Initial coin offerings (ICOs) are decentralized fundraising events hosted by Web3 start-ups to pull funds from investors to develop decentralized economies and virtual currency infrastructures that boost DeFi adoption. Recent studies indicate that hosted ICO events have overtaken venture capital firms to become the main fundraising methods for cryptocurrency start-ups.
ICOs pull money from investors but also help Web3 economies to develop decentralized communities while still in their early development stages.
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