And that includes investing in an ICO with "no purpose"
The largest ICO to date, block.one, has got investors buzzing as it has raised over $700 million and counting - as investors are just so eager to get their hands on anything related to the cryptocurrency mania that's taking over the world.
block.one is essentially a software company, which writes code for its main project - a Bitcoin-like operating platform, for hosting any variety of applications. But here's the catch. It's coin offering, called EOS, has no actual relationship to the software. A purchase agreement that investors must sign states the tokens "do not have any rights, uses, purpose, attributes, functionalities or features".
Yet, investors just keep coming in.
Either block.one's technology is really going to be the next big thing since Windows, or this just shows you the frenzy that has taken over the financial world.
Another point to note is that block.one only plans to write the initial code for EOS and won't develop or build any other platform related to the code - meaning it will be up to third parties to come in and develop it themselves from there.
The price of EOS over the last six months tells you the story:
