Timing, so they say, is everything. Certainly if you want to cash in on an investment bubble it is. And once the bubble bursts? You’re already too late. So you might as well try to sell that ICO project you were hoping would make millions, on eBay… for $60,000.
Arriving At The Party Empty-handed
During the ICO boom of 2017, it seemingly didn’t matter if you launched without a product. Or at least, it didn’t matter in terms of the money you could raise. But decentralised ‘Tinder for Sponsorships’ platform, Sponsy, hired a lawyer who suggested otherwise. The problem for Sponsy, and founder Ivan Komar, was that by the time they had a product, the boom had bust.
Now Komar has listed the Sponsy project for sale on eBay, for a knock-down starting price of just $60,000. Or you can make him a ‘best offer’, as with 3 days to run, there are still no bids.
He spoke to FT about where it all went wrong. Namely, that he should have raised the money before worrying about a product. Although he accepted that the lawyer’s…