An Initial Coin Offering (ICO) is one of the major utilities of cryptocurrency, which enables projects or companies to raise capital by offering new cryptocurrency in return, investors purchase in a hope that the price will increase in the future. The adoption of crypto has already started. The Crypto community is growing, currently, around 22 thousand but most of them have already flopped or are dead. For the industry to flourish more projects are needed. First-wave ICO gave rise to many big projects and the number of ICOs was low but with its popularity, many developers came forward with their ideas to raise funds. Second-wave ICO saw a rise in the decentralized launchpads. PinkSale is one of the most popular launchpads to hold a presale in the Binance Smart Chain (BSC) ecosystem. Initial Dex Offering (IDO) replaced ICO, many projects successfully raised capital to start their venture.
Launchpads are easy to use, and investors can find new ICO projects easily. There was hype and FOMO in the market. Investors rushed to invest in any presale project they could find. As fundraising was made easy by Launchpads the number of projects too increased in the presale. Scammers too found opportunities so they raised funds from the launchpad and rug pull after the presale. There is no figure available to check the number of scams from ICO. The figure is horrible but nobody is talking about it. Nobody seems to care or take any measure to reduce the number of scams.
If no measures or steps are taken to stop the scam at the ICO level the crypto community will find a hard time getting adoption on a large scale. ICO is much more than hype or FOMO. Crypto is a wonderful technology and is at its early stage. More ICO will be coming in the years to come. Another big project is yet to be born. Remember ICO is a high-risk high-reward investment. Crypto has just started and in the coming days, we will see many presales so the ICO bubble has yet to burst but will never stop. Developers will find it more difficult at the same time investors’ safety will be enhanced.
ICO to this date has a huge potential to multiply your wealth. But it’s really hard to find a gem as the market is too overcrowded. Investing in ICO is not gambling, most investors gamble in ICO. Research is important before investing, even legit-looking projects are turning out to be a scam. Research is needed before investing.
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