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.
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.
How Solana Transformed an Entrepreneur’s Life & Why BlockDAG Could Be the Next Millionaire Maker…
The SOL price has surged to well over $200 as its market capitalization exceeded $100…
BNB is already flashing signs of a bearish sentiment despite launching a new stablecoin while…
The crypto market is no stranger to unexpected twists. However, the recent performances of Rollblock,…
Meme coins are back with a bang and are as insanely volatile as ever! Bonk…
Staking has become one of the most effortless ways to generate passive income in the…