ICO

/ aɪ-si-oʊ /

noun

ICOs Initial coin offerings – also called token sales or crowdsales – are an unregulated, fast, high-risk, and commonly Ethereum-based crowdfunding mechanism for early-stage digital asset ventures. In ICOs, funds are raised by offering investors cryptocurrency tokens which act as a kind of voucher that may be traded for some resource or special feature of the venture in the future (e.g. storage space, datasets, etc.), in exchange for legal tender or other cryptocurrencies. ICOs might also sell investors royalties or a right of ownership to the project instead of cryptocurrency.

"The shitcoin ICO was a complete scam."