Demystifying ICOs — What Are They and Why Are They Important?

[Story written by By Faithful Avan-Nomayo especially for Trudex.io]

According to figures released by several financial watchdogs and news outlets, Initial Coin Offerings (ICOs) raised a total of $1.27 billion in the first half of the year 2017. Even the biggest neophyte in the financial market will consider that figure to be impressive. To illustrate this point further, ICOs only raised only $26 million in 2014. What this means is that in the space of a little under 3 years: ICO capital raising potential has increased by approximately 5000 percent. There’s never been any tradable asset that has experienced such growth as is currently being seen in with cryptocurrencies.

Bitcoin and Ethereum had a significant impact on payment processing and computing technology. ICOs are essentially a new form of crowdfunding that makes these and many other types of projects possible. Startups seem to favor the ICO route rather than implementing the mainstream venture capital path. So much so that ICOs have now become the prominent way to raise capital for new enterprises. Such is the appeal that ICOs in this modern era have raised huge amounts of money in incredibly short time frames. For example, when Brave launched their ICO earlier in the year, it raised $35 million in about 30 seconds.

Read further in our blog -> https://trudex.io/demystifying-icos/