TL;DR: Popular online classified site, eBay, recently posted yet another strange first: a fully ready-to-go initial coin offering (ICO) for sale to the highest bidder. Sponsy is billed as “in the market for more than a year. Audited by an investment firm. Thousands of people expressed interest an signed up to the project. Fully-functional cross-platform application (web app + iOS mobile app).”
Starting eBay Bid $60K: Get Your Ready-Made ICO
It had to happen. And in crypto, if it can happen, it will happen. It happened. Online auction eBay revealed another quirky offering, a turnkey ICO. Sponsy includes “cross-platform web-based Minimum Viable Product, native mobile iOS app, backend, and software solution enabling ICO/STO funds collection,” according to its description.
Starting bid is $60,000 for a landing page, which enables “users to sign up/log in, manage their profiles, upload pictures, create assets. Users can initiate in-app collaborations with each other. Proprietary chat functionality implemented. MVP works on all types of devices and professionally designed. Tech stack: HTML + CSS + JS (frontend), PHP + Laravel + PostgreSQL (backend),” among other staples of a complete ICO.
It also boasts of an iOS app, “software for collecting funds from ICO/STO participants,” and the ability to collect “funds in 100+ crypto currencies. Customizable design. Outstanding security features (2FA). Advanced tokensale functionality (promo codes, bonuses). Multi-Level Marketing functionality. Thorough 50+ pages documentation. Market value of $100k.” Over the years, eBay hosted hilarious and unnerving listings, from a grilled cheese sandwich with the face of Virgin Mary, a ghost in jar, the meaning of life, to even Britney Spears’ chewing gum. Sponsy, however, appears to be serious, or at least earnest.
It’s also claiming to be European Union (EU) compliant. Documents vary from analysis of the project to a business valuation, project traction, pitch and investor decks, and more. Jemima Kelly, snarky columnist for the Financial Times, chatted up Sponsy founder Ivan Komar of Belarus, who apparently designed the project when he was 19 years old. “The core business model would run just as well in the centralised world without any tokens or crypto or blockchain,” he told the FT. “They can easily eliminate the crypto functionality out of this. The core component is a platform — it doesn’t require any crypto or blockchain component to work. Just a typical, centralised server,” Komar explained. With only four days left to make a bid, it appears no one has taken him up on the offer.
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