Why savedroid's marketing gag is really bad advertisement for the (German) ICO

The hype around ICO's is growing and even in good old Germany where people still love cash like nothing else is starting to get a grip on it. As much as people talk about it, as little people actually know about it. And little knowledge leads to extreme positions due to the lack of differentiation.

Savedroid raised one of the first German ICO's. They in some way are pioneers, but this embodies also a responsibility for the industry as a whole. And savedroid has heavily misused this provided trust by trying to become popular.

After their successful ICO, savedroid this week deliberately put their website down and didn't respond in their telegram channel (a preferred way of communication to "investors"). As other ICO's have already been identified as scam, investors feared (for good reasons) that savedroid founders had took the money and ran. As it turned out, this was only a marketing gag to sell ICO advisory.

It is incredibly selfish and critical that savedroid misused the first German ICO to utilize the image of a scam in order to gain public attention. Savedroid used an ICO to finance and misuses it to create marketing. But the larger result is a growing distrust in these alternative financing mechanisms. Thereby they even hinder serious transactions based on DLT. They misuse the same force that has made them popular.

And thereby, Germans may get even more fear to invest in these technological advanced solutions. It correctly shows that, after all, by directly investing in ICO's it all depends on the trust provided into the team. Basically, savedroid's investors thereby payed for their marketing scheme.

Of course, ICO's need to be regulated. But building up distrust in a technology due to selfish reasons of marketing should be a unacceptable.