Bad News screwed by a greedy team ...No Refereum ICO for us....or anyone

in ico •  8 months ago

Note: I am not an investment advisor and this is only about my personal view!

I signed up for the white list early waited patiently, and promoting it to referrals as the ico team requested, with the obvious view that it was a decent investment that would be useful in an industry that many love, gamers..
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and today a week before the ICO I receive this in a much longer BS email!
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From refereum:
Token Sale Update

Community interest to participate in our token sale outstripped our wildest imagination. Over 150,000 people registered for our whitelist. And total requested purchases for our technology exceeded 1,000,000 ETH ($800,000,000 USD).

We are honored to announce Refereum met its target sales quota:*
Total purchase requests: 1M+ ETH ($800M+ USD) from over 150k whitelist or waitlist members.
Total ETH accepted in presale: Approx 40K ETH
Total value of ETH accepted: Approx $27.8M at Feb 5 closing ETH price on coinmarketcap.com.
% of Refereum tokens sold: Approx 40% of all Refereum tokens.

After taking into consideration advice and feedback from our advisors and legal teams , we made the decision to cancel our public sale.
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The greedy team saw the world wanted their tokens because of the strength of a viral marketing campaign and and kept them for themselves!
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Originally I thought this was a good ICO that was going to fit a niche in a market of multiple companies providing games.
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But if they can not keep the promise they made to the early supporters, why would the big game publishers, electronics manufacturers and others in the gaming industry possibly trust them to manage the middle ground of thee most important part of the their business, sales and customer aquisition....

For that reason I am not going to participate in investment in Refereum and would warn anyone off any long term investment in this coin.... Short term they may see a bump...But it will all be hype....Watch out when the Big Investors take everything at the beginning...
Its a number 1 indicator of a classic example of a pump and dump scenerio down the line!
I'm sorry I ever promoted them...
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But we live and we learn, Fortunately I never invested in this token but got free ones for some stupid referrals.....

The silver lining this shows even when investment is perceived to be well vetted. A little attention with the communications they send you or lack there of, and you can easily help you get the rotten to the core apples out of the your possible investment basket.
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rather useful... I will tell you of another ICO that went the opposite direction in a few days after I invest in them....