With just a few days to go until the Royal Wedding, it's no surprise that a lot of people are trying to cash in on this event. And that includes crypto speculators as well. I recently ran across a story about the new ROYL coin being issued to commemorate the Royal Wedding. It's not backed by "the crown," but it is backed by a British publication called Crown & Country as well as a charitable organization called The British Monarchist Society and Foundation. They are calling it "the world's first royal-themed cryptocurrency."
Personally, I think this is the type of stunt that gives crypto a bad name in some circles. I get it -- some people like to invest in special commemorative coins. Nothing wrong with that. But at least those coins have some intrinsic value, right? In a worst case scenario, you could melt them down and sell them for the value of the metal. But with the ROYL coin, what are you really getting? I hate to use the "s" word ("scam"), but I just don't get it. Check out the # of views on YouTube - this video has less than 100 views. If you ever plan on selling your ROYL crypto, who exactly is going to buy it from you later? The first thing on my mind is always market liquidity.
That being said, you're free to check out the ROYL cryptocurrency site yourself - they have a whitepaper and plenty of celebrity endorsements. They also promise to donate a portion of any proceeds to royal charities. But as for me, I think that I'll be sitting this one out. I'll watch part of the Royal Wedding, of course, but I won't be lured into buying any royal cryptocurrencies.
CREDITS:
British pound image via Pixabay
ROYL cryptocurrency screenshot via RoyalWedding.io
