Recent news of the imminent closer of many Chinese exchanges is the direct result of them dealing in ICOs, I've been shocked for the longest time other countries have done so, allowing ICO's to fly under regulators radar, however its only just a matter of time.
I see ICO's like crowdfunding for games, in the begining people made games for fun, them business emerged and later because of all the burocracy of business people started asking for funding to make their own thing. The music industry also has a similar background, history is repeating itself, ICO's are the new crowdfunding platforms.