The ICO mania seems to have reached new heights when one of the richest sportsmen in the world posted an Instagram post boasting about the “$hit t$n of money” he would be making on an ICO by Stox, on Aug. 26.
ICOs have been a real craze for fundraising and for the public who have been caught in a feeding frenzy recently. Dozens of ICOs have seen some incredible results as the initial sell off of these digital currency coins have netted around $1 bln this year alone.
The flamboyant boxer, known for his fighting ability as much as he is for his money, looks like he will be diversifying in a big way as he joins the cryptocurrency craze.
Mayweather’s post shows him on a plane, sitting behind piles of dollars as he boasts in the comments about the money that will be made in the Stox ICO, along with a load of ICO-based hashtags.
Stox will indeed be releasing the sale of its tokens (STK) on Aug. 26 with the company stating that it will be creating “The future of Predictive Markets.”
Stox aims to make $30 mln from the ICO that will last two weeks. However, if Mayweather is serious about this, it is unlikely that it will take that long for the sale of the coins.
ICOs facing the SEC’s book
Digital currencies are still treading a line of legality in many countries, but ICO’s took a major knock this week as the SEC ruled that the "coins" sold in one high-profile ICO were actually unlicensed securities—a violation of federal law.