transaction was spotted by the Whale Alert Twitter account when a whopping 150 mln XRP was sent from one anonymous account to another.

Many in the XRP community often criticize those who do them, with Ripple getting the largest portion of criticism, when every month it releases 1 bln XRP from its escrow account. The community believes that these dumps keep the coin’s price low.

There may be a grain of truth in this, since the XRP price has been unable to cross the $0.30 threshold for a long time and recently, after dropping below $0.22, it has been floating in the $0,21 area.

Even the much-expected SWELL conference, annually conducted by Ripple, did not push the XRP price to the North, breaking expectations of many investors.

XRP price CMC
Image via CoinMarketCap

 

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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