While the ICO hype has cooled off since 2017, some innovative crypto projects continue to leverage token sales as a fundraising model. These ICOs are driven by strong teams, solve real-world problems and showcase promising blockchain technology.
This article explores the top 10 upcoming or recently concluded ICOs in 2022-2023 that appear most legitimate and have long-term blockchain potential.
1. Aptos
Aptos is a layer-1 blockchain that raised $350 million from investors like a16z for its mission of fast, secure payments and DeFi. Built by ex-Meta developers, Aptos aims to be the safest and most scalable general purpose blockchain.
2. Acala
Acala plans to launch a Polkadot-based DeFi hub for trading crypto and stable assets. They raised $400 million through their IDO, indicating strong interest in their vision of a decentralized finance ecosystem and EVM compatibility.
3. Chainflip
Chainflip’s algorithmic NFT marketplace brings transparency and fairness to artists. Their $525k raise shows the promise of their vision to enable creator royalties and prevent wash trading.
4. Immunefi
Immunefi facilitates bug bounties and security services for blockchain projects. Their $5 million raise validates the need for security solutions tailored to crypto’s unique risks.
5. Fabwelt
Fabwelt is building a social NFT platform and metaverse focused on music and entertainment. Their €1 million raise shows investors are betting on the digital future of fan experiences.
6. Sei Network
Sei is developing a CeFi-DeFi hybrid exchange with sophisticated trading tools. Their $15 million raise suggests strong interest in their vision to «Make Crypto Easy».
7. Creo Engine
Creo Engine raised $4.1 million for their carbon-negative blockchain and P2E game. Investors are betting on the web3 gaming niche, while supporting ecological sustainability.
8. Sylo
Sylo hit their $10 million cap for building an ecosystem of decentralized communication tools on Sylo Smart Wallet. User privacy and data rights are front and center.
9. Foreignant
Foreignant facilitates global remittances using stablecoin rails. Their ~$1 million raise shows investor appetite for bridging crypto and payments for financial inclusion.
10. Safle
Safle enables users to securely access and manage DeFi and NFTs from one ID. Their $10 million raise underlines the need for simplified web3 onboarding.
Key Takeaways
ICOs allow projects to raise capital by distributing crypto tokens that may appreciate based on the project’s success. Investors should evaluate ICOs on team merits, blockchain utility and real-world applicability beyond mere speculation.
The most promising ICOs solve concrete problems in payments, DeFi, NFTs, gaming etc. while advancing crypto/blockchain technology meaningfully.
Conclusion
The ICO model continues to provide capital for promising crypto projects, despite regulatory concerns. Investors should do proper due diligence instead of relying on hype and FOMO. Backing strong teams working on meaningful blockchain solutions seems a prudent strategy rather than gambling on dubious projects. The above ICOs check many of the right boxes in terms of innovation, execution and real-world impact potential.