New LGBT token go for equity however raises warnings with neighborhood

The cryptocurrency neighborhood has actually raised issues about Maricoin, a brand-new token apparently associated to the LGBT+ neighborhood, with some individuals even believing the task to be a rip-off.

Launched in December 2021, Maricoin guarantees to allow a “social, ethical, transparent and transversal means of payment” targeting the worldwide “pink economy,” which is approximated to total up to trillions of dollars.

One may question Maricoin’s principles though, as its name is a portmanteau that uses a Spanish slur for homosexuals.

According to the task’s site, Maricoin operates on the Algorand blockchain, with developers preparing to note the token on a number of crypto exchanges in 2022.

The task was apparently established in Madrid by regional hair stylist and business owner Juan Belmonte, who stated that the brand-new token is created to assist the neighborhood revenue by offering a brand-new payment technique for LGBT-friendly organizations worldwide.

According to CEO Francisco Alvarez, as numerous as 8,000 individuals were currently on a waiting list to purchase Maricoin since early January.

Despite the token being commonly promoted as the “first coin created by and for the LGBT+ community” on numerous traditional media channels, Maricoin is not rather the very first cryptocurrency task connected to the LGBT+ neighborhood. As formerly reported by Cointelegraph, there are a variety of LGBT-related tokens and efforts, consisting of the LGBT token, which was released back in 2018.

Several market observers have actually revealed hesitation over Maricoin, with some even declaring that the effort might be a rip-off.

“It’s not a coin, it’s a token, clearly a scam to catch fools who want to make easy money with crypto. Their website 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 form is a damn Google Doc,” one Redditor argued.

Related: Beware of advanced rip-offs and carpet pulls, as punks target crypto users

Justin Ehrenhofer, vice president of operations at crypto wallet service Cake Wallet, stated, “This 100% feels like a scam.” He kept in mind that the Reuters post on Maricoin didn’t consist of much hesitation on the task:

Maricoin did not instantly react to Cointelegraph’s ask for remark. This post will be upgraded pending any brand-new info.



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