Social media has emerged as one of the most effective ways to communicate, advertise and inform over the last decade. From the early days of Myspace to today’s burgeoning platforms, social media has evolved into a multifaceted beast. According to Statista, 2.77 billion people used one form of social media or another in 2019.
With so many people now plugged into sites such as Facebook, Twitter and Instagram, it’s hardly surprising that blockchain companies have jumped on the bandwagon. Today, initial coin offerings (ICOs) are being used to fund the next generation of social media platforms.
The History of Social Media ICOs
Mastercoin is said to have held the first official ICO back in 2013. The following year Ethereum (ETH) joined the mix, but it wasn’t until 2017 that crypto fundraisers started to gain popularity. With…