Autonomous Research has analysed the trend in Initial Coin Offerings (ICOs) as an unregulated means of financing public Blockchains. ICOs have experienced significant growth in 2014-2016 with funding rising from $26 million to $222 million. Cryptocurrency Ethereum was responsible for the majority (73%) of total funding from its ICO in 2004, whereas theDAO lead with a majority (68%) in 2016. The number of notable ICOs also rose from 3 to 16 in this period.
Our second chart shows the 2015 breakdown of global crowdfunding activity. ICOs represent less than 1% of the $34 billion raised, with peer-to-peer funding making up a majority 74% of total funding. With the surge in financing of public blockchains, we expect ICOs to capture an increasing portion of crowdfunding volume.