Contents Protocol cancels project after 30,000 ETH ICO

Contents Protocol, a startup specializing in cryptocurrency who raised about 30,000 Ethers (ETH) in 2018 announced to close its doors. The company will (partially) reimburse investors.

On his website, Contents Protocol has announced that it will cease operations due to regulatory uncertainties in terms of cryptocurrency and faced with the lack of commercial prospects for his project.

On the 29,333.77 ethers raised during his ICO in December 2018, the young shoot intends to redistribute 26,877.68 ETH by converting its remaining assets.

Contents Protocol aimed to collect data on users of content platforms in order to resell them to content providers and thus "create a better content production ecosystem". In exchange, she offered remuneration via her cryptocurrency Contents Protocol (CPT) content consumers interested in the concept.

There were many difficulties in encouraging the participation of content consumers because of their negative perception of cryptocurrency, of the price volatility and of the complex user experience. Furthermore, it was also unclear when legal and accounting standards for cryptocurrency would be defined. We therefore decided that it would be preferable to end this activity and return our remaining assets to the holders of CPT, ”Wrote Content Protocols.