Public ICOs are a type of crowdfunding that is available to the general public. Because almost anyone can become an investor in a public offering, it is a democratized form of investing. However, because of regulatory challenges, private ICOs are becoming more viable than public ones.
The introduction of cryptocurrencies and blockchain technology has aided the growing popularity of ICOs. ICOs raised approximately $7 billion in 2017. The figure nearly doubled in 2018. Telegram, an instant messaging service provider, has completed the largest initial coin offering (ICO) to date. The UK-registered firm raised approximately $1.7 billion in a private ICO.

A Public Initial Coin Offering (ICO) is a fundraising method used by blockchain projects to raise capital from the public by issuing and selling their native cryptocurrency tokens. In a public ICO, the project team sets a predetermined token price and opens the sale to a broad audience, allowing individual investors to participate. Participants typically buy tokens using established cryptocurrencies like Bitcoin or Ethereum.

Public ICOs provide an opportunity for early supporters and the general public to invest in a project, becoming token holders and potential beneficiaries of its success. Investors receive tokens in proportion to their contributions, and these tokens often grant access to the project's platform or services.

While public ICOs can be an effective way for projects to secure funding and build a community, they also come with regulatory challenges and risks, such as fraud and market volatility. As the cryptocurrency space evolves, regulatory frameworks are being developed to address these concerns and provide a more secure environment for investors.