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Isn't the ICO a fundraising structure for the company? It has nothing to do with their product (which is the API/integration platform).
by m1sta_ 9y ago
Isn't the ICO a fundraising structure for the company? It has nothing to do with their product (which is the API/integration platform).
- eridius 9y agoBut the way ICOs work is you offer a token that people pay you for. If your token doesn't actually have any purpose whatsoever, then there's no reason for anyone to buy it.
- wmf 9y agoY'all are both right. Some tokens are (theoretically) required to use the app and some tokens will (theoretically) pay dividends like stock shares.
- psyence 9y agoTokens are more than that. They are not only fuel for apps (see: Ether), and "stock shares" that generate dividends (see the "stock split" of Bitcoin Cash and Bitcoin; see also Digital Developers Fund, Metal, and Etherroll, which has already PAID dividends to token-holders), tokens are also mechanisms for self-governance within an organization, required as a proof-of-stake to vote for the decisions the business is going to take (see DistrictOx0. Put more simply, tokens are a new asset class with the best of the old asset classes plus new, upgraded features from the new internet of blockchains. For being on the y-combinator board some of y'all sure are slow seeing the gravity of the disruption.