I think the main issue is there is no "multi-round" crowdsale or investment cycle right now for crypto companies. So there's no "seed valuation" where a startu

I think the main issue is there is no "multi-round" crowdsale or investment cycle right now for crypto companies. So there's no "seed valuation" where a startup may be priced much more accurately based on what it's worth right then. In the ICO/crowdsale pretty much the peak potential valuation is included in the price. Kind of like if Facebook was doing its first round of investment (when it was still a site for colleges-only) and it would raise $100 billion from that first round. This model seems very flawed, because it's very hard to price a company 10-15 years into the future accurately.