Initial Coin Offering, or ICO for short, is a system where in a startup would initiate an “initial coin offering” to bypass the capital requirements of building a business. In this set-up, funds are being raised in order to start a new crypto currency venture. What happens in an initial coin offering system is that startups would first write what their project is all about and it is usually sealed as a protected document, and they will offer crypto currency to those who wanted to help them out. Supporters and enthusiasts of the project who wanted to help the startup would have to buy their crypto currency, usually with legal tender or another set of crypto currency. Startups have to reach their goals because if they failed to do so, the project will be marked as unsuccessful, and they have to return the money from those who supported their project. On the other hand, if they are successful, they could go into another round of ICO or just use the money to start the project.
One ICO that managed to make history was Monkey Capital, as it became the first crowd-sourced crypto currency. Daniel Mark Harrison, the founder of Monkey Capital, has sold options long before the funding round begins. Monkey Capital’s options are called COEVAL, and they have been sold to traders who managed to attend their event, or given to close friends and family members. The project by Daniel Mark Harrison has been deemed as having a bright future ahead, as people started rating it with perfect five stars. Using the fund that they will be receiving through Monkey Capital, Daniel Mark Harrison has stated that they will divulge into creating futuristic products that will change society forever.
Monkey Capital has all-star teams which have the appropriate skills needed to dominate the industry. During the initial introduction of COEVAL, chatrooms and virtual spaces have begun discussing the potential of Monkey Capital, and it has been reported that in just a few number of hours, pledges of support for the project has already reached $1 billion, making it the fastest selling ICO to date.