Owner of ICO That Never Happened Attempts to Sell Project on eBay for $60,000

The owner of a startup that never launched its initial coin offering is trying to sell the project on eBbay for $60,000, according to an offer on the e-commerce website that expires Friday, March 29.

The startup, named "Sponsy," is described as a blockchain project that is fully prepared to launch both ICO and security token offerings.

The author of the offer claims that the project was audited by an investment firm and approved by investment bankers.

The project claims to have a "Solid social presence," with over 10,000 likes on Facebook and 8,000 subscribers on Twitter.

Sponsy also mentions that it is listed by famous ICO trackers such as ICOBench.

The latter ranks it 2.9, with no experts evaluating the project.

The Financial Times has reached Ivan Komar, the founder of Sponsy, to find out why the ICO has not yet been launched.

Komar explained that the company missed the ICO hype of 2017, and no one became interested in its tokens later in 2019.

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 - from July to September 2018 - ICO funding overall has fallen by 48 percent.