I think you are a little bit off here, Token sales and ICOs are the same mechanism and the degree…
Felix Köhler

Agree. The ICO Gold Rush of 2017 was present, when we started to work on this article.

Today I would write it different. STOs and ICOs are both mechanisms to raise funds, distribute coins/tokens. However they can vary a lot in terms of regulations, taxation, use cases, professionalism, tradeable, marketing and team.