Token sales, often called Initial Coin Offerings (ICO), are exploding in popularity. Seemingly each week a new record is hit with huge sums being raised by alpha-stage projects in almost no time. William Mougayar, an investor, author and blogger, who has been at the forefront of the token sale movement joined us to unpack the most dynamic trend in the blockchain ecosystem. We cover the great promise of token sales in disrupting venture capital and changing how startups are build and grown. We also address the apparent irrationality of valuations and what distinguishes a responsible from a reckless token sale.
Topics covered in this episode:

The current state of the ICO market
Issues with recent ICOs such as BAT, Bancor and Gnosis
Why more attention needs to be paid to the relationship between token and application usage
How one should think about token valuations
Whether we are in a bubble or not
How VCs are responding to disruption through ICOs

Episode links:

Startup Management Blog
"The Ultimate Reading List for Blockchain, Token and Cryptocurrency Sources"
"Tokenomics – A Business Guide to Token Usage, Utility and Value"
Raising Tokens to Build a Company or an Ecosystem?
Business Blockchain on Amazon
Vitalik Buterin on Token Sale Mechanisms
Buyer Beware – AVC
Token Summit YouTube Channel
Token Summit Website
Thoughts on the Bancor Token Sale

This episode is hosted by Brian Fabian Crain and Sébastien Couture. Show notes and listening options: epicenter.tv/188