ICOs Raised $4 Billion in 2017, But Can They Topple it in 2018?
Without a doubt, 2017 has been a fruitful year for companies that have raised funds through Initial Coin Offering (ICOs).
Aside from the exponential increase in the number of token placements, ICOs have also raised a staggering four billion dollars.
In just a single year, the ICOs proceeds and performances have skyrocketed as much as forty times from 96.3 million dollars in 2016.
It is not surprising that there are now about 180 new and upcoming ICOs to launch this 2018. This is according to the current ICObench listings.
- 40 x up from $96.3 million in 2016
- 180 new and upcoming ICOs in 2018
There are several reasons as to why ICOs have received a resounding success in 2017. One of which is how cryptocurrencies and ICOs have exploited the flaws of the conventional funding methodologies. In the end, ICOs have gone through a credible maturation process in 2017.
These ICOs have learned how to legitimize themselves. In the process, they started recruiting former Wall Street traders and bankers, Blockchain developers, and even experienced lawyers. They have learned how to adapt to the constant changes in market expectations. Even Emma Channing, the CEO of ICO advisory firm Satis Group, remains bullish about ICO market this year
“I am however bullish about the ICO market long term as a funding mechanism for emerging growth companies akin to the role of high-yield debt for public companies…”
The year 2018 is seen as a potentially better year for ICOs. They are no longer in the infancy. This new year is also seen as a year where the institutional money will continue to gear towards ICOs and cryptocurrencies at a faster pace.
In short, ICOs are expected to continue to gain traction and even dominate the Blockchain-based companies that are aiming at fund-raising in 2018. Channing further explains that ICOs will continue to emerge as viable funding mechanisms for firms.