An alternative to ICOs that actually vets projects is needed. That is why Peer, a Web3 social network and blockchain company, recently announced an alternative to the Initial Coin Offering (ICO) called the Initial Coin Exchange (ICX).
The ICX provides a framework for an evidence-based fundraising standard for established blockchains and decentralized apps that promotes responsible innovation, global participation, and rapid validation.
Essentially, an ICX is for crypto companies and projects past the prototyping phase and looking for their next round of funding before seeking seed-stage investors.
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