What is an ICO?
In this episode of "WTF is", we cover ICOs. What are ICOs and what are they used for?
ICO Stands for Initial Coin Offering and is a play on the popular term "IPO"' standing for Initial Public Offering. Unlike IPOs, which are for companies to list their stock on a public exchange, Initial Coin Offerings are for Blockchain projects to raise money without depending on private finances such as Venture Capital (VCs).
ICOs can be used to crowdfund, but there's also a huge profit motive driven by speculation that brings in the funding for ICOs. Because of the chance to make quick money investors are jumping at the opportunity to get a piece of these ICOs. We're even seeing some ICOs bring in hundreds of millions of dollars, often selling out in seconds.
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More of a reader? Check out our transcript of this video: https://blockchain.wtf/2018/04/series...