Lately, we have seen a mass inflow of startups into the cryptocurrency world, running ICOs as a way of generating capital. However, I have also noticed that some existing companies are beginning to launch their own ICOs.
My question is, why do these companies run ICO? Is there any need for it actually? Why don't they use bitcoin if they want to enter the cryptocurrency world?
Its obviously to raise more funds for their company. Maybe they have come up with a new project and they need fundings and the best way to raised more funds is through ICO. Even gambling sites, who have a lot of funds also go to this route. So its normal and it doesn't impact the credibility of their company.
And currently, cryptocurrency is on the boom right now and people are going crazy on cryptos. So if you have a good roadmap and new unique ideas to add to your existing company, then ICO is the best way to get your project out on the public and generate investment on it.