Why did the MoxyOne ICO failed ?
If you’ve been following the world of cryptocurrencies, you might be aware of the flurry of ICOs these past few months, arguably the height of the ICO craze happened sometime around Dec 2017 to the tune of 1.6 billion USD raised in that month alone.
This year is interesting since it could be considered as a consolidation year for ICOs, for me personally it is also important since I am currently working on an ICO along with a very traditional company that is experimenting with the concept.
I recently contributed to a promising ( at least to me ) ICO, the MoxyOne project, to my surprise the project failed to reach its modest soft cap of 4,000 ETH ( they raised around 2,600 ), the rest of this post will deal with what I consider to be some contributing factors and the short term future of ICOs.
The project:
In a nutshell, MoxyOne aimed to provide debit cards for cryptocurrencies & tokens you could use as regular debit cards, I think the project was worthy since currently if you want to cash out of your altcoins or Ethereum tokens, you need to first go to an exchange that supports your token, convert them to Ether or Bitcoin and then once more exchange them to native fiat, the whole ecosystem is fractioned and this project aimed to…
