Initial coin offering (ICO) investments have exploded in 2017, surpassing early venture capital (VC) funding for internet companies. Most recently, the creators of the IPFS have announced and launched their ICO for Filecoin, a decentralized storage network that will use the InterPlanetary File System (IPFS) to secure and store data. The ICO for FileCoin has already raised nearly $199 million which, coupled with the $52 million in VC investments, brings Filecoin’s fundraising total to a record-setting $251 million.