ICO and IEO are for raising funds, what about bounty? To create awareness around the web to get more investors right? This makes it two ways for projects to gain investors, I would have said ' why do new projects need bounty hunters for then' but bounty hunters are playing a big role here as you can see that's why we keep seeing bounty campaigns from IEO projects, although not all of IEO cares about bounties
Bounties are for raising cheap awareness for free. I think people don't like saying it but it's true. For the most part. Bounties when done well are really good for spreading viral awareness and getting quick user onboarding but that's only if the idea's really good and there's a product ready to use. Not often the case at all for IEOs.