Initial Coin Offering (ICO)
This concept helps you create a ‘crowd-funding’ mechanism to garner funds in cryptocurrecy form from a community to help you turn a project idea into reality. It’s basically a new way to fund-raise your business.
If you are a start-up, the process is an opportunity to raise capital and help get you off the ground, as the name ‘Initial’ Coin Offering implies.
When a company seeks to create an ICO, it creates a plan in the form of a ‘White Paper’ which states what the project is all about, among other details. Backers of the project will then start to invest in the project idea.
So if you’re looking for a fund-raising vehicle, this is most suitable.