An ICO or an initial coin offering is a form of funding through cryptocurrencies. Here, new projects sell their tokens in exchange for Ethereum or bitcoin. It is quite similar to the popular initial public funding where people purchase the shares of a company. Well, a token often gives access to the product that a certain company wants to bring to the market after getting the funds they require, often known as a utility token. It can ideally act as a virtual asset or a digital representation of the material.
An initial coin offering can be very tempting, but it calls for a lot of work to start one and successful. According to reports, over 80% of ICOs are deemed to be scams. This calls for a proper strategy if you are going to be launching one.