ICOs, initial coin offerings, coinsales, tokensales.

A rose by any name.

They are the hot topic of today. Companies that could not raise a cent of venture capital have been raising millions in ICO money, oftentimes with only a product roadmap — basically a promise to build a product.

Experts have warned against an impending crypto and ICO bubble — but that topic is for another discussion yet.

Today, we ask: Should we consider money raised from an ICO as fundraising, or should these be considered revenue.

Also read: Stop blaming the blockchain, crypto and ICO community, but rather join and help them

On one hand, “fund raising” in the investment point of view means there should be exchange of equity involved.

Also, any money that your raise without selling a product or service can be considered fundraising.

However, on the other hand, a token sale could be considered selling a product or service in advance, given the tokenised nature of ICOs and blockchain companies.

What are your thoughts?