🕵️‍ ICO Watch Eric Eissler

Past-ICO Review: Odyssey’s Arduous Adventure

👁 ICO Watch
It will be an odyssey to take on the shared economy of things, there are already multiple players inside and outside the cryptosphere
Past-ICO Review: Odyssey’s Arduous Adventure

Odyssey wants to take a stake in the shared economy of things, where ownership of objects is not owned by one but by many. Uber, Lyft, AirBnB, these are just some of the companies that make up the shared economy of things. Odyssey wants to use Blockchain to create better networks of sharing platforms which are more decentralized. Odyssey has a long way to go, with a target date of full systems operational somewhere by October 2019 or 2021 according to the roadmap.

Financials

Odyssey raised $50 mln in a one-day token sale and has had much hype around the token. The token was offered to the public markets a day after the ICO ended and skyrocketed up from $0.02 to almost $1.00 in four days! However, the glory was not had long, after peaking close to one dollar Odyssey fell back to just above its entry price four days later. Now, the current price is next to nothing at $0.003215, at the time of writing. The market cap is at $15.2 mln and there are 4.75 bln tokens in circulation out of 10 bln total.

💼 Related Article
Past-ICO Review: Olympus Labs
🔥 Hot
4 months
256
Past-ICO Review: Olympus Labs

Team  

The team behind Odyssey is obscured and only the two primary advisors Yi Shi and Justin Sun are listed on the site. Yi Shi is the CEO of Shanghai’s Avazu Holding, while Justin Sun is behind Tron coin. Advisors are one thing, but not listing the team is a major red flag. Usually, information about the team is transparent because these companies want people to invest in them and given all the scams that have been associated with ICOs and crypto, people tend to shy away from companies where the team is not visible. However, this did not stop the investors, considering the ICO raised $50 mln.

Strong social media

There are some 40,000 followers on Telegram and more than 100,000 on Twitter, so there is a good base of people who are interested in the company and what it wants to do. Recently, according to a tweet the wallet and payment system is now live.

💼 Related Article
Coins in Crypto Piggy Bank: Past-ICO Review
🔥 Hot
4 months 1 week
256
Coins in Crypto Piggy Bank: Past-ICO Review

Sharing is caring

According to the website, the system functions on ratings and rewards for services provided. Therefore, it will be the service provider and his/her interactions with providing clients service that to a level that is satisfactory will allow this person to carry on their work and be known for doing a good or bad job. Obviously, people who do will be recommended and rewarded, whereas poor performers will not, and eventually (author’s guess) be removed from the system. Competition for this type of service is already high both in and out of the cryptosphere. Odyssey has the cards stacked against them in terms of already existing competition and a long way to launching a product.

💼 Related Article
Everything As a Service Without a Clear Roadmap: Past-ICO Review
🔥 Hot
4 months 2 weeks
256
Everything As a Service Without a Clear Roadmap: Past-ICO Review

🕵️‍ ICO Watch
views
👓 Recommended articles
🕵️‍ ICO Watch Tzao Se

Past ICO Review: Aventus Keeps Bleeding in Silence

👁 ICO Watch
A company that raised 60,000 ETH struggles to keep internal processes in order, misses deadlines, frustrates token holders
Past ICO Review: Aventus Keeps Bleeding in Silence

There are people in the world, who, if I were the law, should’ve been sent to the rice fields to be worked to death, along with used car salesmen, realtors, currency, cryptocurrency and stock traders, carders, and a good deal of crypto-world personages.

Who are they? The touts or scalpers, a despicable lot that make their living buying concert tickets and reselling them later for 10 times the price. Touts are few notches above child abusers or currency traders on my moral scale, but still, they are a plague well worth exterminating- if not physically, then commercially. Disgusting, awful parasites that add nothing to the society.

Celebrities and performers aren’t called “idols” for nothing. The modern world is basically built on idolatry, and there is not less crooks and temple whores around the cult of celebrity than it were around the temples of Babylon.

Inglorious bastards

Another tier of parasitic scum around the perverse cult of celebrities are the scammers. I remember how I almost lost €400 trying to buy a ticket to Adele concert as a surprise gift to my wife for her birthday. All tickets have been sold out officially by that moment, so I resorted to the “secondary market.” I ended up on a very professional-looking website, run by a company from Switzerland (the name starts with V and ends with GO, beware and stay out). I paid the money without thinking twice. And then I googled up the reviews. I was mortified. It turned out that almost anybody (or anybody) who used this services lost their money. I canceled the credit card and had a lengthy conversation with my bank. I’ve managed to prove my point.

