An ICO (Initial Coin Offering) is a fundraising mechanism where new cryptocurrency projects sell tokens to early investors in exchange for established cryptocurrencies like Bitcoin or Ethereum.
ICO process typically involves whitepaper publication, token sale announcement, contribution period, token distribution, and exchange listing.
ICO peak and decline: 2017-2018 ICO boom raised billions, many projects failed or were scams, regulatory crackdowns followed, and IEOs and IDOs emerged as alternatives.
Current alternatives include IEO (Initial Exchange Offering), IDO (Initial DEX Offering), and Launchpads (Binance Launchpad, etc.).