A few days ago, one of the people we follow on Twitter retweeted something from the account @ravnapp that began with “Who loves a sexy token?” Although we’re not entirely sure why the team behind RAVN chose a middle school student to develop their social media marketing strategy, we think that student deserves an A+ because we were moving faster than a one-legged man at an ass-kicking contest trying to click on that tweet. Sexy token? Yes, please!
So did we actually find a “sexy token” at the RAVN ICO website? That really depends on how you define “sexy.” If by “sexy” you mean a bloated, disgusting abomination that is antithetical to everything blockchain and cryptocurrency supposedly stand for, then yes…
Otherwise, no. Not even close…
Okay, so no sexy token, but is RAVN really that bad? Let’s go through the four “Ts” and find out…
Compared to most of the other ICOs we review on Tokenicide, the core executive team behind RAVN actually appears fairly qualified. So much so, in fact, that we’d be inclined to say they should know better than to pawn RAVN off as a legitimate blockchain project.
But for now we’ll give them a pass.
RAVN‘S list of advisors is also not too shabby. That is, until you get to the bottom of the list. Because buried there (presumably so no one can find them) are three of the usual suspects, a.k.a. “top-rated ICObench experts.”
Remember that pass we gave the RAVN executive team?
Why? Because if anyone should know about ICObench advisors, it’s the RAVN executive team. And given all the other advisors they have, the only possible reason why they would hire these three guys would be so they could get this 👇
So what about the technology? According to its website, “RAVN is the world’s first and only private, encrypted, anonymous, and invisible instant messaging app.” Let’s stop right there and ponder the following…
There aren’t many constants in the extremely volatile world of ICOs right now, but one thing we have learned is that if a project claims to be the “first” of something, you can pretty much guarantee it’s bullshit.
How does RAVN stack up? Well, there are several instant messaging apps that basically do all of the things that RAVN claims to do, including Signal, Threema and Cyphr, all of which are private, encrypted, and anonymous.
But…are they “invisible?” Not in the same way that RAVN claims to be, because RAVN lets you “hide” the app on your mobile device, kind of like the way you might rename a link to Pornhub on your desktop to something like stopmasturbationnow.org…
That’s pretty much it. Oh yeah, except for “blockchain.” Which brings us to…
The XORRAX Token
Here’s how RAVN explains its incorporation of blockchain technology into the app:
Blockchain is the next natural step for our company. The addition of blockchain technology to the Ravn app will further enhance security and privacy, while maintaining full anonymity within the app. It will also introduce more transparency into the app experience, which will give rise to new ways to communicate and share with other users.
This would be great if it were true. But it’s not. At least we couldn’t find anything to justify how security and privacy are enhanced. The only “enhancements” appear to be the following:
- Sports betting;
- Party bets; and
Because being able to bet on sports and play online lotteries (which are totally illegal in nearly every jurisdiction by the way) enhances security and privacy…or something. 🙄
So why are they doing an ICO again?
We’ll give you a hint…
It starts with the letter M and rhymes with “money.”
There’s no point beating around the bush (although if you or someone you love has trouble stopping, don’t forget you can always visit stopmasturbationnow.org for help): this is a $50,000,000 cash grab, pure and simple. Note that we’re not saying it’s a scam. In fact, the app is already being released on iOS and Android as we write this (which again begs the question as to why they need $50,000,000).
There’s nothing inherently scammy or troublesome about the app itself. And with a few
notorious notable exceptions, the team appears pretty solid. But the fact that the project is trying to raise $50,000,000 “just because it can” is something we find very troublesome. Not that it’s the first time something like that has happened, mind you…
This isn’t the worst ICO we’ve reviewed, but it is definitely one of the most disappointing, especially because the project has attracted some support from people in the crypto space whom we thought were more about the technology than the money.
Oh well. Anything for the almighty XORRAX…
Our final Honest AF Rating on this project is a 1.6 😡 – An embarrassment for blockchain