Engagement Token was promised as a revolution within the world of online publishing and ad revenue but in the end, it ultimately produced nothing in terms of results.
The elements put forth in the white paper were revealed in time to be nothing more than hype; nothing was meant to be achieved. They highlighted a bright future for those using the Engagement Platform and Token on their websites but in reality, the future would give way to a non-existent product supported by vague and uninformative reports.
The entirety of this money-grabbing project remains heavily criticised by the community as the value of the token plunged violently by 99% – the little social media updates made by the ENGT team are peppered with scathing comments. The current value of the coin is around 0.000134 USD, while the ICO price stood at 0.11 USD – this is a plummeting decrease of 99.88%, leaving it as one of the worst performing ICOs released in 2018.
The owners of the Engagement Platform wound down their communication channels very early on, leaving investors stranded and often unaware of the status of the project.
This class action is accepting class members
One of the most distressing facts of this ordeal is that the implementation of the Engagement Token hasn’t taken place on any of the Platform’s websites – ENGT has taken their investors’ funds and showed nothing in return.
The most recent comments, published in a report by ENGT International (the owners of Engagement Token) paint a clear image of failure and offers little more than a bleak outlook on the continued performance of the token.
In their words:
“… we are struggling with having people respond to an incentive of earning Engagement Tokens.”
The base foundation for the conception of the Engagement Token was the aim to revolutionise how online publishing and ad revenue works. It was designed to increase user interactivity and eliminate elements such as “malvertising” but this idea dwindled rapidly and failed to expand across a wider network right from public launch.
Quite simply, ENGT International talked a big game but failed miserably when it came to delivering consistent results. They proposed a thriving ecosystem in which publishers, users and advertisers could work together in harmony, but the end result was firmly non-existent and in less than a year had reduced to a mere fraction of its proposed worth.
You may ask, what is ENGT International’s most recent advice or recommendation for moving forward with Engagement Token?
“… hunker down for the long term.” This statement is disappointingly followed by:
“We are contemplating additional partnerships and again will inform you as soon as concrete action will be taken.”
ENGT also stated:
“It is tough to find a well-performing project in the market.”
They were blaming the poor performance of ENGT on the performance of the market as a whole and offered very little confirmation of developments or innovation to counter this fact. It’s apparent that all ENGT set out to do was to fool investors out of their capital to fund their own activities.
Engagement Token now exists merely as a simple exchange with none of the aforementioned white paper promises being realised and will likely remain that way until all value is lost.
ENGT promised a high-performing product that would integrate seamlessly into a well-established platform and benefit millions of users, but the ultimate result was an undelivered and quickly-forgotten shambles.
ENGT was designed to:
- Promote user interactivity and engagement.
- Provide a platform that a wider network of websites could use to ensure a better user experience.
Quite simply, these goals are illusionary and have never been realised. ENGT International have provided no evidence that shows progress in these areas. However, they have stated on multiple occasions that many aspects of the endeavour aren’t performing as well as they desired. This is an understatement, of course – there has been no visible return for the investors who helped to fund this project a year ago.
To-date, there’s no recognition of these goals on any of Engagement Platform’s websites, and there likely never will be. Not surprisingly, Engagement Token is labelled as a scam in all social media.
To clarify: ENGT was to be integrated across a range of top-performing websites, and wasn’t. This makes the token completely pointless.
All aspects of the endeavour have shown exponential and severe decreases in performance, from the value of the token itself to online interaction and communication by the ENGT team.
Coincidentally, it doesn’t appear that there could be any respite for ENGT in the near future, as the team are having extreme difficulties in locking down any profitable partnerships. This concern is exacerbated by the fact that even if they did secure partnerships, the Engagement Platform could be made null and void by users simply employing adblocker software.
A final point to make is that realistically, there was never any need for an ICO here – if Engagement Platform needed a method of payment, they didn’t need to make a new token as plenty exists in the current market for adoption. This existed purely as a cash grab scheme.
ENGT International have made it exceedingly difficult to obtain any knowledge of their expenditure, as their sporadic reports are vague and distant, disregarding any comment about the monetary aspects of the organisation. In essence, they’re hiding any evidence of their finances and are batting away any queries into the status of the project.
Currently, investors have no idea of the future of ENGT as the company is failing to provide a timeline, roadmap or any concrete expectations. The fact of the matter is, ENGT received large funding from eager investors who were ultimately let down and conned by an organisation that has been unable to realise their promises.
What meagre advancements they have made all seem to be internal and are designed to further themselves as opposed to the project as a whole. There is no evidence that a single dollar raised has been spent to fund the project, and there are no signs of any active users currently involved in their sham of a project.
There is no sense in the Engagement Token, as there are many more reliable coins available, waiting to be adopted.
No, the Token itself is simply a duplication of a standard ERC20 token.
ENGT has lost 99% of its value in the space of a year and has produced absolutely nothing to show for the 30m USD publically invested in the project. The goal and promises stated in the white paper remain unrealised and there is no indication that ENGT endeavour to make amends at any point in the future. They are flippant with their reports and offer paltry explanations as to their shocking levels of performance. We urge any ENGT holders or users who have suffered financial losses to join our class action with complete and clear confidence.
- MR. CONSTANTINE GOLTSEV
BOARD OF INVESTORS:
- MR. MICHAEL MALONEY
- MR. JOSEPH FISCELLA
- MS. KELLY GALLAGHER
- MR. MICHAEL JORDAN
Approx funds raised:
Coin value lost since inception:
99.9% value lost
About this ICO:
– Promises abandoned
– Token irrelevant
– Poor communication
– No user incentive
– Value almost non-existent
Engagement Token team has not replied to this post yet.
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