The first recorded token sale (also known as an ICO) was held by a group known as Mastercoin in July 2013. It was based on Ethereum and raised money with a token sale in 2014 which went on to raise 3, 700 BTC in its first 12 hours, which in monetary terms would be equal to approximately $2.3 million at the time which was astonishing and lit the flame for all future ICO’s.
So when did ICO’s really take off?
ICOs and token sales started to become popular early in 2017 when people has seen the possibilities behind the blockchain system. It had taken a while for Investors and entrepreneurs to get to grips with how to work with this new technology. Some of the Worlds Largest corporations started to invest heavily in employing experts and forming teams to explore the possibilities which this type of system opened for them
There were at least 18 websites tracking Blockchain ICO offerings before June of 2017.
In May, the ICO for a new web browser called Brave generated about $35 million in under 30 seconds.
By October of 2017, ICO coin sales worth $2.3 billion had been transacted during the year alone, and more than ten times as much as there had been in all of 2016.
As of November 2017, there were around 50 offerings a month, with the highest-grossing ICO in January 2018, being Filecoin raising $257 million (and $200 million of that within the first hour of their token sale).