Blockchain

The Explosion of ICOs

The Explosion of ICOs

It is no secret that initial coin offerings (ICOs) have rapidly grown to become one of the most popular ways for software startups to attract funding. ICOs are intricately associated with blockchain and cryptocurrency ventures, due to the fact that this is how the method first rose to fame. A YouTube channel has now tried to quantify the huge size of the ICO industry through a video that thoroughly maps out the origins of different ICOs.

The company behind this initiative is the blockchain startup Elementus. Elementus recently released a video which intends to highlight the massive size of the ICO funding industry. Put simply, this visualizes all ICOs that have been launched since the start of 2014 up until March 2018. All ICOs are showcased as bubbles, which are conveniently color-coded to allow viewers to pinpoint from which part of the world the different cryptocurrency or blockchain ventures stem. Moreover, the size of the bubbles gives some indication as to how large the relevant ICO was. The video that Elementus allows users to visualize the growth of the ICO sphere and subsequently the cryptocurrencies.

Nonetheless, ICOs are far from a new occurrence. The first major ICO was held all the way back in 2013, by Mastercoin. Following this, other large and public companies have decided to launch ICOs of their own. For example, Ethereum held an ICO during 2014, which amassed around 3,700 Bitcoin at the time, and which concurrently corresponded to nearly $2.3 million. Also, the interest for ICOs has skyrocketed following the atmospheric growth of cryptocurrencies during the last year. Most notably, the popular messaging application Telegram has raised over $1.7 billion from investors. Moreover, ICOs have on average given investors +29% during this year, even if one were to exclude Telegram’s upcoming ICO.

This year is already jokingly being referred to as the ”year of the ICO” and what’s more – ICOs have performed significantly better than their traditional counterparts during the first half of this year. Some are already saying that ICOs might very well one day replace venture capital funds, due to their effectiveness when it comes to attracting crowd-sourced funding. Although this development is far off, it is not strictly speaking impossible. ICOs allow for more efficient distribution systems, and the video from Elementus illustrates how absolutely massive the industry has grown to become. The animation can allow most to gain a significantly greater understanding of the issue and gives a sense of scale to today’s massive ICOs.

Image Source: “Flickr”

Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the cryptocurrency industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.


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