Laxmicoin failed, so did Kashmir coin, if this is 'yet another altcoin' what makes it any different ?
When did laxmicoin come out? ROFL, I thought that the coin was still in development(and I hoped to see some new innovations in it), but did it fail so badly that we weren't even able to notice it failing? 
Laxmicoin failed because, it couldn't head fake active national nodes. Apart from that, they didn't have comprehensive marketing, adaption and propaganda in place. It takes country to create a Bitcoin like successful currency.