The 3 Most Ridiculous ICOs EVER!

Analysis, Opinion

There seems to have been an ICO for everything imaginable, and at least a few were totally off the wall. This is a review of some of the most bizarre ICOs.

TombCare (CARE)

When I first looked at this ICO, I was a little disturbed by the idea that death was going to be added to a blockchain. Death is not a subject that many of us discuss, and it seemed to be taking blockchain too far – beyond the grave you might say.

In fact, the project is not as spooky as it first appeared. As more and more people relocate around the world to work or retire, they may be thousands of miles from the graves of their loved ones. TombCare has built a smartphone app to record the GPS coordinates of cemeteries around the world. Customers will be able to use the CARE token for someone to tend to a grave in their absence and lay flowers on Memorial Day. The “performer” that records GPS coordinates and tends to the grave will earn CARE tokens for their effort.

Andrei Simonov and his team set a fairly modest target of $1 million for the ICO, which was completed successfully towards the end of 2017. Their tokens are available on the BTC-Alpha and EtherDelta exchanges.

Billionaire (XBL)

Not so long ago, the term millionaire was a true sign of wealth but, in crypto, that’s now reserved for billionaires. You can see why the token name was chosen and their unique selling point is that token holders are encouraged to burn their tokens in a weekly raffle.  Might seem an odd thing to do, but scarcity does add value to most assets, so why not Billionaire tokens? Tokens are currently listed on Cryptopia, EtherDelta, and CoinExchange.

Useless Ethereum Token (UET)

Another crazy crowdsale worth a mention is the Useless Ethereum Token. As the name suggests, the token is utterly useless.  At the time, investors were blindly taking a punt on every ICO they could find. In fairness, the website does quite clearly state “Seriously, don’t buy these tokens.”

There was no whitepaper and no panel of experts that you usually see with ICOs. The person behind it simply declared themselves as some random person on the internet. People did buy this useless token – it raised over 310 ETH, worth $300,000 at the time.

A nice touch on the website is that it continually updates the value of the ETH received in dollars, currently $189,868, and the number of televisions the creator can now buy from the proceeds of the crowdsale.

Like them or not, there are some really crazy ICOs. Let us know about the craziest ICOs you have ever seen on our very lively Telegram community chat.

Financial analyst, smartphone app designer, technical writer, and crypto enthusiast. Blockchain verified graduate of MOOC 9, DFIN-511: Introduction to Digital Currencies, run by the University of Nicosia.

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