Initial Coin Offering (ICO)
What is an ICO?
“Initial coin offering (ICO) is an unregulated means of crowdfunding via use of cryptocurrency, which can be a source of capital for startup companies. In an ICO a percentage of the newly issued cryptocurrency is sold to investors in exchange for legal tender or other cryptocurrencies such as Bitcoin. The term may be analogous with ‘token sale’ or crowdsale, which refers to a method of selling participation in an economy, giving investors access to the features of a particular project starting at a later date.” -Wikipedia
An ICO, allows investors to support new initiatives using cryptocurrency and principles of crowdfunding. During an ICO’s crowd sale, participants purchase project-specific cryptocurrency tokens (or “ICO coins”). Although ICOs represent a very new fundraising strategy, they’re starting to replace venture capital as the first place entrepreneurs and other business owners look for funding. According to CoinSchedule, ICOs raised over 2.7 billion dollars so far this year (2017).
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