Seed funding is drying up. Accelerators are scrambling for revenue. Things are changing drastically in the startup ecosystem.
First, as we all know, it’s easier than ever to build a startup. An MVP can hit the app stores in a few days and the need to raise millions for servers and software is over. Second, investors want to see traction, and few will take risks on relative unknowns. So how do you raise money when your product needs more than some Django code and an AWS instance?
You run an ICO, right?
We’ve heard the hype: It’s a get-rich-quick system meets Kickstarter! You can raise millions in a few minutes! There have been hundreds of successes! It’s completely safe!
All of these points are correct. But all of these points come with huge caveats. Welcome to the strange new world of token sales. Let’s explore.