Has ICO Cryptocapital Exceeded Early Stage Venture Capital Funding? Yes.
William Mougayar
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There are some mysterious facts on the so called ICOs, though:

  1. In your (great) list, BAT is missing (maybe was before June). In the BAT ICO — reports said there were only 150 addresses involved. Vitalik Buterin (founder of Ethereum) actually complained on Twitter, that investors of the BAT ICO paid up to 2,000 USD worth of transaction fees to get into the ICO contract quickly enough…distorting the stats on Ethereum transaction costs…
    So — this is not a crowd. 
    Obviously enough — BAT now thanks “Founders Fund, Foundation Capital, Propel Venture Partners, Pantera Capital, DCG, Danhua Capital, and Huiyin Blockchain Venture among others” on their site.
    So — maybe ICOs are just a new process in VC overall, but not the “crowd instrument” all are claiming it to be?
  2. If you look at addresses investing into ERC20 driven ICOs (=ICOs using ERC20 standard for token creation as available on Ethereum and Ethereum Classic), you will find, some addresses tend to invest into a lot of ICOs…with 4 digit ETH invests… (e.g. https://etherscan.io/address/0xd47297cdcf36eed17305d6a5471c6cd482c7e91c)
    And there are some contracts from older ICOs (2016) that seem to be diversifying their own wealth into new ICOs (Unfortunately I lost the URL here).
    So — again — this not a crowd.

I do believe, while ICOs/token sales could be a great idea for crowd funding (if standardized in terms of due diligence, transparency of fund spending & project plans/commitments/achievements), what we are seeing in the last months/weeks is something I would call the “inner circle wealth bubble of silicon &crypto land” — there is no crowd involved, unfortunately. Not yet.

So — my proposal is a obviously to change that — and what better instrument is there than a true decentralized organization to standardize, overlook and evaluate progress of ICOs? I do not believe we are yet able to create DAOs (as in Autonomous program), but DHOs (as in decentralized human organization) are something we should really start working out with Ethereum kind of smart contracts — and create the fitting physical entities such as cooperative, foundations and/or others…

IMHO — only then can we ensure a decentralized, transparent new method of crowd funding the future progress of the crypto sphere.

…OK…I got carried away ;-)

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