Some (not all) event organizers and performers are trying to fight this mafia with varying success, but sites and people that abuse the desire to see a celebrity exist and flourish. Ask any five-star hotel concierge or google up any upcoming big star concert.

Enter Aventus

It all came to my mind when I decided to review the past ICO of Aventus.

Aventus is one of the non-typical, non-star ICOs of 2017. It quietly ended in just seven minutes, scoring north of $17 mln (60,000 ETH at the time), apart from a royal screw-up of compromised Slack account that preceded the ICO, everything went well.

Aventus claims to use Blockchain as a distributed ledger to issue electronic event tickets, not as a base for just another Ponzi scheme. They are working towards creating an open-source protocol for the ticketing industry worldwide. On Aventus platform, a secondary market of event tickets will be regulated by the ticket issuer, which hopefully will drive touts and ticket scammers out of business (or at least make the performer’s team to benefit from the resale).

I’ve decided to check on them- a goal that noble should have all the encouragement it can have.

Communications failure

AVT/USD follows the same downturn trend as most cryptocurrencies do, but the investors don’t seem to react to the recent reshuffles in Aventus team over the last months: the CMO and COO have been appointed, both are said to have a good track record in the industry.

The announcement of the creation of a “new venture” Artos that “will work independently of the Aventus Protocol Foundation to explore commercial applications of the protocol,” haven’t changed the moods either.

In general, Aventus’ communication seems to cause a great deal of frustration among the token holders. In January the team said to have switched from weekly updates to monthlies, but haven’t been able to keep even this tempo: no further development updates are posted in corporate blog apart from a sporadic announce of conference participation.

The head of communications of Aventus has the same surname as the director and co-founder Alan Vey, and the two can be related (some posters in Aventus sub-reddit claim she is his sister). According to her LinkedIn profile, Ms. Robyn Vey has little-to-none professional experience in corporate communications for a project of the scale that Aventus claims to belong to.

The press coverage at the moment, is looking rather pale, too (partly, because there hasn’t been any news worth publishing recently). On March 20, the team posted a link with what is essentially a reposted press-release in Bankless Times, relatively little-known Canadian news outlet on finance, and an obscure publication called ReadITQuick with the same press-release republished. Nothing to be proud of, really, and if I were their PR, I’d be embarrassed to even mention at least the second one to a press clipping, let alone post it on Facebook.

The company haven’t achieved the milestone to issue the minimum viable product beta during 1Q 2018 or failed to communicate that.  

All in all, AVT market cap has been declining from the historical maximum of $41 mln on Jan. 8, 2018 (probably achieved due to the fact that AVT has been nominated to become a community coin of the month on Binance), to mere $5.8 mln as of today, April 3, 2018, with almost non-interrupted bleed over last two months.

It is true that almost no project in human history has been delivered BOTH in time and within the budget. Aventus promises a long-awaited change in ticketing technology, but as any startup, it has a long struggle to secure its first client (and actually deliver a viable product) ahead of it. The outcome of the struggle isn’t defined by inspiration, talent, vision, idea, or team spirit, but rather by internal organization and structure.

It is unclear whether they have it.

💼 Related Article
Past ICO Review: Why You Can’t Take Polybius To the Bank
🔥 Hot
8 months 2 weeks
256
Past ICO Review: Why You Can’t Take Polybius To the Bank

Stay tuned and remember: CryptoComes is watching you.

🕵️‍ ICO Watch
views
👓 Recommended articles
Wikicoin Eric Eissler

Top 10 ICOs by Funds Raised, From Filecoin to TRON

📚 Wikicoin
The top 10 ICOs by funds raised have a combined total of $1.4 bln
Top 10 ICOs by Funds Raised, From Filecoin to TRON

The past year has had much excitement in the crypto market with ICOs becoming a mainstream event and seeing a lot of headlines in the news. The following is a review of the top 10 ICO by the amount of funds raised.

Top 10 ICOs by Funds Raised, From Filecoin to TRON

1. FileCoin $257 Mln

The true king of the crypto ICOs, FileCoin raised the most. FileCoin is offering a decentralized storage service with ultra-competitive rates for users. Other users can rent out their storage space for payment in filecoin. The token is trading at $11.21 down from a high of $27 in December 2017. Currently, they are accepting early miners in the pilot program. It is too hard to tell if/when FileCoin’s decentralized storage system will get off the ground.

