[Kadin]

This is basically correct. If the thing you're buying gives you a claim on the future profits of an organization, it is probably a security under US law.

If the thing you are buying has only its intrinsic value, then it is a commodity.

An example would be a baseball card (intrinsic value only) vs. a card that entitled you to some fraction of that baseball player's future income over the course of their career. The latter isn't really something that exists, although it probably could, but if it existed it would probably be some type of security.

[tomjakubowski]

There's a company called Fantex that teamed up with pro athletes to do just that. https://en.wikipedia.org/wiki/Fantex

[Frogolocalypse]

> a card that entitled you to some fraction of that baseball player's future income

I think i have an idea for a new ico....

Call it : sportico!

[luka-birsa]

We're at a stage where if you have an idea for an ICO, it's probably already funded. This is a great example - SportICO already exists and it's called SportyFI - https://icomagazine.com/sportyfi/. Raised 5M USD during the ICO.

[Frogolocalypse]

And here i thought i was being clever...