Author: Reuben Jackson / Source: Big Think
In many industries, the more outlandish ideas end up in the trash but in the world of crypto, breaking away from mainstream ideas and conventions is welcomed.
The cryptocurrency community tends to foster the weird. In many industries, the more outlandish ideas end up in the trash but in the world of crypto, breaking away from mainstream ideas and conventions is welcomed.
The crypto market is also seeing a lot of activity now with more than 1600 digital coins currently on the market.Therefore, in this world, the weirdest cryptocurrencies often manage to become extremely successful. Here, I’ll look at some of the weirdest crypto projects that exploited their quirks to achieve unlikely success.
1. Dogecoin
Probably the most successful weird cryptocurrency out there. Touted as “an open source peer-to-peer digital currency, favored by Shiba Inus worldwide,” Dogecoin was founded as a joke in 2014. It is based on the Doge meme, a Japanese Shiba Inu dog captioned with various internal monologues. Dogecoin has been a runaway success, reaching a market cap of $1bn in January of this year.
Part of Dogecoin’s success is due to its vast and vibrant community, members of which created the Dogecoin Foundation, a nonprofit organization dedicated to using Dogecoin to fund goodwill projects. In 2014, the Dogecoin Foundation raised enough to send the Jamaican bobsled team to the Winter Olympics. It also funded the development of two clean water wells in east Kenya via a Twitter campaign.
2. Potcoin
Potcoin was started in 2014 as a way of solving banking problems for the legal marijuana industry. The industry generally operates on cash trades in the US, due to federal drug laws regulating the banking system.
Potcoin is not the only marijuana-themed currency. However, it gained notoriety due to its sponsorship deal with basketball star and unlikely North Korean diplomat Dennis Rodman. In a PR stunt, Potcoin funded Rodman’s trip to Singapore for the June 2018 summit between President Donald Trump and North Korean dictator Kim Jong-Un. Rodman was filmed walking around there wearing a Potcoin t-shirt, leading…
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