The classical definition of a startup is the creation of a new business model with the purpose of further development and money raising. In this way, as the blockchain industry has become one of the most popular, innovative areas, any brand-new cryptocurrency-related projects can give great opportunities for investments and subsequent profits. New products and services regularly attract investments by holding crowdfunding campaigns. The market of cryptocurrency startups changes so fast that it’s hard follow. However, there is big space for getting rich just by having an idea that stands out among competitive ones. So generating such an idea and presenting it to the public is what developers do before launching the Initial Coin Offering (ICO), which they use for the the development of the concept.
There are also many fraudulent projects and that is why investors should investigate any startup they are going to spend money on.