- To give a brief idea of what ICO is, it is an process of raising fund for an project and the steps include making a whitepaper which contains all the details related to project so as to give token buyers an idea regarding the future sucess/failure of the company.
- A token is the CrytoCurrency that runs that blockchain Technology established by the company, and every ICO has a target which shows the minimum amount to start the project, in case ICO us unable to raise enough fund from the market then funds are returned to buyer.
- In case the ICO is sucess, the buyers of token then can sell their tokens for profit once the token is released on any exchange, or they can retain coins with them depending upon their perception for the project.
- Well ICO is not new to world but it's still new in india, since not many organization used it.
- Initial coin offering [ICOs] are emerging as new way of raising funds for startups. An ICO is based on cryptocurrencies and is a mix of initial public offering IPO and crowd funding.
- Startup Drivezy in india have managed to raise as much as dollar 200 million in a single round of funding through ICOs.
- Some other Companies attempted ICO are Belfrics that raised $2million and WandX raised around $1 million.
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