# Metadata Source URL:: https://academy.binance.com/en/articles/what-is-an-ico Topics:: #web3, #fundraising --- # What Is an ICO (Initial Coin Offering)? | Binance Academy Want to learn about Initial Coin Offerings and why many cryptocurrency projects launch their own? What is an ICO? Find out on Binance Academy. ## Highlights > [!quote]+ Updated on 150223_175256 > > An Initial Coin Offering (or ICO) is a method for teams to raise funds for a project in the cryptocurrency space. In an ICO, teams generate blockchain-based tokens to sell to early supporters. This serves as a crowdfunding phase – users receive tokens that they can use (either immediately or in the future), and the project receives money to fund development.