DeepBrainChain CEO: We need funding to keep the project going
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Answer DeepBrainChain CEO: We need funding to keep the project going
DeepBrainChain is a project that aims to democratize artificial intelligence (AI).
Although the project reached its allotted limit by raising nearly $12 million in its initial coin offering (ICO) in December 2017 and launching it with 13 advisors.
However, recent comments made by DeepBrainChain CEO Feng He on Telegram indicate that the project is struggling to move forward due to funding.
According to one of the messages he sent earlier:
Yes, I have shortcomings in management.
In 2018, I spent a lot of energy on non-technological products and technologies and gave lectures at many places.
I ended up wasting a lot of time, so in 2019, I changed my cycle and focused on products and techniques.
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He added:
Now the price is too low, I don’t want to sell (DeepBrainChain is meant to be sold), so I’m talking to Gobi to invest, and I hope they invest, so we don’t have to sell.
Gobi Partners is an investment firm that manages six mutual funds and has seven offices in Asia.
Unsurprisingly, he no longer wants to sell DeepBrainChain tokens (DBC), given that they are absolutely worthless.
The cryptocurrency DeepBrainChain is now trading 99% below its ICO price.
One DBC is now worth about $0.0007.
The same happened to trading volume as it has also collapsed over the past two years, dropping from a previously recorded peak of $65 million per day in January 2018, to less than $90,000 today.
As a result, if the “DeepBrainChain” team sells any more coins, it will cause the price to drop even more.
The project has been accused of squandering ICO funds and has repeatedly failed to deliver on its promises.
To this day, the project has not released a public mainnet, and according to one angry user, it has not achieved anything of what it had planned.
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However, this project is not the only one that has not moved from its place.
A recent report found that there have been at least 1,840 failed crypto projects since 2017, with the vast majority of these projects listed as fraud:
How many cryptocurrencies died in 2019?
Read also:
Over 1,000 Cryptocurrencies Failed in the Crypto Industry… What Does This Mean?
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