Ethereum’s mythical 17 000% 2017 price rise is but a distant memory in 2018’s long bear market, and for three-quarters of ICO (initial coin offering) projects initiated in Germany by German companies, a “loss is now closer than such dream returns,” WirtschaftsWoche reports.
A total of eight ICO projects have been undertaken thus far in Germany. The two particularly lucky and / or competent projects are Neufund and Wysker. Neufund has built and offers a portal for issuing compliant security tokens on the Ethereum blockchain. Wysker is “a shopping app.”
But five other projects- including Savedroid and Iconiq- are down between 40-92% since last September, according to WirtschaftsWoche.
The 6th beleaguered German project is Redbux, an “exotic industry” token that reportedly ICO’d in May of this year. But Redbux has been languishing in ICO no-man’s land since, having been unable to find a spot on an exchange.
At a Meet Up last year, an attendee told me he was throwing cash randomly at ICO’s, basically assured that one would hit the jackpot.
But in 2018, a virtual “sure thing” has become a “maybe” thing.
Risk-tolerant newbies are more scarce, questions about the technical pretensions of underlying projects are getting wider play, and what was once touted as a revolutionary way for retail investors to access start ups is lately offering tough ethical and financial lessons for the nouveau VC.
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