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There is a second benefit.

Right now the crypto space is like the entry point of an MMORPG. Picture a bunch of dollars entering and then walking around and trying things. "What do I do here?" "How do I play?"

Obviously it's bubbly but that's not the point. The point is that all this new money entering the crypto space is looking for something to do.

Putting out an ICO will attract some of it. It is not accessible in any other way.

... and unfortunately ICOs and crypto have sucked a lot of the air out of conventional crowdfunding, equity crowdfunding, and small time angel investing. So crypto is where the money is and you have to go crypto to reach it.

It's dumb but markets are not rational.