Initial Coin Offering is one of the innovative use cases of Blockchain, enabling startups and naive companies to raise initial capital for their business ideas with potential. However, this now-famous mode for crowdfunding overcame a number of technical and functional ambuguity in the system, leading to inundating rise in its acceptance.
The rise in popularity of ICO can be estimated from the fact that the funds raised for cryptocurrency Initial Coin Offering (ICO) projects in the fourth quarter of 2017 amounted to 2.8 billion U.S. dollars. (according to Statista)
Launching an ICO to raise funds is an approach that's followed by businesses, irrespective of the domain they belong to (finance, payments, data storage, media & entertainment etc.). Through this infographic shared below, we highlight the slow and steady progress that ICOs have made, resulting in growth opportunities for business.