2017: A Review of ICO’s Biggest Growth Period

In 2017, the Initial Coin Offering space had a level of unprecedented growth. $5.6 billion dollars was raised and there was an explosion of different cryptocurrencies that prompted the overall space to gain the attention of the mainstream world.

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Today, we will examine 2017 and review what led to the biggest period of growth in the ICO space and what direction it could be heading.

Two Sides of the Coin

2017 was the year that ICO’s and cryptocurrencies took the world by storm. Prior to this year though, the market remained relatively unnoticed by the mainstream world. Many have drawn parallel to the “dot.com bubble”, a period of time that saw the Internet and subsequent various websites explode in value but with many having very little tangible business models outside of having a strong user base. To this comparison’s credit, many ICO’s that came into the fold last year still do not have working platforms and are simply driven by user base alone.

On the flip side, many others have noted that ICO’s and cryptocurrencies stand to not just be a passing fad but rather a new way to revolutionize many different existing industries by way of the Blockchain. In addition, a number of projects coming into the fold already do have working platforms and are disrupting various industries. Industries such as banking for instance stand to be greatly disrupted and changed. The notion of this powerful, disruptive power of the Blockchain is partly what led to the impressive growth realized in 2017.

Maturity

Another factor that led to this impressive growth period for ICO’s was the overall maturity of the space. Instead of ICO projects being massive scams or satire projects, projects in 2017 started to consult with Wall Street bankers, lawyers, experienced developers and thought-leaders to develop legitimate and scalable businesses. This led to projects being ran in a more professional and thoughtful manner, prompting many projects to gain the attention of some bigger, institutional-level investors and resulting in high levels of funding pouring into the space. In addition, talent acquisition reached a new level, with many projects recruiting some of the brightest and talented minds in different industries all across the world.

The Future

While 2017 saw a high level of growth and marked the maturity phase of the ICO world, 2018 remains an interesting phase for the ICO world. Regulatory scrutiny has made the barrier to entry increase greatly for many projects while the market has seen a major influx of ICO’s on an almost daily basis. This has prompted some to believe that the market is in the midst of an ICO bubble. Other’s believe that the market is finally maturing and that the bad actors of the space are finally being weeded out.

The year of 2017 however will always remain an intricate and interesting part of the ICO movement. Time will tell what the future is of the ICO world but one notion remains true: 2017 brought ICO’s to the mainstream and prompted the world to take notice.

*Please note that this article is meant for informational purposes and does not constitute financial advice.

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