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.
BlockDAG Leads with Moon Keynote Strategy as Presale Hits $20.6 Million Amid Cardano Downturn &…
2024's Premier Crypto Presale: BlockDAG’s 30,000x ROI Takes the Lead Over SLOTH, SPONGEV2, SMOG, and…
The BEFE coin is now living the dream that any creator in the cryptocurrency space…
Bitgert coin has endured a superb position of growth owing to the increase in demand…
The Synthetic protocol, represented by its native token $SNX, has experienced a notable decline of…
The cryptocurrency $ONDO has experienced a 2.5% decline in its price today, adding to a…