30.11.2017 New Zealand’s financial regulator warned investors about risks of participation in Sell My Good ICO

As the NZ Herald’s own investigation showed, start-up, which is a crowdfunding campaign of an online marketplace, overestimated visits and economic activity on its website by 10,000 times, while only 400 items are on sale, and some of them were added several months ago.

Also there are two subjective moments, which together lead to doubts. The first is the fact that the initiator of the tokens` release is only 19 years old. It can`t be said that this is a univocal criterion, recall the young genius Vitalik Buterin, but nevertheless. The second is the ambitious amount that start-up plans to receive – no less than 220 million NZ dollars, which is approximately equal to 152 million US dollars.

Perhaps, the fact that already collected several million dollars, the company’s website at the time of this message`s publication was unavailable confirms the fear.

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