The story behind crypto ICOs has been the wildest of rides. From the NFT boom we’ve witnessed, to scams and rug pulls. Writing off all ICOs based on the history would be an enormous error. If the power of empowering everyday people leads to opening even greater new opportunities, then it’s all worth it! Think of it like this: the internet in the late 90s was full of Geocities websites and dial-up modems, but that didn't stop it from becoming the foundation of modern society. Together, these new ICOs are laying the tracks for a more just and equitable future. Here’s hoping that we focus on the strong ones!

Financial Inclusion For The Excluded

How many of these people in your life are unbanked or underbanked? It's easy to forget, living in our comfortable bubbles, that billions of people globally lack access to basic financial services. Businesses like traditional financial institutions tend to shy away from these populations, writing them off as “unprofitable.” What if crypto, specifically through ICOs, could do something about that?

Projects like SpacePay, which aims to bridge the gap between retailers and crypto payments, are a step in the right direction. Imagine a world where small businesses in developing countries can easily accept crypto, bypassing traditional banking fees and reaching a global customer base. That's real empowerment. It’s more than just the speculative benefits though, it’s about being able to access a system that’s long been opaque and closed off. We could do much more to address the accessibility and usability needs of the people who may require it the most. We know that crypto has the potential to be one of the great equalizers. It should not be an excuse to open up new avenues for the rich to become richer.

Creators Reclaiming Their Value

Let's talk about artists. For too long, creators have found themselves at the mercy of these gatekeepers – whether record labels, publishers or art galleries. Instead, they all too often get paid just a small percentage of the enormous value they generate. While NFTs and crypto provide incredible opportunities to reverse this trend, the first NFT boom was, in all honesty, kind of goofy. Overpriced JPEGs hardly empower anyone.

This is why initiatives such as UNOMAI that employ NFT ticketing for events are so beneficial. Think about it: artists can sell tickets directly to their fans, cutting out ticketing companies that take a huge cut. They have the opportunity to develop one-to-one relationships with their fans and patrons, delivering unique experiences in return. This is not a simple story of wanting to make more money; it’s about the control and ownership over the content. It’s about artists having the freedom to determine for themselves how their work is valued and consumed. Mind of Pepe uses AI to create meme assets. This groundbreaking innovation gives creators unprecedented new tools to monetize their creativity. It’s about redefining the power dynamic and empowering creators with the tools they need to succeed.

Building Communities, Not Just Coins

The most successful ICOs transcend the fundraising aspect and focus on community-building. At their best, they’re about building a shared vision and inspiring people to join a movement larger than themselves.

Consider Solaverse. Yes, of course it’s a metaverse project — the metaverse hype is very much alive, y’all. However, the concept of being able to own a piece of a real world-mapped digital universe, managed by a DAO, that’s where it gets really cool. It's not just about buying virtual land; it's about being part of a community that shapes the future of that world. It’s about having a voice in what goes to the ground and how it is maintained. In the conventional real estate marketplace, access is limited. In reaping the rewards, decision-making power is almost always concentrated in a small number of powerful actors.

Consider PedroCoin, a proof-of-skills ecosystem in which holders compete in challenges. This is very similar to what gaming companies are doing. The key difference is that this time, the community is in charge — reaping the rewards from their contributions and finessing the trajectory of the project. Deep down, I believe this is the true nature of digital cooperative — and it’s an extremely powerful idea.

Many ICOs will fail. The market is still the Wild West and rife with untrustworthiness. That’s why it’s so important to have your own investigation. Look for projects with:

  • Audited code
  • Clear whitepapers
  • Strong governance
  • Real-world utility

Don't just chase the hype. Put money into the projects that are actually creating a tangible value-add and have a demonstrated pathway forward.

The key here is transparency. It seems that projects which are open and honest from the beginning about their goals, their challenges along the way, and their overall progress have the most success. The more open and revealing they are, the better chance they’ll have at gaining a robust and passionate community.

ICOs are not a magic bullet. They won't solve all the world's problems. Yet, if designed correctly, they can begin to empower everyday people in powerful and exciting ways. These initiatives advance goals of financial inclusion and empower creators. By building deep relational infrastructure, they open the door to a more equitable and decentralized future. That’s on us to champion the right projects, but to hold them accountable. As the future of crypto unfolds, we must remember that it’s more than the tech— it’s about building connections between people. It’s about creating a future where everyone can prosper.