BMW has not partnered with CarVertical

CarVertical, an ERC20 Ethereum token claimed that they have undergone partnership with the BMW group. This happened few days back and rose the CarVertical token’s price from 0.0025 dollars to 0.005 dollars within 3 hours. However, today, the BMW confirmed on twitter that they do NOT have any partnership with BMW. This is exactly how you destroy your corporate reputation. BMW tweeted, “BMW has not entered into a cooperation/partnership with CarVertical. The company is using our BMW CarData interface available to any third party.”

So all CarVertical was doing was using BMW’s publically available data – data that is available to anyone, including you and me. This is a scam and people were scammed. The CarVertical team made full use of the hype to dump their useless ERC20 tokens onto innocent people.

It is quite funny that the CarVertical’s PR team posted photos weeks before of them posting at BMW dealership and were strongly giving hints towards a partnership between CarVertical and BMW.

This is why you do not claim partnerships without having one. This backfires. Infact, all partnerships that the ICO based companies announce are not real partnerships. It is just a customer-client relationship. Next time if someone claims a partnership, find out the nature of that partnership and if it is something that anyone can get, then it does not mean anything.