Angelium, the so-called “blockchain based cross reality” platform could be taking a big risk working with PlusToken, who have been reported to be operating a Ponzi scheme scam ripping off customers to the tune of nearly $3 billion.
Founded by DJ and music producer Rio Takeshi Kubo and developed by Brett Hartshorn, a 3D artist from the 90s hit movie “The Matrix”, the Angelium (ANL) blockchain is built on the premise of using excess hash power generated from mining to render and stream graphics, in a so-called Proof of Rendering consensus.
The idea is that people can generate their own ‘human-realistic’ avatars on Angelium and use these in its virtual reality worlds and experiences, including intimate encounters with adult entertainment industry performers, in an interactive experience that the company hopes will completely reshape the way people consume media.
But Angelium may be playing a risky game with an alleged new partner it has signed with – South Korea-based PlusToken – a blockchain-based project which is making headlines for all the wrong reasons.
So far, reports allege that PlusToken has defrauded investors out of $2.9 billion, pulling off a reported exit scam after convincing investors to put their money into its crypto wallet app.
News reports said that in June, PlusToken customers said they were unable to withdraw their crypto from the PlusToken wallet, with alleged technical reasons being reported as causing withdrawal delays.