VC's ready to jump to the ICO train

As Forbes reports "The model of quickly trying to raise startup money from venture capitalists is fast being disrupted by cryptocurrencies. Rather than wait for outside investment, many startups, particularly in the esports and gaming spaces, are now turning within for the funding they need to build.

The idea is startlingly simple; the company creates its own cryptocurrency and then offers investment in that coin through an Initial Coin Offering (ICO). These ICOs are quickly replacing traditional VC funding  models, effectively cutting out the middle man by allowing companies to raise their own funds directly.

In the first half of 2017 alone, start-ups have raised a record $1.27 billion, selling stakes in cryptocoins, according to research from Autonomous.

The trend does not seem to be ending any time soon, with prices of existing cryptocurrencies continuing to excite potential investors as the market reaches new record highs. On November 2, Bitcoin breached the $7,000 mark for the first time."
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