Review on ArtByte by gregori cordova
A project that used piracy to profit
Many of the cryptocurrencies that come out on the market are created for very precise reasons. For example, just as steem was created to support content creators, Artbyte aims to be the cryptocurrency par excellence used to support artists, so that they develop their careers taking advantage of the different potentialities offered by blockchain technology.
ArtByte does not charge any fees to both art lovers and artists. It is also created to encourage the creation of art around the world. Arbyte was intended to be a very ambitious project, since they had large-scale plans for photographers, models, writers, singers, actors, painters, designers etc, to be recognized, and rewarded in a direct, fast and very low cost way, for fans and art lovers. the artbyte token could be used in a wide range of methods, such as twitter for example in which fans directly supported artists through tips. Also intended the token to be used in the entertainment industry, to buy movie tickets or for concerts and shows.
Users could acquire this currency very easily through a debit or credit card on the platform, in which you could even buy albums or songs and 100% of that money would go to the artists.
Everything prided itself to be very promising, but the truth is that nothing was working as promised, since they were using piracy for profit, and none of the money paid by fans went to the artists. In their posts on twitter and on their website they claimed to have received support for more than 25,000 artists, something crazy , since the number of artists that were listed on the platform were only a few. Their project was full of contradictions, which any inexperienced in the area could notice. Their social networks did not have massive support from the community and they used fake accounts to get noticed. They even bragged that their currency was listed on various exchanges, such as bittrex, which was a lie.
In short, this project sought to benefit from an area, which has many fans all over the world, but fortunately they were run by inexperienced people who could not carry out their scam with much success, and the currency today is considered dead.
Pros
- none
Cons
- They inflated a lot of data to attract fans from all over the world.
- They lied by saying their currency was listed on various exchanges
- Their White paper is very basic and did not explain how they were going to achieve everything they promised
- Their website is very unprofessional and it is not known who the creators of the project are
- There is a lot of false information on their website, and they used piracy for their own benefit
- They claimed to have helped more than 25,000 artists around the world, a totally illogical figure, since the number of artists they published was very small.
