Blockchain based startups are taking advantage of the mature crowd funding model to raise capital without giving up on equity and termed it as ICO (Initial coin
offerings) or token sale .The pace of ICO offerings continues to quicken. CoinDesk, estimated that blockchain companies raised $327 million since the beginning of this year. The same publication calculates that ICOs are now outpacing traditional VC investment in the Blockchain space. Non blockchain companies like KIK
messenger is taking advantage of the phenomenon and offering token sale to create their own ecosystem and virtual currency.

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