2. Tezos $232 Mln

Tezos erupted onto the market with its astounding $232 mln ICO, but quickly lost control of most of its funds due to infighting and now trying to stave off pending legal cases. These legal cases are based on infighting between partners, which has caused the company to halt work. In more recent developments, some of the partners have gone rogue and pushed ahead with development. Despite the deluge of bad news, that would usually decimate a company’s stock price, Tezos token has appreciated, causing some to believe that it will actually be worth something in the end.

💼 Related Article
Past ICO Review: Tezos, Crypto King for a Day
🔥 Hot
8 months
256
Past ICO Review: Tezos, Crypto King for a Day

3. Paragon $183 Mln

Despite raising more than $100 mln during the ICO, the token price tanked a day after the launch starting at $1.68 per token and falling to $0.48 only three days later. On Dec. 21, 2017, there seemed to be something of a pump and dump when the token price surged to an all-time high of $4.11 and then crashed back down $0.52. Paragon is currently trading at $0.28 at time of writing. It suffers from the debilitating effects the Marijuana grey zone that is found in the US: some states approve it, but the federal government says its illegal. This is a big no go for financial institutions that are obedient to the feds.

💼 Related Article
Past ICO Review: Paragon the Dope Dope
🔥 Hot
7 months 2 weeks
256
Past ICO Review: Paragon the Dope Dope

4. Finney $158 Mln

Sirin labs have used Finney as an ICO to raise some massive funding to run a project on Blockchain-powered devices such as smartphones and computers, citing that traditional operating systems are vulnerable to hacking and leave users exposed to risk. Finney is the name of the smartphone that is currently in development, and in April 2018, it was announced that electronics manufacturer Foxconn will work with Sirin to produce the phone. Furthermore, Sirin Labs plans to deliver a “decentralized app store run by the community” where “cost-bearing apps are based on a secure P2P resource-sharing system, which distributes fees between users and developers.” However, which community are they talking about? This leaves a lot of questions to be answered.

5. Bancor $153 Mln

The Bancor Protocol is a technical revolution allowing tokens to be converted without matching two parties with different wants. The magic is in the math, with a simple formula balancing buys and sells so that every token in the network maintains a formulaic relationship to others. The result is continuous liquidity regardless of trade volume or exchange listings. When Bancor token debuted on July 17, 2017, it entered the market at $4.49 per token. By November 2017, it has crashed down to $2 per token losing 50 percent of its value in four to five months.

💼 Related Article
Past ICO Review: What Remains From Bancor’s Initial Boom
🔥 Hot
8 months
256
Past ICO Review: What Remains From Bancor’s Initial Boom

6. Status $102 Mln

Being Ethereum’s browsing tool for searching and making payments, on the side of representing a messaging application, Status has raised a substantial amount of funding despite not being too well known outside of the smaller circles. Status trades at $0.11 up from the entrance price of $0.06 from late June 2017.

7. Kin $98 Mln

The Kin Ecosystem Foundation aims to bring all digital communications under one umbrella, such as chat apps and social networks. The ERC20 token will be used for all transactions in the Kin Ecosystem. It has attracted the attention of many investors, as it raised a substantial amount in its ICO. However, in March it was announced that Stellar would be taking over as the payment system: “Kin transactions will now take place side-by-side on Stellar and Ethereum, unlocking faster transactions for digital services, while continuing to provide liquidity to Kin holders,” according to a press release on PR Newswire. This raises doubts about whether the currency can function as no Dapps of Kin have been launched.

💼 Related Article
CryptoComes Women in Blockchain: Crystal Rose on Blockchain Island, Governance and Open Data
🔥 Hot
8 months 1 week
256
CryptoComes Women in Blockchain: Crystal Rose on Blockchain Island, Governance and Open Data

8. Elastos $94 Mln

Elastos’ technology attempts to create a new kind of Internet, powered by Blockchain technology. On this new Internet, people will be able to own digital assets and generate wealth from them. The goal is to create an Internet that allows users to access articles, movies and games directly, without going through a media player or another platform intermediary. Elastos will use Blockchain technology to issue IDs for digital content, making it possible to know who owns which digital assets. It recently had its ICO in February 2018, since then the token price has returned close to its introductory price of $44.

