Last year not only marked the growth of cryptocurrencies but also made way for ‘Initial Coin Offering’ or ‘ICO’. It started as an idea and soon changed into action in the blockchain and cryptocurrency segment that can be used by the firms to raise funds in a matter of hours. Over 200 coins were introduced in 2017, raising around $3.9 billion for early stage firms internationally. Already in 2018, over $4.7 billion has been raised from nearly 150 new tokens.
ICOs have also started to make their mark into the mainstream, with many large companies reporting their own ICOs in last few months. However, some regulators remain cautious about this mania surrounding ICOs. Numerous investors eroded their capital in ICO scams, while other release have given ways to illicit activity like money laundering. Even many ICOs have failed to result in the promised services. The data indicates that 46% of businesses that owned ICOs in 2017 have been unsuccessful.
Like the reaction received to anything new that enters into market, the first response to ICO from the public was skepticism. An ICO is especially scrutinized following the volume of competition. High-profile associations may have a remarkable impact on established crypto firms. One of such firms is IOTA. Most people didn’t even know IOTA, which became a popular name after it reported a partnership with Microsoft.
In the month of November, IOTA released a major platform enabling data monetization with the help of micropayments on blockchain. The data solution has by now garnered huge associations from Microsoft, Fujitsu, Deutsche Bank Telekom, Bosch, and others.
Most successful ICOs in this year are expected to report and publicize associations earlier in the development stage. Market has seen a part of this with high-profile experts, and now it’s the time to witness some Blockchain projects co-developed with leading enterprises.