Forty-six percent of the initial coin offerings launched in 2017 have already crashed and burned, despite raising a dizzying $104 million.
By the numbers: Bitcoin News analyzed 902 ICOs from last year and found that 142 never made it out of the funding stage. Another 276 failed later in the process, “either by taking the money and running or slowly fading into obscurity.” (See: “What the hell is an initial coin offering?”)
The living dead: An additional 113 projects are “semi-failed,” according to the authors, either because a given project’s development team is no longer communicating on social media, or because the community around it is too small. Either way, investors should be unhappy.
The takeaway: We already knew that the ICO scene had its fair share of fraud, which has inspired financial regulators to consider new regulations to protect investors. The high failure rate is another reason to be skeptical when someone tries to sell you a flashy new crypto-token.
This startup wants to copy you into an embryo for organ harvesting
With plans to create realistic synthetic embryos, grown in jars, Renewal Bio is on a journey to the horizon of science and ethics.
VR is as good as psychedelics at helping people reach transcendence
On key metrics, a VR experience elicited a response indistinguishable from subjects who took medium doses of LSD or magic mushrooms.
This artist is dominating AI-generated art. And he’s not happy about it.
Greg Rutkowski is a more popular prompt than Picasso.
This nanoparticle could be the key to a universal covid vaccine
Ending the covid pandemic might well require a vaccine that protects against any new strains. Researchers may have found a strategy that will work.
Get the latest updates from
MIT Technology Review
Discover special offers, top stories, upcoming events, and more.