Paragon, the outfit which raised over $70 million in an ICO to construct a “social community of hashish startups,” has misplaced 96 p.c of its market cap.
Doing Nothing With Blockchain
Maybe the newest instance of the “irrational exuberance” of the 2017 ICO rush, Paragon (PRG) zerozero, which had the backing of US rapper The Sport and an notorious video to match, presently has a token market cap of simply $2.7 million.
The challenge was the brainchild of Jessica Versteeg, aiming to make use of Blockchain to grapple with the patchwork legality of hashish within the US and even change governmental approaches to the business.
Now, one yr on from the ICO, social media customers are drawing consideration to the seeming lack of exercise on the a part of Paragon’s builders.
Re-uploading the publicity video that includes The Sport and Versteeg, Cinnober cryptocurrency lead Eric Wall highlighted the lack of market cap and urged their earlier partnership with IOTA was one thing the latter thought of higher forgotten.
“The partnership IOTA doesn’t speak a lot about anymore,” he summarized on Twitter September 19.
The partnership IOTA doesn't speak a lot about anymore.
Don't neglect who helped them pump this. This was in Aug 24, main as much as the ICO.https://t.co/sRPErlsA2G https://t.co/yAsLeqpUsm#IOTAstrong proper?@DavidSonstebo time for an additional AMA with you and @JessVerSteeg? pic.twitter.com/G9ZKBJVw6Z
— Eric Wall (@ercwl) September 19, 2018
Lawsuits Not Love
Versteeg had gained notoriety for her arguably unintentional soundbite from the weird video with The Sport.
“Me and my woman Jess, we’re revolutionizing hashish, marijuana, the world…,” the rapper had begun, to which Versteeg replied: “And what we’re doing it with? Blockchain.”