Early Telegram Investors Are Seeing ROI of Over 400%, but Risks Remain High as Future is Uncertain
Telegram had the sale of its GRAM tokens last year. You may remember that it was one of the most high-profile Initial Coin Offerings (ICOs) ever. The company sold the tokens during the highs of the crypto market, back in February to March 2018. If you bought the tokens then and sold now, lucky you, because you may have profited 400%. There is a catch, though.
The Telegram blockchain, known as the Telegram Open Network, will be launched on October 31. The ICO was very successful and it enabled the company to get $1.7 billion USD during the sale of its GRAM tokens. Now, tokens are being sold with a price that is 400% higher than what the early investors paid.
What is the catch, then? It is illegal to sell tokens before a platform is launched. The token is not listed on any other platforms and you can only get it at secondary markets such as over the counter desks.
This means that, despite the investors getting a profit, the buyers of the tokens may end up being burned. If Telegram decides, it could forfeit their right to the tokens as they were illegally bought. This means that the buyers are paying a very high price for what can become a useless investment since they may never get the tokens.
Another concern is that if the network is not launched until October 31, investors will be refunded. The actual investors, not the ones who bought the assets illegally.
Buying GRAM tokens now might even prove to be a good investment, but it is certainly very risky.