According to CoinMarketCap, there are more than 23 thousand cryptocurrency projects today. Among them, there are completely new, long-acting, but little-known, as well as frankly abandoned and almost no signs of life. The number of clearly fraudulent projects that no one dares to contact, as well as extinct and excluded from the rating, cannot be counted.
The cost of developing, launching, and promoting a cryptocurrency is on average 50-200 thousand dollars. The goals of the creators of financial pyramids disguised as crypto projects are generally understandable. But what considerations guide people who are willing to spend money and time to launch very strange projects? Some of them cause bewilderment and even doubts about the adequacy of the creators.
Dogecoin, dogs, and catsSource: pymnts.com
Actually, the first was Jackson Palmer, who, during the first cryptocurrency boom in 2013, “crossed” LTC with the popular Doge meme. According to Palmer himself, neither enrichment nor the actual launch of the coin was part of his plans. It was a satire that was supposed to show the absurdity of investing big money in an unknown and unstable instrument with illusory prospects.
On the page of the non-existent “crypto project”, a hype began, and the number of people wishing to buy a new coin grew quite quickly. At this stage, software engineer Billy Markus joined Palmer. Together, they launched a dummy project, which, like a true samurai, had no goal, only a path.
Surprisingly, the path of the coin was very successful. She even briefly visited the flagship of the market, pushing Bitcoin to second place. It was so long ago and so short that it seems like a tale. But the fact that a direct swap DOGE to BTC is possible on many top exchanges and the mem-coin is still in the TOP-10 largest cryptocurrencies is an undoubted fact. As well as the fact that in the TOP 20, there is another parody “dog” coin SHIBA Inu, created as a “killer Dogecoin”.
Naturally, cat lovers did not sit idly by either. However, not a single catkoin could become so popular.
Coins with very evil humor
Useless Ethereum Token
Useless Ethereum Token was initially and extremely honestly positioned as mocking. The developers called the project “The first ever 100% truthful token offering.” The startup website stated something like this: “You trust your money to unknown dudes and get worthless tokens”
Nevertheless, investors were found. As part of the ICO, the token raised more than 300 thousand dollars. then, quite expectedly, it depreciated and ceased to exist. However, the site of the Useless Token continues to function and is a kind of monument to either human naivety or a tendency to take unjustified risks.
Even more, mocking was David Segal’s experimental project, which cost him about $300. Actually, he set a goal to demonstrate the unreliability of rash investments.
The journalist created the website Coinformidiots.com and paid the blogger to advertise Idiot Coin on TikTok, Reddit, and Telegram. The advertisement was satirical – the developer stated that the coin “definitely will not fly to the moon” and persistently dissuaded potential investors from buying. However, the coin channel on Telegram has attracted more than 300 subscribers. Many of them were seriously interested in the possibility of acquiring Idiot Coin, despite the warnings of the channel administrator.
Quite convincingly, another attempt to ridicule the blind adherence of cryptocurrency adherents proved to be quite convincing in the market. The creator of the coin, Adam McKinney, stated that the purpose of the project was not to make money but rather to pay tribute to Lord Cthulhu.
The project had no practical value, and the coin could only be used to make money on pumps. In January 2018, Cthulhu Offerings was especially popular, with a daily turnover of around $50,000. Like many other aimless projects, OFF quickly ceased to exist.
And some more amazing coins
Dentacoin. The project was created for use by dentists and patients of dental clinics. It raised $117 million, and the founders of the project bought a dental clinic in London for the digital currency. While some may hastily label Dentacoin as strange, curious, or even useless due to its limited mainstream success, it would be unfair to dismiss its ongoing functionality and potential impact. Despite not achieving widespread adoption, Dentacoin has remained operational, diligently serving its purpose within the dental ecosystem. It’s important to recognize that innovative projects like Dentacoin often face significant challenges when introducing disruptive ideas into established industries. The complexities and regulatory hurdles associated with integrating a digital currency within the dental field likely contributed to its slower adoption. However, Dentacoin persists, continuing to provide value to those dentists and patients who have embraced its unique approach.
In the ever-evolving landscape of cryptocurrency, not every venture achieves immediate and explosive success. Dentacoin serves as a reminder that the journey of a digital currency can be unpredictable, and its ultimate destiny may yet unfold in unexpected ways. As the dental industry and technology continue to advance, Dentacoin’s longevity demonstrates its resilience and determination to carve a niche within this specialized domain.
UFO Coin. This altcoin was released in 2014 as a means of payment for trading with aliens. Although its initial concept may raise eyebrows, it is noteworthy that UFO Coin has managed to endure over the years, persisting in the ever-evolving landscape of cryptocurrencies. While UFO Coin’s exchange rate remains notably low, it has exhibited unusual stability. This peculiar characteristic sets it apart from many other altcoins, which often experience significant volatility in their valuation. Despite its modest value, UFO Coin continues to exist, attracting a dedicated community of believers who embrace its extraterrestrial-focused use case.
Potcoin. The coin was launched in 2014, it still exists and it is unlikely that something threatens its existence. This token is designed to be used in the legal marijuana market. The capitalization of the project already exceeds $9 million.
Sexcoin. As the name implies, the cryptocurrency was created for use on websites and services for adults.