Business
5 DeFi Projects That Seemed Promising But Went Under …

With over 20,000 cryptocurrencies existing in the world today, there are countless projects out there that don’t survive long-term. These crypto projects are commonly referred to as “dead coins,” which simply refers to coins that no longer have any momentum.
The reason is not necessarily what the media likes to focus on : rug pull, exit scam etc.
Reality is more complex and here are a few reasons why a project dies, but the most common are:
- Not enough funds – there have been crypto projects out there that seemed promising and were created with all the right intentions, but they ended up not being able to raise the capital needed to follow through. In fact, most projects have this problem. Investors take note of the profit margins to see if they’re up to par. If not, they look right over these projects.
- Community Disengagement – with so many projects emerging in DeFi, it can be difficult to get the interest of enough people to reach escape velocity. Once a project has it, it has to keep it through the storm of other shiny objects competing for its investors’ attention. Sometimes the community gradually slips away, enticed by the promises of the next great thing.
- Low trading volumes – If a project ends up with less than $1,000 in trading volume for three straight months, it’s considered a dead coin. Low trading volumes generally mean that a project falls short of providing utility and/or interest from traders. It’s a sure-fire path to the dead coin vault.
Let’s look at a few of the top projects that seemed promising in the beginning but ultimately fell apart for one reason or another.
1. NanoHealthcare Token (NHCT)
The NanoHealthcare Token was created in India in an effort to reform the country’s healthcare system through the blockchain. The NHCT creators hoped to improve flaws in the system, reduce high costs and improve data security practices.
NHCT aimed to take a holistic approach to healthcare and improve it through the concept of “total health.” This involved them focusing on four major parameters – mental, physical, fitness and a well-balanced diet.
The coin experienced some hype but ultimately failed due to lack of investor interest. In turn, its developers abandoned the project.
2. Paycoin (PCI)
Paycoin was among the first crypto projects out there. Launched in 2014 by respectable miners Josh Garza and GAW, Paycoin was intended to improve the Bitcoin network. The founders were well versed in the DeFi world. Paycoin saw massive growth in the beginning. With a market capitalization of $115 million in 48 hours, it quickly gained popularity.
Ultimately, the project fell apart due to a lack of security that stemmed from rushing production efforts. The founders were unable to fulfill many of their promises, which led to the downward spiral of Paycoin.
3. SpaceBIT
SpaceBIT was on a mission to be known for its uniqueness. The project involved launching nanosatellites into space that made electronic currencies accessible everywhere. The SpaceBIT team hyped up the world and made it seem as if they had all the materials needed for the successful completion of the project. Ultimately, though, they never followed through. Lack of infrastructure was the primary factor that caused SpaceBIT to fall out of the sky.
4. Ring Financial
Ring Financial aimed to aggregate DeFi protocols, and it was intended to live on the Binance Smart Chain (BSC) to keep fees low for users. The project began with a 5.56% return per day offered in tokens. From November 4, 2021, to November 23, 2021, the project saw promising growth; it went from $1 to $250 in the short timeframe.
Then came the first strike in December. After the project was verified on BSCScan, it became more visible than ever. This left it more vulnerable to hackers, which is what led to Ring’s contract being exploited in December of 2021. The project survived this hit but faced harsh scrutiny from investors. Ultimately, people began losing confidence in the project despite the teams’ efforts to save it. The project did not recover after this.
5. GetGems (GEMZ)
GetGems was launched in 2015 following a similar-named project (that ultimately failed) named Gems. The founder was Daniel Peled, and his vision was to change the social media world as we know it.
GetGems was created as a social messaging app that allowed users to send and receive bitcoin. The project managed to raise $1 million initially through crowdfunding efforts along with direct investments.
The project ultimately failed after it did not follow through on promises to change the social media landscape.
Do you have a dead coin in your portfolio?
With the dawn of the crypto winter, it’s a possibility that you could have a dead coin floating around in your portfolio. Fortunately, there are some things to look out for when determining if a coin is legitimate or not.
