I believe that ICOs are changing the way companies get funded forever. It's a way for early-stage companies to raise capital without the gatekeepers, constraints, and manipulations of traditional markets. ICO's are going to be a huge part of the democratization of traditionally elite industries like Venture Capital.

Early stage companies are about as high risk/high reward as you can get. ICO's offer this opportunity directly to the general public instead of just a few wealthy investors that supply VC's with capital.

With that said, only a small % of ICO's will be massive industry leaders, and many are little more than scams. That's why due diligence is extremely important in this space.