Business Today

Token of Risk

Initial Coin Offerings are all the rage, but while a few soar, many others crash and burn.

The rewards can be huge, but so are the risks. When blockchain platform NEO launched its Initial Coin Offering (ICO) in end 2017, it had each 'coin' or 'token' priced at $0.03. Those tokens are now trading around $73.25, which amounts to a gain of 2,46,067 per cent in a few months. Yet Cryptonetix, a digital currency which held its ICO around the same time, has since seen a 95 per cent loss of value. The problem is that while ICOs are much the same as Initial Public Offerings (IPOs), in that they are both intended to raise

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