Since the first of ICO in 2013 by J.R Willett, it has quickly captured the vast majority of investors, influencers, and cryptocurrency enthusiasts. Initial Coin offerings have become the funding base for many startups with aims at becoming a blockchain based company.
From Willett to EOS
Since Willett and co, companies have been raising sums in the millions through ICO campaigns. DAO (distributed autonomous organization) topped the bar by raising $150 million worth of ether until it later reported an attack that exploited the code behind DAO. The thieves ran off with roughly $50 million in ether.
The larger ICOs in recent history have taken full advantage of the platform to launch their thriving companies. The likes of Stratis, for instance, raised around $600,000 worth of crypto coins and more notably, Ethereum raised $16 million in 2013.
Another company that runs counter to Vitalik’s organization, IOTA, recorded a return on investment of 60,000 percent. Two other additions include Antshares, who sold 17.5 million tokens and recently Bancor raised $140million in just a few hours.
All of these companies have paved the way for a substantial rise in crowdfunding campaigns.
The massive boom of ICOs in 2017 has naturally brought the most attention to the subject. In April, the fundraising structure had a market value of $103 million, then rose to $462 in June followed by another increase to $574 million in July.
Collective data of the total value for ICOs in 2017 accounts for $3.2 billion. Along with Bancor, big projects like Tezos ($232 million), Filecoin ($262 million) and EOS ($180 million) all point to a highly profitable and efficient way of earning quick startup capital…