If the internet truly is for porn, it only makes sense for the latter industry to have its own cryptocurrency. Several such projects have been created in recent years, although none of them gained any major traction. Fantasy Market’s investors will realize by now that the creator of this project has ripped them off completely. More specifically, the CEO has seemingly disappeared with their money, and no one has been refunded to date.
What is the Deal with Fantasy Market?
The concept of Fantasy Market was pretty interesting, to say the least. At its core, the project focused on building a new cryptocurrency designed to support the live streaming of adult content. Given the recent success of cam sites and whatnot, it is evident there’s a big market waiting to be tackled. Creating a native currency for this particular industry is not an easy feat, but with sufficient financial backing, it just might work out in the end.
It is not entirely surprising that the Fantasy Market initial coin offering got a lot of attention from day one. Investors saw the merit in such a currency, especially because everyone knows that porn is still a booming business, even in 2018. It could be the one investment that makes people millionaires in a few years from now. Unfortunately, we will never know if this project would have evolved in such a direction, as the entire project has been canceled by the developer, by the look of things.
According to several project investors, the CEO of Fantasy Market has disappeared all of a sudden. As one would expect, he also took all of the money with him and has no intentions of refunding any of the investors. We have seen quite a few scams in the world of token ICOs, and it is highly doubtful this will be the last one this year. The project was created by Jonathan Lucas, and he successfully raised at least US$2 million late last year.
With its CEO having disappeared all of a sudden, it remains unclear what will happen to the Fantasy Market project moving forward. It was expected that its tokens would be used to pay for viewing live-streaming porn, yet the infrastructure has yet to be built at this point. It seems highly unlikely that will be happening anytime soon unless the CEO decides to come back all of a sudden. More often than not, projects like these are dead in the water with no chance of being saved.
It has to be said that there were some concerns about the Fantasy Market project in the past. In an interview with the New York Post in November of 2017, it became evident that Lucas had no answers to most of the questions being asked. It is not uncommon for people to have ICO whitepapers written by others and fail to provide sufficient answers when asked the hard questions.
At the same time, there may be some circumstantial evidence indicating that Lucas is trading on cryptocurrency exchanges as we speak. It is certainly possible he is trying to liquidate some of the Ethereum raised during the ICO last year. Assuming that is the case, it will only be a matter of time until he is brought to justice for his actions. It is very difficult to trust people who create ICOs these days, as you never know whether or not you are being conned. For now, the Fantasy Market is dead in the water, but things could still turn around eventually.