An IEO should only be conducted for companies that already have P/E ratios (but aren't publicly traded yet) really, and not as a hype mechanism for shit new projects who overpromise but don't deliver, but that's not the point here.
Coinbase has nothing to do with this company, nor has this company anything to do with coinbase...?
I reckon it's fair for companies to IEO when they have P/E ratios, but it's been overhyped and spammed too much to be seen as legitimate.
Right. I just checked and the average price for one year registration of an .IO domain is around $25-$30, which means $125-$150 for 5 years. If you can't even afford that when you are trying to raise multi millions, you're pretty much broke af, and you signal that it may fail in its first year.
What they want you to do is fund their idea, if it fails you lost your money, while they walk out with a lambo and whatnot because they obviously won't put everything you gave them in their project. You're lucky if they even invested 25% in their project. It's just a get rich quick scheme. I'm however glad that the ICO/IEO craze seems to be over.
I reckon they put in 1-2k on their website, designs, buying followers, domain and hosting, and other fees (whitepaper, etc). It's either a scam now or something that hasn't been finished, and I wouldn't be interested in the project that doesn't have anything on the site(team, mvp).