The Rise of Cryptocurrency
It’s a Friday evening in July 2010, and you’ve just had a romantic dinner with your wife. On your way back to the car, you pass a man who asks for some spare change. Feeling generous, you toss him a flash drive loaded with 10 Bitcoins. “Hold onto that,” you say, “could be worth a lot one day.”
Excited, the man heads to the library to check out the value of the life-changing gift you’ve just given him. His jaw drops as he sees what his Bitcoins are worth. A whopping $0.80.
“Dirty cheapskate,” the man mutters as he tosses the flash drive in the trash.
Fast forward to today, and that trash can would be worth about $150,000. Whoops.
Indiegogo’s First Initial Coin Offering Raises Over $5 Million
Bitcoin’s famously volatile price aside, it seems the hot new trend of 2018 is cryptocurrency. And Indiegogo, one of modern crowdfunding’s founding fathers, is getting in on the action.
Indiegogo announced in late 2017 that they’ll begin featuring Initial Coin Offerings (ICOs). The first of which is the Fan-Controlled Football League where coin “owners” will get to vote on everything from the team’s uniforms to actual in-game play calling. They’ll even be able to fire the coach.
Say what you will about the challenging logistics of such democratic decision making, but for sports-obsessed fans, it’s a really cool idea that’s already raised over $5 million via crowdfunding.
When it comes to ICOs, so far legislators have acted more like an elderly house pet than a fierce guard dog. They’re keeping a sleepy eye on ICOs, but currently haven’t added many restrictions. But as initial coin offerings become more popular, that will inevitably change.
What’s The Future of ICOs?
With ICOs and cryptocurrency in general, we’re either in the budding twilight of a revolutionary transformation that will forever change not only crowdfunding, but the world’s financial markets as a whole.
Or we’re at the top of the final loop of a rollercoaster, poised for a few more fleeting moments of unbridled excitement before the joy ride’s over.
With ICOs, as in life, you’re really faced with two main choices. You can play it safe and sit it out – or you can buckle up and enjoy the ride.