What Is an ICO (Initial Coin Offering)? | Binance Academy
Want to learn about Initial Coin Offerings and why many cryptocurrency projects launch their own? What is an ICO? Find out on Binance Academy.
An Initial Coin Offering (or ICO) is a method for teams to raise funds for a project in the cryptocurrency space. In an ICO, teams generate blockchain-based tokens to sell to early supporters. This serves as a crowdfunding phase – users receive tokens that they can use (either immediately or in the future), and the project receives money to fund development.