Failed Crypto Project Sponsy Up for Sale on E-commerce Platform eBay

Cryptocurrency project Sponsy which was developed to help the sponsors to interact with their clients in a decentralized way and which was supposed to be launched in 2018 summer has now shifted its way to eBay which is a multinational leading e-commerce firm and an online selling site. The 21 years old Eastern European based ICO founder along with the developers are now trying to sell the failed crypto project on eBay for $60,000. The bidding for the failed crypto project starts at $60,000.

On the eBay website, the advertisement of Sponsy states that a blockchain project that is completely ready to introduce ICOs and STOs and also build to create a distributed software solution for events and help sponsors to manage sponsorship deals in a convenient and secure way.

The advertisement also mentions that the Sponsy project is entirely verified by an investment company and has been approved by the investment bankers. The solution build by Sponsy is in accordance with the European Union and United States Regulations.

The founder of the Sponsy project Ivan Komar mentioned the reason why the project failed and said that the failure was because the company recruited a lawyer and he advised us not to launch an ICO unless a real product is developed and should have users. Ivan Komar later asked him why and even said that he had seen many ICOs which have been built without any plan for any product. Yet, they were able to make tens of millions of dollars.

What if Sponsy could have been given a second chance and what unique they could do?

Ivan Komar said that first of all they would not have developed the real product rather they would have experimented with running a token sale as soon as possible to get involved into this crypto movement and raise as much money as possible before developing a product. This is what most of its peers were doing.

The founders of the project are aiming to raise millions of dollars through the sale. However, the failed project does not have a defined project or a roadmap.

Reports mention that the founders of the project have already given up on the project and are calling it quits and so they have advertised it on the eBay site. They had planned to raise millions of dollars through initial coin offering back in 2017.

In a statement with the Financial Times, Ivan Komar as a member of the developing team said it was common to gain million in funding for the blockchain project that had no working product because of crypto mania. The crypto industry had noticed that the virtual asset prices were reaching at high levels at the end of 2017.

Meanwhile, the lawyer of Ivan Komar recommends that he should look out for more funds for the failed Sponsy project through ICO until they had developed a real product by their own or either created a compelling proof-of-concept.

Ivan Komar highlights about his view that the project will be sold successfully, because of the fact that the crypto section can be comfortably removed from the project.

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