10. Blockchain Media Startup Civil's ICO Falls Flat
The Civil Media Company wanted to create a new economy for journalism using blockchain, but in October was unable to sell $8 million worth of its cryptocurrency, according to TechCrunch. The company ultimately ended up selling just $1.4 million worth of cryptocurrency tokens.
Civil had reached out to The New York Times, The Washington Post, Dow Jones and Axios, but failed to generate interest in its token, according to the Wall Street Journal.
The company, though, wasn't deterred, and planned to conduct a new token sale fundraiser in a simpler format. Once the newly reformatted token sale is completed, Civil plans to launch three new features: a blockchain publishing plugin for WordPress, a community governance application, and a developer tool for building without blockchain experience.
