A 21-year old Belarusian man is now turning to eBay in hopes of finding a potential buyer for his blockchain project, Sponsy. This comes after
Finishing product development led Sponsy to miss the ICO craze
Although he appears satisfied with the finished product, Komar expressed regret over how the development of
Komar went on to detail these thoughts:
“We would not have tried to build a product first, we would have tried to run a token sale as soon as possible, to jump into this crypto craze bandwagon, and raise as much money as possible before building any product. And that’s exactly what others were doing.”
As such, Komar is disappointed with that
Sponsy is currently listed for $60,000 on eBay
Subsequently, Komar decided to post Sponsy to eBay. This unconventional sales channel for a blockchain project is sure to drive some interest, and the eBay listing already sports 48 “watchers” – although no one has made a bid on it yet. Moreover, the project’s starting price is set at $60,000.
Furthermore, Komar believes that the most serious mistake made in the development of
“We hired a lawyer and that was a big mistake for us. Because our lawyer basically told us that we should not launch any ICO before we built a real product that might have some users. And I asked him why, because I saw so many ICOs out there who did not have any idea for any product, yet they managed to raise tens of millions of dollars.”
Moreover, the auction is said to include all the necessary paperwork needed to conduct a second, hopefully more successful ICO. Although Komar appears disillusioned by the whole ordeal, some other company could potentially purchase the project and relaunch the ICO in the future.
Image Source: “Flickr”
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the cryptocurrency industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.