Hi All,

I'm a bit confused on the necessity of ICOs. Here is what I am trying to understand:

if you would like to create a platform on which a token represents the value you place on an answer to a question, the question is asked, someone answers correctly, the token is transferred to them, and the person who answered the question would then like to "cash out" so to speak. In order to "cash out" on this token and convert it to bitcoin, is it necessary to have previously held an ICO in order for that token to hold any value in relation to Bitcoin?

I realize my question may be a bit scrambled so thank you in advance.