The Fate of the Biggest ICO Era Projects: Then and Now

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by Giorgi Kostiuk

2 years ago

Made with AI

  1. EOS
  2. Telegram Open Network
  3. Tezos


    4. During the initial coin offering (ICO) era, many significant projects were launched. However, not all of them survived and remained relevant.

    EOS

    At the peak of the ICO era in 2017, Brendan Blumer and Dan Larimer proposed a new ultra-fast blockchain — EOS. Block.one completed a yearlong ICO in 2018, raising $4.2 billion. However, Block.one got sidetracked with other projects, leading to the creation of the EOS Network Foundation in 2021. In May 2024, the EOS Network Foundation announced a new token model with a fixed supply. As of August 2023, EOS has a market cap of $770 million.

    Telegram Open Network

    Russian brothers Pavel and Nikolai Durov planned to create the Telegram Open Network (TON), but the project was not launched due to an SEC ban and the need to refund investors. Later, the Durovs created 'The Open Network,' and independent developers launched the Toncoin currency.

    Tezos

    Tezos, headed by Arthur and Kathleen Breitman, offered a 'self-amending' cryptocurrency. However, soon after the ICO, internal conflicts arose between the Breitmans and Tezos Foundation president Johann Gevers. In June 2024, the company released an updated roadmap 'Tezos X.' Despite all challenges, the project continues to operate.

    The ICO era left a mixed legacy. Not all projects achieved their goals, but some continue to develop and operate in the market.

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