I think you are a little bit off here, Token sales and ICOs are the same mechanism and the degree…
Felix Köhler
1

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.