Investment Management
ICOs Fund the Development of New Currencies Dikisten
2. Total Funds Raised by Month (US$ Millions): Angel and Seed Stage
1. Approximate Funds Raised by ICOs by Calendar Year (US$ Milllions) intamet VC versus ICO
$4,000 5 900 mu Angel & Seed VC Funding (Internet) a ICO Fundraising 839
$3,500 - $3,461 800 |
700 | $3,000 -
fo2) Oo ao
$2,500 -
$2,000 -
$1,500 -
Total Funds Raised ($Mn)
$1,000 - 200 -
$500 -
Approximate Annual Funds Raised ThroughICOs ($mil)
$222 100; 5
$26 $14 $0 -
2014 2015 2016 2017 YTD
TH16 8/16 9/16 10/16 11/16 12/16 1/17 2/17 3/17 4/17 5/17 6/17 TAIT 8/7 O/17
" New blockchain-related projects are funded via an Initial Coin Offering (ICO). This process raises capital through token sales.
" In an ICO, the object offered is either a new digital coin or a yet-undeveloped concept in search of funding. ICO investors purchase an ownership percentage of a future money supply or functionality.
# While many ICOs support legitimate use cases, Autonomous Research asserts, “unfortunately, many ICOs are fraudulent. ””!
" Rather than raising fiat currency, ICOs primarily raise capital in the form of Bitcoin and Ether, driving additional demand for the cryptocurrencies.
(1) #Token Mania, Autonomous Research, July 2017.
Source: Investment Strategy Group, Bloomberg, Goldman Sachs Global Investment Research, Cryptocompare.com. 9
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