Crypto newbie here. Sorry if that is a dumb, dumb question, but what difference does it make if there's an ICO or if there's no ICO? I reckon this here looks interesting, but I can't help but wonder about the no-ICO thing.
No dumb questions - no ICO indicates that the team built the platform without outside funding, generally indicating that they are more intrinsically motivated because they believe in the idea, rather than simply making money from an ICO. Hope that helps.