Bitcoin, Cryptocurrency And Blockchain News

Twitter Mishap: Waltonchain Employee Grateful After Winning Token Giveaway

Valentine's Day proved to be a disaster for Waltonchain


Waltonchain caught the attention of investors with its idea to integrate blockchain technology’s features into Radio Frequency IDentification (RFID) chips to create a “business ecosystem” of Value Internet of Things (VIoT). The platform was co-founded in 2016 by Do Sanghyuk and Xu Fangcheng from Korea and China respectively. All was well in the blockchain community until the launch of Waltonchain’s giveaway for Valentine’s Day.

The campaign ran until February 27th 2017 and was fairly straightforward – retweet their campaign tweet, tag your valentine and add a custom hashtag to the tweet. 214 winners were to be announced on Twitter, who would each receive 2.14 WTC. Five of these random winners would receive an additional amount of 21.4 WTC.

But on February 28th, a Waltonchain employee accidentally used the official account to notify followers that he / she had won the giveaway as well. Although the post has now been deleted, the image has been retweeted by many people.

The company posted an apology as well as a video explaining the selection process. The announcement explained that from now onwards, Waltonchain employees won’t be allowed to participate in any campaign.

Many followers jumped in to support the company by appreciating its efforts on partnering with ‘big names’ including NIDS Sensor technology and “intellectual property discovery” platform Loci, among others.

But there were many who pointed out that the video had no timestamps or in any way proved that the selection process was completely random.

Despite the criticism, Waltonchain posted another announcement regarding its partnership with the coffee brand Ishijah. However, they have slowed down updates on social media – even their website displays news of the updated logo and team visits to Welfare centers from earlier in February.

According to CoinMarketCap, WTC was trading at $22.41 on February 28th and fell as low as $17.60 the next day. At the time of writing, it has risen to around $19.12, with a market cap of $476 million.