Startup “Sponsy” that never launched its ICO is now selling on eBbay for $60,000, according to an offer on the website that expires Friday, March 29.
According the offer description, the startup is fully prepared to launch both ICO and security token offerings (STO). The advertisement states “Sponsy” was audited by an investment firm, approved by investment bankers and complies with European Union and United States regulations.
Moreover, the seller claims the startup has a “strong social presence,” with more than 10,000 likes on Facebook and 8,000 followers on Twitter. However, the Twitter page has only been updated twice a month since the company announced its forthcoming token sale last December. Sponsy has a similar presence on Facebook, with posts randomly commented on by several seemingly bot-like users.
The overwhelming popularity of ICOs in 2017 and early 2018 was described by the crypto industry as “hype,” but nowadays many experts believe the ICO boom is now over. During Q3 2018 ICO funding overall has fallen by 48 percent.