If you went to a Seed fund and tried to pitch them your idea (whitepaper) with no working prototype 99 out of 100 times you wouldn't get any funding. After you have your MVP then they will start asking you for traction. Again 98 out of 100 times not getting any funding.
Here you can raise a tremendous amount of capital, given that the majority of seed rounds are $500k-$3MM, and with an ICO entities are raising tens of millions of dollars to build something that again has no actual working mvp to show usage.
Doesn't really seem like a sound investment ;)
Tokens have already been in use for a long time with chat sites, I suppose if one of them decided to re-create their tokens on the blockchain and offer an ICO they could make more money during this period than actually operating their service.
At least that would have some basis in reality in that there is an existing site that is generating revenue, profit, and visitors.
Here you can raise a tremendous amount of capital, given that the majority of seed rounds are $500k-$3MM, and with an ICO entities are raising tens of millions of dollars to build something that again has no actual working mvp to show usage.
Doesn't really seem like a sound investment ;)
Tokens have already been in use for a long time with chat sites, I suppose if one of them decided to re-create their tokens on the blockchain and offer an ICO they could make more money during this period than actually operating their service.
At least that would have some basis in reality in that there is an existing site that is generating revenue, profit, and visitors.