💼 Related Article
Past ICO Review: How $1 Worth Company Manages $50 Mln ICO
🔥 Hot
7 months 4 weeks
256
Past ICO Review: How $1 Worth Company Manages $50 Mln ICO

9. TenX  $80 Mln

TenX is making crypto more of a tangible payment system by creating actual debit cards that are linked to a TenX wallet. The company has a forthcoming banking license in the works and intends on taking its everyday payment system mainstream. With technology like this, it is surprising that the company did not raise more in its ICO. The TenX token has been on a steady decline since its release with an all-time high of $5.26 during the 2017 December rally down to $1.25 as of mid-May 2018. The token price might not go to the moon, but the debit card might end up in a few wallets.

Top 10 ICOs by Funds Raised, From Filecoin to TRON

10. Tron  $70 Mln

Tron made a big splash onto headlines in December 2017, as its technology is set on decentralizing the entertainment industry. The idea was to enable compensation for content creators, such as singer/songwriters, artists, bands, performers, and anyone who is an entertainer. Hitting an all-time high in December at $0.25, it has crashed to only $0.07 and remained there, as there has been lots of controversy on whether this is a scam or a legitimate token.

💼 Related Article
Past ICO Review: Why You Can’t Take Polybius To the Bank
🔥 Hot
8 months 2 weeks
256
Past ICO Review: Why You Can’t Take Polybius To the Bank

Wikicoin
views
👓 Recommended articles
🕵️‍ ICO Watch Eric Eissler

IoT Supply Chain Network Still Needs Final Test: Past-ICO Review

👁 ICO Watch
Partnered with the UN, this company has global potential
IoT Supply Chain Network Still Needs Final Test: Past-ICO Review

Ambrosus (AMB) is building a decentralized, Blockchain-powered IoT-based logistical supply chain network that will enable secure and frictionless dialogue between sensors, distributed ledgers and databases to optimize supply chain visibility and quality assurance. The network will serve industries such as agricultural, medical, commodities, and high-value products. Ambrosus is a utility token.

By the numbers

Ambrosus had a one-month long ICO from Sept. 22 to Oct 22, 2017 and raised $32.5 mln, only 33 percent of it’s $97.8 mln goal.

It has a market cap of $44.6 mln. The token entered the market on Oct. 23, 2017 at $0.19 and at the time of writing is trading for $0.31. The token hit an all-time high of $1.72 in mid-January 2018.

Ambrosus is a utility token, not an equity token. It is important to note that utility tokens provide users with future access to a product or service. Utility token ICOs, allow startups to raise funding for the development of their Blockchain projects.

💼 Related Article
Top 10 ICO Market Successes: Past ICO Review
🔥 Hot
6 months
256
Top 10 ICO Market Successes: Past ICO Review

Ambrosus utility token, what is to good for?

CryptoComes was able to speak with CEO Angel Versetti via email about the latest developments and how Ambrosus is developing thus far. Concerning the use of the token, Versetti said the following: “The token serves as a unit of payment for computational power and storage required to process, record and subsequently recall data [on the Blockchain]. It furthermore serves as a unit of payment to access additional features in Dapps built on top of AMB-NET. Finally, it serves as incentive mechanism for masternodes, who use AMB to stake and participate in the network as well as having rewards paid out.”

Sensing the sensors

With logistics and IoT, many sensors need to be involved with the process. At this point in time Ambrosus is not producing its own sensors but according to Versetti, the company is  creating “designs of sensors and generating intellectual property on such features as hardware security, secure processing, network encryption, gateways, etc. (patenting it whenever there is an opportunity) and later on Ambrosus can license the production of sensors to third-party manufacturers.”

In other words, rather than making proprietary sensors that consumers must purchase to use the system, the AMB-NET has been made as flexible as possible to work with many sensors on the market. As with many Blockchain and crypto-based companies, they usually do not have a totally functional product or it is still in conceptual or developmental stages. That being said, we went straight for the kill and asked when AMB-NET would be launching.

💼 Related Article
Past-ICO Review: Kin the One You Didn’t See Coming
🔥 Hot
6 months 3 weeks
256
Past-ICO Review: Kin the One You Didn’t See Coming

AMB-NET online soon

When asked about the date the network would go live, Versetti said, “AMB-NET is actually going live this summer (right now the test-nets are available for experimentation and devs). We will have a more robust, industrial grade network, AMB-NET 2.0, in December this year.”

The Team

While there are many members of the team, here are a few of the top members.

CEO - Angel Versetti

Started his own crypto investment company, in Zug, Switzerland, also known as crypto valley. He previously worked at the UN, which is also a partner of Ambrosus.

Solutions Architect- Prof. Roger Wattenhofer is a professor of computer science at ETH (technical university) Switzerland. He is also a strong proponent of Blockchain and crypto.

