An ICO is an Initial Coin Offering, solely created to make the creator rich. It means someone create a Token, usually on Ethereum, with the click of a mouse. Then, he makes up a random story with lots of promises of high returns and how his idea will change the world (just like many others do each day), if only he and his 2 friends would get 50 million dollars to implement it.

An other way to describe ICOs are "unregistered securities", already banned in China and very high up on the radar of the SEC (U.S. Securities and Exchange Commission).

ICOs are a great way to turn your 100 euro into less than a Big Mac again.