eosBLACK is a token in the EOS mainnet and it is the token with the highest market capital among all EOS based tokens. If you check out the tokens page in EOS block explorer Bloks.io, you will see it in the top #1 spot. At the time of writing this post, eosBLACK’s market capital was 0.2023. The contract address of this token is eosblackteam.
I don’t see any rational reason for that high price except for speculation. I recently posted a thread about it in the r/eos subreddit but didn’t really get any reasonable response from anyone from the eosBLACK team or token holder. If it is the top #1 token, shouldn’t it have a presence in the biggest eos related online community which is r/eos?
The thread was trending in the second place for a while. If the eosBLACK team was active on r/eos, they would have surely noticed it. One pro eosBLACK redditor stated that those who buy it will get airdrop tokens of projects funded by eosBLACK. But his comment far from making any reasonable assertions. He was attacking “westerners” for being ignorant about it while not referencing any credible information.
eosBLACK doesn’t seem to have funded any project so far which could be airdropped to eosBLACK holders. And the price seems entirely speculative. Most EOS airdrop tokens have gone down the drain and lost significant portion of their market value. Some authors have even called airdrops a failed strategy. I myself is not a fan of projects funded using the airdrop method and have spoken against it.
People are generally not incentivized to hold tokens they got for free. And the uncertainty of a project’s success makes it tempting to dump airdropped tokens into the market. Generally, more than 50% of the startup projects fail. So, it’s fairly reasonable to assume more than 50% of the projects funded by eosBLACK will fail.
So, my conclusion is that eosBLACK’s current market value is entirely speculative and a very high risk investment. The eosBLACK community may find my comments on their project a little distasteful but I don’t care. If you guys want your project to be worth over 200m it should have at least something of real use that somewhat rationalizes the huge market capitalization.
[Note: This article was written before the Trybe hack and at the time of writing this post, eosBLACK’s market capitalization was 200 million US dollars.]