CTO and Co-founder- Stefan Meyer has over 20 years of research and development experience in quality assurance, ultrasound sensors and data encryption methods. Previously, Stefan led projects at Nestlé and MHM Microtechnique. He was the Managing Director of the Integrative Food and Nutrition Center at the Swiss Federal Institute of Technology (EPFL).

CPO- Dr. Vlad Trifa has spent the past ten years building industrial-grade IoT platforms and solutions used by Fortune 500 companies in numerous industries (consumer goods, luxury, logistics, retail or entertainment).

💼 Related Article
ICOs Performance in 2017 and Outlook For 2018: Review
🔥 Hot
7 months
256
ICOs Performance in 2017 and Outlook For 2018: Review

Consensus

While the Blockchain and crypto business environment is volatile and eats up many companies, Ambrosus seems to have stood the test. It has a strong team at the helm, it has the UN as a partner, which could facilitate the adoption of Blockchain from a higher level, and its network is about to go live this quarter, which will be the biggest litmus test for the company. After the network goes live, how will it be received? How many users will come on board? These are some questions that still remain.

💼 Related Article
Airtoken Loans out of Thin Air: Past-ICO Review
🔥 Hot
6 months 1 week
256
Airtoken Loans out of Thin Air: Past-ICO Review

 

🕵️‍ ICO Watch
views
👓 Recommended articles
🕵️‍ ICO Watch Eric Eissler

Crypto Debit Cards Are Here. Well, Almost: Past-ICO Review

👁 ICO Watch
What are the strings attached to crypto debit cards?
Crypto Debit Cards Are Here. Well, Almost: Past-ICO Review

Coming out of crypto valley in Zug, Switzerland, the company Monaco, which has no relations to the principality of Monaco, has come out with an app and a debit card to make it easier to spend crypto without selling and get credit to make purchases to pay off later, or if you can’t pay it off your collateral Bitcoin on Monaco coin is used instead.

Furthermore, according to the website, there are no additional fees to send crypto to other wallets. According to their statements, Monaco is attempting to disrupt the way debit and credit cards are used. Let’s take a deeper dive and see if they are following through.

The Swiss bank account

Monaco and Switzerland, countries with names that ring with money. And Monaco rang in the money with its ICO, to the tune of $54 mln in fundraising, in a month-long ICO that took place between May 18 and June 18, 2017.

Its token, know as MCO, ERC20 token, entered the market at $2.24 per token and has seen several ups and downs since then, ending on a down note at $4.80 which is still more than double the entry price.

The all-time high was reached on Aug. 29, at $24.78. CoinMarketCap ranks it at 111 and it has a market cap of $75.3 mln with 15.7 mln, with only half of its 31.5 mln total tokens in circulation.

💼 Related Article
Post-ICO Review: Trade.io an Exchange With a Change
🔥 Hot
5 months 4 weeks
256
Post-ICO Review: Trade.io an Exchange With a Change

On the road to success, albeit a bumpy ride

Monaco has officially partnered with Visa to launch its card which can be used for everyday purchases. This explains the massive spike in the price back in August 2017.

Despite this, the Visa cards still have not been issued yet.

According to their recent blog post on June 19, the cards are going into a second round of testing and the first round found some errors that need to be corrected. There are two apps on the market, one for Apple and Android users. They also claim that Monaco has some 53,000 approved and registered users on the platform. Anxiously awaiting their visa cards, we can safely assume. To quote the post, “We should have the results back from 2nd round next week. No major issues expected now that the 1st round issues were corrected- relating to the configuration of the various systems.”

Monaco was unavailable to comment on the further development of the Visa cards; my email was returned.

Leading the way

The team behind the coin appears to be well known in the crypto circles among others, Kris Marszalek is the CEO behind the operation. He is well known in Southeast Asia as a serial entrepreneur. Since 2004, Marszalek has been a co-founder at five companies which he leads from start-ups to either be a successful company or to be acquired. He has a proven track record of building success.

CFO, Rafael Melo has been working in the mobile payments system industry for 15 years in southeast Asia and has a strong grasp of risk and compliance. He was the business finance officer for Mobile Payments Solutions, which was a MasterCard incubated technology company.

Bobby Bao is the managing director and is known in Southeast Asia for his work in investment banking, corporate development, and investor relations. His career spans the banking world in southeast Asia as well as North America.

