The founders of Sphere set out with a plan to create the world’s first decentralised, user-owned social media platform but subsequently failed miserably in their efforts. More than a year after their ICO, the company has yet to realise any of their promises and now hosts a token that has crashed in value to almost nothing.

They preyed on the controversy created recently by Facebook and their shady data and privacy policies and used it to their advantage to shill investors into funding the ‘development’ of a platform that would never sell your data and offered complete safety and security.

Today, the coin has dropped by over 99% in value and has no significant plans on the horizon.