Forbes partner ICO Civil failed to raise $8 Million

ICOFailOfTheWEEK:

Forbes partner ICO Civil failed to raise $8 Million! Just 10 days ago Matt Coolidge, founder of journalism platform The Civil Media Company announced a cooperation with Forbes media giant. The collaboration was a ‚Äúmilestone for the block chain-based journalism,‚ÄĚ said Coolidge on Medium.

The joy, however, was only of short duration. The blockchain startup www.Civil.co failed to reach the $8 million soft cap and canceled the ICO. Seems to be the end of the days when promoters simply had to hint at collaborations with established companies to impress investors.

Civil CEO Matthew Iles said it was probably too complicated to buy tokens. However, there were more problems as it was not clear why blockchain would be used. ICO projects fail all the time, of course.

But Civil’s stumble is particularly notable because the platform recently grabbed headlines due to its partnership with the two mainstream media organisations. Obviously ICO investors becoming more selective in general. First signs that we are back to a kind of normal.

Source: www.BTC-Echo.de, CCN.com