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I have always classified Monaco as one of those ICO projects where they don't even plan to actually implement the business model. Because why would you when you can just party 10 years in Ibiza with the raised ICO funds?

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You just described most iCO really.

I'm going to start one, just going to call it Ibizacoin or something.

Go for it! Honesty seems to have worked out well for the Useless Ethereum Token guy:

https://uetoken.com/

Time to start ScamCoin. Every transaction on the network will be considered a donation of which you may or may not receive some worthless ScamCoins in return.

Welcome to the world of cryptocurrency in general. It's the new dot-com boom. How did that turn out last time?

Very well for scammers and serious businesses, not so good for naive people.

There are more naive people than the other kinds.

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