Meet the 21-Year-Old Entrepreneur Trying to Sell His Failed ICO on Ebay

Now, people who jumped on the ICO bandwagon a bit too late are looking for a way out.

Enter Ivan Komar, the 21-year-old owner of a startup called "Sponsy," who is trying to sell his project on eBay for $60,000 after failing to gain the interest of the public in his tokens.

As Komar explained it previously to the Financial Times, his company missed the ICO boom of 2017, and no one became interested in its tokens later in 2018.

Despite the legal advise, Komar actually attempted to hold an ICO at the start of 2018.

Finally, Sponsy is described as a blockchain project that could launch both ICO and a security token offering.

Komar told Cointelegraph that his startup had received all the documents required for holding a token sale from the same lawyer who advised him not to run an ICO before having developed any actual product.

"We decided to abandon those plans. But we believe that some person out there might be interested in this. That's why we wrote about the fact that the buyer could run an ICO or STO with our project."

"Somewhat ironically, Komar has finally got what he wanted: the public's attention."I Googled about other crypto startups selling on eBay and I realized that there was no competition in this regard,'' the entrepreneur said.

Sponsy's case seems to illustrate the critical condition of the ICO market.

Just during Q3 2018 - from July to September 2018 - ICO funding overall fell by a whopping 48 percent, according to a study from ICO analysis firm ICORating.