Some members of the cryptocurrency community want to use the confusion in the United States to probably cynically make money from the tragedy of George Floyd. They created a token by his name.
An attempt to make money on a tragedy – George Floyd’s token
It’s a new project – “George Floyd’s token” (FLYD) (you can find the link to the initiative’s portfolio here). His website assures that George Floyd’s memory will be “Lived forever” thanks to the mentioned token.
Despite the strange calls for “Immortalize” Floyd using blockchain, however, it is not a collector’s or non-exchangeable token. FLYD is an ordinary token that complies with the ERC-20 standard. He’s supposed to help “Protesters and activists accept more than one payment stream if they need such help.”
Unfortunately, anyone who analyzes the initiative may have a red light on their head. Like many other rogue ICOs from 2017 and 2018, FLYD has a lot of inaccuracies. It has not been clarified whether the protesters want an additional payment stream at all and this in the new token. It is unclear whether the token is associated with any known organization that stands behind protests and peaceful manifestations (yes, these are also taking place in the US today).
The founders of the project promise to transfer some of the proceeds from the sale of tokens to the Floyd family and the Black Lives Matter movement. There is no evidence that you can believe it.
Cointelegraph even attempted to contact the project, but received no response.
Work of art
However, it is worth paying attention to positive initiatives. Osinachi, a Nigerian artist, sold his new work in digital form on May 31, “I can not breathe”, for 7 ETH. It depicts a scene in which George Floyd is strangled by a policeman.
“Part of the proceeds from this auction will go to the Black Lives Matter movement”
– admitted the author.
The movement itself has a bottom-up and decentralized form.
Osinachi was the first Nigerian artist in history to present his work at the Ethereal Summit. This took place in 2018 in New York. He was also nominated for the Bridgeman Studio Award 2019.