ShitcoinGraveyard runs a database of active and failed cryptocurrencies. Dead projects will get buried; active coins receive a Shitscore indicating their level of shittiness.
Learning from failure is crucial in business. Even more so in the crypto sphere, where there have been a lot of failures already. In particular during the ICO-Mania in 2016 and 2017. But where are all those scams and shitcoins gone? Disappeared they have, disappeared from the face of the earth.
While it’s good that the bear market has drained the swamp and washed illicit projects out of the market, there should be a way to review what they did wrong, and how they did it. That could be a way for businesses, regulators, and users to get educated on how to identify scams, and how to avoid them.
That’s the idea behind ShitcoinGraveyard – an eternal resting place for shitcoins after they’ve died. Four Berlin-based crypto enthusiasts, Roman Kemper, Marten Rauschenberg, Yannick Eckl, and Christoph Klischan, are the masterminds behind the website.
Providing comic relief for shitcoin holders and educate at the same time
Roman Kemper, the CEO and “Chief Gravedigger,” said he and his team were inspired by the ICO market implosion in 2018. He felt alarmed by the lack of information and the ease with which dodgy projects raised sometimes millions of dollars.
And he also believed it might be fun to look at it from a comic angle. Maybe not so much for those who lost money, but at least for everyone else.
“With all the shitcoins piling on — going to almost 1,000 different bad investments — we felt there was a need for a shitcoin graveyard that can provide comic relief for the shitcoin holders and educate at the same time. Never forget: Don’t give a shit! Except if you are visiting our site,” says Kemper.
Yannick Eckl, Marketing Director of ShitcoinGraveyard, agrees, “The world needs a place for all the dead cryptocurrencies and tokens to rest in peace. The last honor for exit scams, rekt coins, tokens, and digital cloud-castles — a place where rekt shitcoin holders get entertained and educated while waiting for the moon.”
Deadcoins, ZombieCoins, and a Shitscore for active projects
ShitcoinGraveyard includes a database of 4,000 cryptocurrencies. 900 of those are “dead” – based on their trading volume and social media profiles. ShitcoinGraveyard even conducts funerals for dead altcoins. “Rest in Sh*t, You Piece of Coin,” is the slogan.
Besides these “DeadCoins,” the graveyard team also identifies ZombieCoins, meaning coins that are trapped between the living and the dead. Those are projects that have been abandoned by the team, the website was discontinued, but there is still active trading volume.
The team also monitors existing cryptocurrencies to evaluate their chances of failing. Cryptos will get a Shitscore. The higher the Shitscore, the shittier the project. A crypto rating agency in the making? Probably not, it’s more meant as a joke. But who knows?
ShitcoinGaveyard also publishes a magazine, covering the most important news regarding “the general craziness of the cryptocurrency scene.” The website reads, “We will bring satire to an already ridiculous genre and leave no stone unturned when it comes to shitcoins and scammers.”
Sounds valid. “Let’s unite and hunt down all Shitcoins before they can burn your funds!” – so the Call to Action on the website. We shall see who ends up next in ShitcoinGaveyard’s Pile of Sh*t.