The idea is basically to give ICOs and other crypto projects a place to talk about crypto, advertise it, and create content since Twitter/Facebook/Google are banning crypto ads and hiding/flagging social posts related to it.

They had an ICO, but they didn't hit their cap and maybe made a couple million which is only like a years budget in a very modest business then tried to launch it anyway. They paid like 200k for a HitBTC listing and however much they spent going to summits and buying booths with all of the convention shit and probably paid their own salaries after it ended as well. They also had quite a bit of internal drama with how the funds were managed recklessly like this (there are way more reputable and cheaper exchanges with more humans to list on than HitBTC) and rightfully so, so the CEO (Sean Kirtz) left but that's basically what this is now.

Tokens are very cheap now. They're struggling a bit with development and community. This would be a perfect project for a backend dev with ipfs knowledge to get a hold of because of the extra ICO tokens and cheap price. Most of these guys are just butt hurt because they paid $1 per coin in a failed ICO that costs a cent now on the market because 150k tokens got distributed in bounties before listing day, plus hitbtc bots and there is not much for a community.