(Bloomberg) -- Everyone from Paris Hilton to Floyd Mayweather seems to be making a foray into the world of digital currencies, and it's getting pretty weird.
More than $2 billion has been raised this year through initial coin offerings -- a crowdfunding method that allows startups to make big bucks fast by selling digital tokens -- even with regulators from the U.S. to China trying to slow or halt the practice amid allegations of fraud and unbridled speculation.
One project, Synthorn, is raising money through an ICO to "help measure demand for synthetic rhino horn aphrodisiac pills." Socialite and businesswoman Hilton is backing Lydian tokens, a cryptocurrency issued by advertising company Gravity4 Inc., whose founder, Gurbaksh Chahal, was sentenced to a year in jail after beating his girlfriend. Even Burger King is reportedly trying its hand at creating its own cryptocurrency, which is called exactly what you would expect -- Whoppercoin.
ICO Alert, a website that tracks token offerings, lists nearly 200 ICOs in the next four months, along with many other offerings that are in progress or have already ended. Here are some of the more unusual ones:
- Westerostoken: A virtual coin for buying Game of Thrones paraphernalia. The project's website claims that Jon Snow is the largest holder of Westerostokens, and says Daenerys Cryptoborn holds the director of marketing role.
- TulipToken: Reddit and Twitter users can use this coin to tip cryptocurrency skeptics -- a way of "rubbing naysayers' face in digital tokens," according to the token's website. Those who are worried bitcoin is in a price bubble often draw a connection to tulip mania, a period in the 17th century during which the price of tulip bulbs skyrocketed and then collapsed.
- Christ Coin: A token that incentivizes churchgoers by offering a reward for "simple acts of daily devotion to knowing Christ more intimately."
- DigiPulse: A coin to fund a cryptocurrency inheritance service, which strives to ensure that the digital tokens of the deceased are passed on to their rightful inheritors.
- XPlay: A cryptocurrency that supports an artificial intelligence driven adult entertainment network, which allows users to trade content and stream live shows.
- BattleDrome: A gaming platform that allows players to create "Warriors," which can be traded, trained and entered into battle on the Ethereum network. Winners are rewarded with FAME tokens.
- Dentacoin: A token that incentivizes dental patients to leave reviews after their appointments. The coin can also be used to pay for dental treatments.
To contact the reporter on this story: Lily Katz in New York at lkatz31@bloomberg.net.
To contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Dave Liedtka, Andrew Dunn
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
