ICO is the acronym for Initial Coin Offering. It was the fund raising process of choice of Ethereum based blockchain companies in the 2017 bull cycle. To a large extent, it was reliving the glory days of dot com boom when a business plan and firm handshake could get you millions of dollars in VC funding. A white paper and a website were enough for an ICO. Community members could buy tokens and invest in the project at an early stage. Ethereum had the first ICO and then triggered thousands of copycats. Many were out and out scams.
But many of today’s biggest projects were ICOs including Binance, Solana, and many more. The term ICO is a nod to IPOs or Initial Public Offerings in the good old days.
Degen 1: “To get funding for this cash grab, I propose we launch an ICO.”
Degen 2: “You are sooooo 2017. Let’s do an NFT drop with a one page roadmap instead. I know a great guy on Fiverr.”
Degen 1: “Great thinking! Gosh we have evolved into a mature industry, haven’t we?”
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