Investing in altcoins is often a tricky ordeal. Many projects suffer from developers not delivering on the roadmap or scamming users. In this case, the project failed because its creator gambled away all investor funds.
Another Altcoin Goes Bust
With thousands of new altcoins, tokens, and currencies launching every year, it is hard to get excited about anything. All roadmaps look the same, technology gets rehashed, and one in every 500 projects might spark some long-term excitement. However, when internet personalities get involved, things look up. Unfortunately, that isn’t always a good combination, as is evident where CryptoZoo is concerned. But that is a very different ordeal entirely.
CluCoin was a cryptocurrency designed to change the world. A bold and ambitious plan that likely would never reach its full potential, but it could still create a precedent. DNP3, a well-known internet personality, created the currency. He made a name for himself by giving away tons of money, computers, consoles, and other items over the years. All of those giveaways were legitimate, and prizes ended up where they were supposed to.
DNP3 is also a charismatic individual and someone who regularly streamed on Twitch. Like many others, he took notice of cryptocurrency and saw potential in decentralized technology to improve the world. We have an in-depth article on Clucoin and what it was intended to do here. The project also received an NFT collection – dubbed Goobers – as part of a Web3 game. Sadly, neither gained much traction outside the Clucoin community, as 2022 was a bearish market overall.
The Gambling Addiction Issue
Earlier in January, DNP3 took to Twitter to explain a few things. Many had high hopes for a new update on Clucoin to bring the price back to pre-launch levels or better. Unfortunately, the CLU value dropped off a proverbial cliff as there wasn’t sufficient demand for a currency with such an inflated supply. However, that wasn’t the reason…
