www.icostats.com launched today. A website that simply compares token prices by initial price and current price. Neat to see. The site does not list many tokens yet and is still in alpha.
ICO stands for Initial Coin Offering. Investopia describes it as: “An Initial Coin Offering (ICO) is an unregulated means by which funds are raised for a new cryptocurrency venture.” It´s a bit like an IPO but way more unregulated. And currently even more profitable than any other way of getting crowd funded. It seems that all you need is a good marketing campaign and a couple of pages for a white paper. People will buy every coin they can find. Usually implemented as ERC20 Tokens of the Ethereum platform, ICOs are spreading like mushrooms. Tokens act as some kind of value on the platform the offering company is planning to build. Often times it feels as if the only reason to choose blockchain technology was to make use of ICOs and the outlook for quick free money. But to be fair, there are also really cool projects that make a lot of sense. But it´s hard to keep an overview.
How to keep track
There are various sites trying to keep track of every new sale. Some like ICOalert even try to make money by providing due diligence for the upcoming sales events. ICOIndex offers free info and links.
I want in!
A lot of the times ICOs are also a lucrative investment option. Short term at least. After the ICO is over prices often double or triple before they bounce back to somewhere around the initial price. Making a quick buck seems to be too easy to be true. But it´s all about timing. The “good” ICOs sell out in less than an hour. You have to be there and be a bit lucky to get your share of the cake. Afterwards the question arises: “HOLD or sell?”. You decide. It´s a lot of fun at least.