The startup promised to return the money to investors because of problems with the authorities and market corrections
Project Blue Frontiers, who was involved in the creation of floating Islands, ceased to ICO. The company promised to return money to investors because of the market situation and problems with the authorities, writes Bloomberg. The startup was supported by the founder of PayPal Peter Thiel.
In 2017, the company entered into a partnership with French Polynesia on the establishment of the island near the coast with a population of 200-300 people. However, the authorities refused to renew the contract, that was one of the reasons for the termination of the ICO.
The founder of the Blue Frontiers Germany Nicholas added that the decision was influenced by the reduction in the cost of digital money and the lack of support for large investors. Despite the assistance of Peter Thiel, he was not invested in this project. New island country was to become free from geopolitical influence and currency volatility.
Informed Tiberius of the startup Group interrupted ICO. The Swiss company stopped selling tokens, due to excessively high commissions for customers, investors will return to $1 million.
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