First, put a mental red flag up if you see a coin that guarantees a return on investment. Avoid these at all costs. Also, coins that are worth investing in will generally be listed on a trusted trading platform, such as Binance or Coinbase.
Always remember to stay informed and make diligent decisions about your investments.
Business
Spynn’s PR Playbook for Startups Turning Funding into Market Leadership

Byline: Jennyfer Ann Valencia
The recent funding boom in India, where startups raised over $428 million between March 10 and March 15, 2025, reinforces the critical role of public relations (PR) in securing investor confidence and enhancing visibility. As competition intensifies, effective PR strategies help startups differentiate themselves and build a strong market presence.
Spynn, a PR agency for startups specializing in securing top-tier media coverage, enables startups to craft compelling narratives that attract investors and maintain a positive brand image.
The Role of PR in Startup Funding
A recent survey conducted by Spynn found that startups with a strong PR strategy are significantly more likely to secure funding rounds than those without. According to the research, nearly 70% of investors say media visibility and brand credibility helped their decision-making process. This highlights PR’s direct impact on a startup’s ability to attract investment.
PR helps startups articulate their value to investors by securing media coverage and highlighting their growth potential. High-profile placements lend credibility and set up startups’ potential, making them more attractive to investors. For instance, a well-publicized success story from a startup like Zolve, one of the top funding recipients, can drive further investor interest and strengthen its brand.
India’s funding surge spans sectors including Batterytech, Edtech, Gaming, Apparel, Aerospace, Manufacturing, Fintech, Energy, and Travel. While this presents opportunities, it also brings scrutiny. Startups must manage their reputations effectively, ensuring consistency in their messaging across media platforms. As a PR agency for startups, Spynn’s expertise in reputation management helps businesses navigate these challenges by maintaining a cohesive brand identity and reinforcing investor trust.
Establishing Credibility Through Media Placements
Research from Spynn also revealed that startups that get featured on Forbes, Business Insider, and other top-tier publications experience a 50% increase in inbound investor inquiries within six months. This shows the value of securing strategic media placements to reinforce credibility and market positioning.
Strong media coverage bolsters a startup’s credibility, reinforcing its market positioning and investor confidence. Spynn ensures startups secure coverage in authoritative outlets, helping them establish themselves as thought leaders. Beyond initial publicity, Spynn focuses on building long-term relationships with media, ensuring sustained visibility and brand consistency.
Spynn’s CEO, Matteo Ferretti, emphasizes the role of storytelling, “Effective PR is about coverage and creating narratives that resonate with audiences. Startups must highlight their unique value and demonstrate how they solve real-world problems.”
PR for Growth and Global Expansion
Spynn’s data indicates that startups leveraging international PR strategies are twice as likely to successfully attract foreign investors and expand into new markets. Media coverage tailored for global audiences enhances cross-border recognition and facilitates partnerships, making PR an essential tool for growth beyond domestic markets.
As Indian startups scale, a strong PR strategy facilitates global recognition. Spynn’s international media reach helps startups gain traction in new markets and attract foreign investors. This is especially crucial for sectors like Fintech and Edtech, where global expansion is key to success.
A well-executed PR strategy strengthens a startup’s digital footprint, ensuring a consistent and engaging presence across platforms. Matteo Ferretti highlights the importance of balance, “A successful PR approach integrates both digital and traditional media to maximize impact and audience engagement.“
Ethical Considerations and Future Trends
Transparency and ethical storytelling are vital in PR. Startups must ensure authenticity in their messaging to build lasting trust. Spynn upholds ethical PR practices that align with principles of sustainability and integrity.
Indian startups must adapt to evolving PR trends, including AI-driven outreach, digital media dominance, and deeper media relationships. As competition grows, startups that take advantage of PR will have a better standing for long-term success.
Spynn’s PR strategies equip Indian startups with the tools to navigate funding surges, enhance credibility, and drive growth. By securing impactful media coverage and managing reputation effectively, startups can strengthen investor confidence and expand their market presence. As India’s startup ecosystem evolves, PR remains an indispensable asset for sustained success.
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