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New LGBT token goals for fairness however raises pink flags with neighborhood


The cryptocurrency neighborhood has raised considerations about Maricoin, a brand new token supposedly associated to the LGBT+ neighborhood, with some folks even suspecting the venture to be a rip-off.

Launched in December 2021, Maricoin guarantees to allow a “social, moral, clear and transversal technique of cost” focusing on the worldwide “pink economic system,” which is estimated to quantity to trillions of {dollars}.

One would possibly query Maricoin’s ethics although, as its title is a portmanteau that performs on a Spanish slur for homosexuals.

In accordance with the venture’s web site, Maricoin runs on the Algorand blockchain, with creators planning to record the token on a number of crypto exchanges in 2022.

The venture was reportedly based in Madrid by native hairdresser and entrepreneur Juan Belmonte, who mentioned that the brand new token is designed to assist the neighborhood revenue by offering a brand new cost methodology for LGBT-friendly companies worldwide.

In accordance with CEO Francisco Alvarez, as many as 8,000 folks have been already on a ready record to purchase Maricoin as of early January.

Regardless of the token being extensively promoted because the “first coin created by and for the LGBT+ neighborhood” on many mainstream media channels, Maricoin is just not fairly the primary cryptocurrency venture associated to the LGBT+ neighborhood. As beforehand reported by Cointelegraph, there are a selection of LGBT-related tokens and initiatives, together with the LGBT token, which was launched again in 2018.

A number of trade observers have expressed skepticism over Maricoin, with some even alleging that the initiative might be a rip-off.

“It’s not a coin, it’s a token, clearly a rip-off to catch fools who need to make simple cash with crypto. Their web site is poorly made, ugly and doesn’t have a single tech line about how this crypto will work. Not a single whitepaper and their waiting-list type is a rattling Google Doc,” one Redditor argued.

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Justin Ehrenhofer, vice chairman of operations at crypto pockets service Cake Pockets, mentioned, “This 100% looks like a rip-off.”  He famous that the Reuters article on Maricoin didn’t embrace a lot skepticism on the venture: 

Maricoin didn’t instantly reply to Cointelegraph’s request for remark. This text can be up to date pending any new info.