There is an important distinction between most tokens and shares - shares mean direct ownership in a company, tokens don't. If you had shares in Company X and

There is an important distinction between most tokens and shares - shares mean direct ownership in a company, tokens don't. If you had shares in Company X and it got acquired, you would be entitled to a share of the sale price. If you have tokens in FileCoin, EOS, whatever - and they sell the underlying company or IPO - your tokens might have appreciated independently of that, but you get 0% of the underlying company sale. So a company issuing tokens, compared to VC funding, is essentially getting free money with few strings attached.