💼 Related Article
Are You Ready Owning Property in VR World? : Past-ICO Review
🔥 Hot
6 months 1 week
256
Are You Ready Owning Property in VR World? : Past-ICO Review

In good standing

Monaco has been successfully fulfilling its milestones as it is getting closer to launching fully with the Visa cards. According to the website, there are only six more milestones left to complete before the company is fully operational:

  • Visa cards ship in Asia

  • New Visa cards announcement

  • Visa cards shipping in Europe

  • Monaco Invest goes live

  • Visa cards ship in the US

  • Monaco credit goes live

It appears that they surpassed or on equal footing with their main competitor TenX, which is also linking crypto accounts to debit cards.

However, the business plan is well thought out. Once the cards are launched and are in use, Monaco stands to rake in the fees paid to them by the retailer.

On top of that, exchanges such as Coinbase, which offer a very limited selection of coins could then lose a lot of business to companies such as Monaco or TenX because they can easily move between crypto and fiat. Furthermore, if the company is going to be offering credit that can be leveraged with crypto and debts that can be paid with crypto or fiat, then there could possibly be a paradigm shift for the credit industry. We only need to wait and see.

💼 Related Article
Past ICO Review: TenX Puts Crypto on Debit Card, Hodlers Beware
🔥 Hot
6 months 3 weeks
256
Past ICO Review: TenX Puts Crypto on Debit Card, Hodlers Beware

🕵️‍ ICO Watch
views
👓 Recommended articles
🕵️‍ ICO Watch Eric Eissler

Plain Payment System Slightly Dressed Up: Past ICO Review

👁 ICO Watch
In review: payment processor with a rating system for users, nothing new here
Plain Payment System Slightly Dressed Up: Past ICO Review

Trust. It is the glue that binds the world together. Without it, we would not be where we are today. However, trust in trade between a buyer and a seller has been a challenge stemming from ancient times: is the product going to work? Will the buyer pay in full? Is this a scam? These are some of the questions that are always running through the minds of buyers and sellers.

Monetha is a refreshingly new take on an age-old problem in a desert full of generic payment solutions all vying for your business. That’s what they want you to think, but after close inspection, there is nothing revolutionary here.

Pay to play, play to pay, don’t get played

Monetha raised $35 mln in a one-day token sale on Aug. 31, 2017. It’s sale token price was $0.16. The token entered the market 50 percent higher than the ICO price at $0.30 per token, hitting an all-time high of $0.55 in January 2017 before crashing down to $0.04 at the time of writing.

Despite raising more than $30 mln, the company’s market cap is only $8.8 mln, rather curious for a company that is going to revolutionize the payments sector.

On a further note, if you do the math, only 50 percent of the tokens issued in the ICO went to investors. Only half the tokens are in circulation, meaning that half are in the hands of the company.  In this model, investors are really only getting 16.5 percent of the revenue.

Invitation pending

Monetha has a functioning product, an app for iPhone and Android that allows the user to create a profile for buying and selling and gets rated on the deals done.

The rating helps other buyers and sellers know if the individual is reputable or not, but don’t most sites have this anyway?

The platform works with e-commerce sites.

However, the caveat here is that in order to make the transaction through Monetha, both users have to have accounts on the platform. If the buyer or seller wants to buy or sell something form/to someone who does not have the app, then they need to invite them to join to transact.

Something that is easier said than done. Imagine, you are are selling some items and you are asked by the buyer to set up an account to sell them. Most times, you are going to ignore that invitation, because:

1) You might not know what it is.

2) Being solicited by a stranger on the Internet to join something is the first sign of something being sketchy.

3) You might not have the time to be bothered to set up an account just to sell some old mirror from your house.

Fees, contracts, here come the problems

Monetha charges 1.5 percent fee on all transactions, of which one percent goes to the company and .50 percent to cover the “Voucher Smart Contract” which maintains the ecosystem.

They accept payments in many ERC20 tokens and reward users with Monetha for using the platform, but with prices as low as they are now, they better be giving away a lot, or it’s just going to seem like a worthless points system, where the points are worth fractions of a cent- not impressive.

We reached out for comments about how the rewards system works but did not get a response.

Not so special after all

Don’t judge a book by its cover, and that is true about websites and promotional materials. Always do your homework, and what looks too good to be true, usually is!

Monetha makes some pretty cool claims about what they can do, but when you get down to it, it’s really nothing that special that you can’t do with PayPal and eBay.

💼 Related Article
Top 10 ICO Failures of 2017
🔥 Hot
6 months 2 weeks
256
Top 10 ICO Failures of 2017

🕵️‍ ICO Watch
views
👓 Recommended articles