SO, you have most likely heard of ICOs (Initial Coin Offerings) and how they are all the rage. Of course there are a whole lot of ‘doubters’ and ‘naysayers’ expressing opinions that these “coin things” are a fad, cryptocurrencies are in a bubble, they are scams and even more trash talk. BUT, it seems a few others with some pretty super credentials are just now getting involved. Like Mark Cuban, Mike Novogratz, Abigail Johnson (Fidelity) and a lot more. Spoiler alert to doubters; ICOs are here to stay and change how capital is raised. Yeah, and that Wright Brothers flying machine will never amount to anything.
“ICOs have enjoyed their best run ever, albeit it’s a new phenomenon in recent time. The last six months have seen the ICO market leave traditional funding mechanisms in their wake. Will ICOs become the preferred mechanism for entrepreneurs of all shapes and wallet sizes? It seems so.
“The Midas touch boys are moving in as they know a good thing when they see it. And they don’t like to miss out.”
It can come as no surprise to me to see billionaire moves by Mike Novogratz who placed 10 percent of his wealth into crypto and Mark Cuban who has announced his own ICO of Unikrn, a sports betting business. And there will be more to follow.
ICOs coming of age
Some are calling ICOs into question, demanding regulations and government intervention, others see it at a big scam. But ICOs are attracting a lot of interest from very successful entrepreneurs who are turning their back on banks as a source of capital that becomes very expensive, with its high fees and lots of strings attached.
“The involvement of the Billionaire Boys is the sign that ICOs are not only becoming mainstream but also a legitimate alternative capital market for already successful entrepreneurs.”
Is this the extra endorsement needed where Bill Gates who has already said if he would start a new business today it would be in AI on the Blockchain?
Are records about to be broken, again
With Bancor, Status, Block One and others that have easily passed the $100 mln mark, are we likely to see soon the first billion dollar ICO?
Enter stage left, Gurbaksh Chahal who certainly has the Midas touch when it comes to backing the latest technology and is already disrupting global advertising with his AI marketing engine Gravity4. He wants to launch the largest ICO ever breaking the $500 mln plus mark, and who would be against him?…”
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