Is SardineCoin Real? The Sardines Are, At Least
On Wednesday, MY Sardines, a Luxembourg-based company, announced its intention to launch a cryptocurrency backed by – are you sitting? – vintage sardines.
Word of the unconventional initial coin offering (ICO) prompted piscine puns, stimulated discussions about fractional reserve banking and “flummoxed one hack,” according to Decrypt Media.
Between the novel collateral, a white paper thin on details (who is the unnamed external auditor for the stock of sardines?) and an April 1 (April Fools’ Day) end date for the sale, crypto commentators suspected SardineCoin was an elaborate prank.
CoinDesk found the MY Sardines booth at CES 2020, the long-running consumer electronics trade show in Las Vegas. And the company did present actual sardine tins and mySardines.com cards to casual passersby and attendees.
“It’s an investment [that’s] really safe,” said co-founder and CEO Charlotte Ripetti. “There’s no speculation. We have the stock of sardines and then we’re going to create the coin based on the stock.”
