Too Long; Didn't Read
Perhaps by now a lot of the dumb money has been put into the ICO market and subsequently vanished? We are now seeing smarter money move in, thanks to institutional and sophisticated investors, which will force a change in ICO structures, marketing and expectations. I, for one, am overjoyed by these developments, because the pumpers and dumpers of this world represent terrible business practice. The ICO as a mechanism for creating new competitive companies delivering value is an exceptional one. However, true to form, human nature has led to the exploitation of something that is useful, because it is a lot easier to exploit than create real value. With new smarter money coming in, ICOs in the future will need to dance to a very different tune by proving they are the beginning of a new competitive business — and not purpose built for a once in a lifetime sale.