Coin Name Sponsy
Coin Code SPONS
Summery Description

“First Failed ICO On Ebay For Sale”

This failed ICO made headlines for being the first known failed project to end up on sale on eBay. [1,2]

The sponsor is a failed ICO that attempted to launch in the summer of 2018, according to the Financial Times. The proprietor of the crypto project currently has it listed on eBay for a price of $60,000 and says the firm’s biggest mistake was building a product first. Spongy was intended to be a decentralized sponsorship platform, but the proprietor also openly says that the decentralized aspect isn’t critical. [3]

Ivan Komar, the founder of the Sponsy said:

“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.” [4]

Courtesy of a bounty campaign from [5], the project claims to have a “solid social presence,” with over 10,000 likes on Facebook and 8,000 subscribers on Twitter. However, the Twitter page has only been updated twice a month since the company announced its forthcoming token sale last December, and the posts have around ten likes on average. Sony has a similar presence on Facebook, with posts randomly commented on by several seemingly bot-like users. [6]

[1.] – Archived eBay listing
[5.] – Bounty campaign run by that generated it’s bot-like “solid social presence”

Category Deceased

Is Sponsy a Scam?

Disclaimer: Sponsy Cryptocurrency | Sponsy ICO
Sponsy is a cryptocurrency project that issued Sponsy tokens to its community. Scams in the cryptocurrency space take form in many ways, including exit scams or undedicated project developments.

Is Sponsy a Scam ICO?

Data on whether Sponsy conducted a scam ICO, a scam mining operation, or a scam masternode project is cited above from external sources and CoinCurb does not take responsibility for claims against Sponsy or in support of Sponsy. The data is only an aggregation of claims cited against Sponsy.
The above claims about Sponsy (ICO), Sponsy’s token, or Sponsy’s team are externally sourced. They may claim that:
– Sponsy did an ICO and then exit scammed
– Sponsy has an undedicated project development after the Sponsy ICO
– Sponsy token got pumped and dumped by the Sponsy team
– Sponsy is a dead project with a worthless Sponsy token

However, external claims about Sponsy project, Sponsy token, Sponsy team, or even Sponsy advisors may not be supported by accusers of Sponsy ecosystem and thus individuals seeking to learn more Sponsy team or about the Sponsy cryptocurrency are recommended to directly contact Sponsy team members or Sponsy token investors.
CoinCurb does not itself decide if a project is a scam and thus does not claim Sponsy is an exit scam or that Sponsy is any other type of scam, nor does CoinCurb insinuate that Sponsy (or Sponsy token) team are scammers or that Sponsy (or Sponsy token) advisors are scammers. CoinCurb allows viewers to reference sources related to Sponsy development, Sponsy token trading, and/or Sponsy team as an uncertain reference when deciding if Sponsy is a scam or Sponsy is not a scam.