Brutal Analysis! - Naga Coin $NGC

Naga Coin (NGC):

Main use is to purchase/participate in the services NAGA Group AG offer. Therefore this ERC20 crypto asset has been made and owned by that company.

• they don't really need a coin to carry on turning over "Millions of EUR in yearly revenues" as they currently claim to do.
• NAGA only IPO'd in July, recently new company.
• no data on their financials (trades on German stock exchange) but share price is at 400% since IPO.

So what do they need $30mil of an ICO for?

• business and tech development, legal and 50% on marketing(so more ads 😣)

Basically the money they got from the IPO and their millions in revenue ain't enough to keep them afloat, so they ICO'd as well!

This is a trend in the stock market of companies changing their name to add "blockchain" and their share prices rocketing. More are gonna ICO as well when there is no real need.

I would have considered trusting them if they hadn't ICO and just released the coin as ongoing development. But in reality people are gonna trade the coin and not know about the company behind it.

Also take a look at that price estimation... at least they were modest with that!