Icos look for bounty hunters to promote their project through the power of social media.Sometimes, some of these hunters also double as ico investors. But it looks like bounty hunters understand ICOs project and are able to determine very good projects before they invest because of their experiences in different projects.
I think every bounty hunter already an ICO investors but using indirect approach.
Every bounty participant investing their time to promote the ICO project to be known by the public.