5 ICOs that will surprise you
Want to earn money for brushing your teeth, absolve your sins or buy marijuana? There’s a cryptocurrency for that. Here are five examples of projects that have used or proposed initial coin offerings to raise money.
DOPECOIN
Market cap: US$2.6 million.
Who’s behind it: “Adam, formerly known as Dopey,” according to the DopeCoin website: “A coffee drinker, a world traveller and a creator of cool things.”
What it is: One of many cryptocurrencies designed to help people discreetly purchase marijuana.
TRUMPCOIN
Market cap: US$257,000 Who’s behind it: Chris Cowie, a Scottish music producer. What it is: Calling itself “the world’s first cryptopac,” TrumpCoin promised to set aside and donate a portion of the cryptocurrency to now-U.S. President Donald Trump’s campaign once it grew in value. Like Trump’s popularity, however, the value of TrumpCoin has plummeted since peaking at US$3.4 million in January.
LYDIANCOIN
Market cap: Not yet launched.
Who’s behind it: Gurbasksh Chahal, an entrepreneur who pleaded guilty to assaulting his ex-girlfriend in 2014 and now potentially faces jail time for violating probation. At least four former employees are also suing him for harassment and discrimination. Chahal has denied the allegations.
What it is: Can be used to purchase services from Gravity4, a cloud-marketing firm. The same services can also be purchased with regular currency.
DENTACOIN
Market cap: US$33 million. Who’s behind it: Business developer Philipp Grenzebach, his brother, programmer Jeremias Grenzebach, and Dimitar Dimitrakiev, a “highly respected university lecturer.”
What it is: Billed as “the blockchain solution for the global dental industry,” it also rewards users for good dental hygiene. The company also plans to offer insurance in the event of a dentist’s insolvency or death and provide a blockchain-based health-care data service. TETZELCOIN Market capitalization: Not yet launched.
Who’s behind it: Will Doenlen, an artist who “explores the existential absurdity of human systems.”
What it is: A sort of blockchain-based confessional booth, users confess their sins and pay penance in ether, another popular cryptocurrency, in exchange for SIN tokens that represent forgiveness.