ICO (initial coin offering) is the phase where the developed coin is being offered to the investors,most of the time if the ICO hits the softcap the project would have a clear path in the future,but hitting hardcap would be better as the developers would have a lot of funds to be use in the development of the coin,most of the ICOs nowaways are being created because of the money,so we need to be careful of picking these ICOs.