Token sales are happening every week now, it seems. I knew they were going to be important, just not this fast. I think we’re still in the first wave where there’s a mix of true believers, legitimate programs and a bit of scamminess.
When TechCrunch runs an article explaining how to do your ICO, you know there’s edging closer to the middle of the early adopters.
Further, token sales are not a funding vehicle. While many companies treat them as such — and crow over multi-million-dollar raises that explode in minutes — what they are really doing is floating a cryptocurrency on the open market. With a lot of planning and a lot of luck, these cryptocurrencies can rise in value and, if the token sale is structured correctly, this gives companies a little bit more funding than they had before they started. Without planning, you get a mess.