[frgtpsswrdlame]

That's the point isn't it? A company is offering this to raise money but doesn't actually give anything away? Then where is the value coming from? It's all based on herd mentality and trying to buy the first ticket on the free money train. ICOs are pyramid schemes, the sad thing is that there's a bunch of smart, young internet types falling for it.

[creeble]

I don't think they are technically pyramid schemes either, as pyramid schemes require multiple levels.

I think it's just fraud: taking people's money with no intent or ability to return anything.

[wwwv]

The answer is a little unfortunate, even though things are said to be worth $xxxxM market cap, but the depth of the market is so shallow that the true value is near zero.