Cryptos Evolving Past the Traditional ICOs

TALLINN, Estonia - April 27, 2020 - PRLog -- There was a time, and everyone knows this, when initial coin offerings once defined the whole of the rising cryptocurrency industry. There was a time when actual, legitimate ICOs with impressive sounding coin ideas were releasing at a very fast pace, like clockwork, and along them came the scams, and what's more is that the scams were being released alongside tongue-in-cheek jokes. However, despite all this, its premise still managed to generate over $300,000 in funding last year. In case you're not familiar though, a traditional ICO is quite similar to crowdfunding, but for a coin which has yet to have value. A startup offers this new kind of cryptocurrency to unwitting investors, accepting funds in exchange for a fixed amount of currency proportional to their respective contributions.

This type of investment platform received incredible popularity after the 2017 boom from Bitcoin where, speaking of which in December of that same year, the price shot up to nearly $20,000 each. The boom was justified in that after only a matter of months, Bitcoin went from barely noticeable, imaginary online resource to the main digital currency that set the standards for use all over the world by investors, futurists, techies, and even just normal people in general. When the ICO boom ended though, a major decline in the total value and use case of ICOs came afterward. A good example to showcase said decline is that on January of 2018, there were a total of 160 independent on-going ICOs ready to close as compared to that of October 2019 when there were none. Literally nothing.

Some analysts and critics suggest that ICOs are categorically "dead" while others say there is an upcoming renaissance in the crypto investment platform industry but no one really knows what the future has in store for cryptocurrencies. It is without a doubt that the crypto appeared in this era to set the precedence for the evolution of money but beyond that, the landscape is still ever-changing.

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Nick Santos
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