It is not uncommon for cryptocurrency projects to run out of funding. When that happens to an ICO raising over $10 million a few years ago, eyebrows will be raised.
In the case of DeepBrainChain, it appears that the end is nigh.
DeepBrainChain is Going Under
During a recent social media discussion, the CEO of the project indicated that there are funding concerns.
This is primarily due to inappropriate time and resource allocations.
With prices falling lower throughout 2018 and most of 2019, it is evident that the funds raised during the ICO has lost value as well.
Those $12 million are worth closing to $3 million at today’s value, if not less.
One also has to keep in mind that money has been used to fund the product and payrolls for over two years.
Where the new money will have to come from, remains somewhat unclear.
Another DeepBrainChain token sale is completely out of the question.
Even selling a part of the native token’s supply is not an option.
The DBC tokens are worth roughly 1% of their ICO price, and there isn’t any real demand for them.
This is another example of why most of the ICOs will continue to fall in quick succession.
Raising money is one thing, but properly managing it and delivering the goods is something else entirely.