TL;DR Breakdown
• The crypto company 3KEY identified as a scam.
• Manchester City researchers found no data on the agents running the crypto platform.
The Manchester City football club recently announced that its partnership with crypto company 3KEY is suspended after failing to agree to terms. The sports club has doubts about the crypto platform’s effectiveness, so backed out of activating the deal.
Since last week the sports club had mentioned its possible partnership with 3KEY as part of its integration into the crypto market. However, after an exhaustive investigation into the businessmen who control the company, it was confirmed there was no information about them.
Manchester City on the change of heart
This potential partnership between Manchester City and 3KEY was announced on November 12 through the official website of the sports club. The sports firm spoke about its looming participation in the cryptocurrency market, which brought encouragement among crypto enthusiasts. The club even mentioned possible crypto developments, virtual events, among other news.
However, before signing the contract with 3KEY, the club’s agents investigated the crypto company partners. Amid the investigations, the club found that there were no reviews online for the supposed managers, which helped determine that it could have possibly been a fraudulent enterprise. In recent times, a lot of crypto companies have gone on to be branded as illegitimate, a scam, or untrustworthy.
The Manchester City manager on Twitter liked to talk to some agents who ran the crypto company, but it was impossible because they did not find their data online. This series of signs led the club to believe the company may have been a fraud.
The only information about 3KEY can be seen on its website. 3KEY supposedly offers DeFi projects for enthusiasts and companies affected by cryptocurrencies. The website design is dominant. It looks professional but lacks information about the developments they offer.
Entrepreneurs believe that when a crypto platform offers high profitability it is possibly a scam, and they were not wrong. The good thing was that Manchester City did not lose a penny of investment due to never agreeing to work with the supposed crypto company.
Manchester football club launches fan token via Binance
On November 11, Manchester City made its first Fan Token available from the Binance crypto platform as part of its new virtual projects. The Fan Token named CITY opened on the exchange through the BEP-20 network on the Binance Smart Chain Blockchain. This Fan Token is inspired by the virtual currency that Porto FC recently launched.
According to reports, the Fan Token will be available until the first week of December.
