TON/Gram whatever it may call is not going to be an ICO for the public, its a way for TON early investors to exit without having conventional IPO. The coin may well have sound value once released if there is a use for it within Telegram, otherwise its just another Coin with no redeeming features other than name.

On a more positive note, NuCypher is totally different gravy, if they can deliver what is being pitched, its groundbreaking with application far beyond cryptoland. The only question is, how do they do it, will it work and how will they prevent a hundred clones. It may be essentially a centralised/trusted party model to function.