[alexasmyths]

"What real world value? What does that even mean to have "real value"?"

The credibility of their business to generate future profits as decided upon by investors who investigate their markets, the credibility of their team and execs, etc. etc..

Most ICOs are done because those companies would not stand a chance at raising actual money - by people doing real due diligence.

Doing an ICO is in fact, a pretty string signal that there is something not good about the situation.

In Kik's case, well, they have maybe 3 million daily actives, and it's slowly dying, nearly zero revenues. Can't do an IPO. Should make you wonder about putting money into a currency that is dependent on their 'ecosystem'.