ICOs Are Becoming More Popular Overtime
ICOs have grown in popularity over time with the first ICO occurring in 2013, with only two projects taking place in the year. The number quadrupled to eight launchings in 2014, which raised a total of $30 million. Fast forward to 2018, and ICOs have gained significant momentum boasting a total amount raised of $4 billion globally. The funding mechanism has emerged as a new alternative type of crowdfunding and capital raising among blockchain-related companies.
A hybrid approach of combining venture capital (VC) funding and ICOs is also emerging as a valid funding alternative. As the concern and skepticism of criminality in the ICO sector persist, taking on the dual approach may be a novel route to ensure that the projects being funded are not scams.
U.S., Singapore, and the U.K. Are Leading the ICO Movement
The U.S., Singapore, and the U.K. are currently leading the world when it comes to ICOs in volume. They have closed over 157 successful ICOs with another 153 ICOs planned before the end of 2018.