Recently, Ryan Zurrer, founder of Dialectic Group, expressed his views, stating that next year will usher in a new era for ICOs, known as 'ICO 2.0'. What will this so-called ICO 2.0 look like? (Background: The founder of Doodles hinted at launching a token 'Token Is Coming', causing the NFT floor price to surge by 89%) (Background: $PENGU airdrop frenzy: One fat penguin NFT can claim over $80,000, and Solana and Ethereum OG wallets can also claim) In 2017, led by Ethereum, ICOs (Initial Coin Offerings) surged explosively, becoming a hot spot in the cryptocurrency market, attracting billions of dollars in global investment. The low entry barriers and rapid fundraising characteristics led to the emergence of countless blockchain projects. However, as the market overheated, regulatory gaps widened, and fraud cases became frequent, investor confidence wavered, and the ICO bubble ultimately burst in early 2018, with nearly 90% of projects failing. Nevertheless, due to limitless innovation and opportunity, that period is often referred to by the older generation of the crypto community as the 'most nostalgic era'. Further reading: Where have the tokens that disappeared over the past 10 years gone? From failed ICOs to a lack of market interest. Will ICO 2.0 make a comeback in 2025? Recently, Ryan Zurrer, founder of Dialectic Group, stated on his X platform and Coindesk that he believes that with improvements in global regulatory policies and market maturity, ICOs (Initial Coin Offerings) will enter a new era, known as 'ICO 2.0'. This time, it will be significantly different from the past ICO model, benefiting from three core characteristics: Updated regulatory stance. Ryan Zurrer believes that future regulatory policies will be clearer, focusing on ensuring market transparency and stability. For example, KYC and AML (anti-money laundering) policies will concentrate on the flow of funds, such as exchanges and cross-layer bridging tools, which will help reduce market risks. At the same time, he emphasizes that the accumulation of token value will become the core reason for investment, fundamentally changing the previously vague compensation mechanisms and establishing a better balance between regulation and the market. Market model transformation. He also mentioned that medium-sized enterprises are expected to gain new life through adopting decentralized models, especially in the media sector, incentivizing citizen journalists through token economics. This not only enhances professional standards but also improves business models, allowing user participation to translate into real value. This model will open a new path for traditional industries. Technological and community advancements. Compared to the rough operations of early ICOs in 2017, the current cryptocurrency ecosystem has achieved qualitative leaps. User-friendly applications, active community participation, and the transparency of decentralized ledgers have allowed the market's self-regulatory capabilities to surpass those of government regulatory agencies. Zurrer emphasizes that publicly transparent decentralized ledgers bring higher efficiency to the industry, which is an important cornerstone for the steady development of ICO 2.0. Most importantly, the community has demonstrated extraordinary capabilities, able to publicly expose absurdities and eliminate bad actors, far surpassing government regulation. The transparency of open decentralized ledgers serves as a particularly effective disinfectant. ICO 2.0 vision: Traditional enterprises issuing tokens and merging with various crypto companies. Ryan Zurrer predicts that decentralized capital formation is entering a new peak. He expects that the scale of ICO 2.0 will far exceed the $20 billion allocated during the ICO 1.0 phase from 2017 to 2018. He forecasts that in the coming years, areas like DeFi, NFTs, and RWAs will attract hundreds of billions of dollars in capital, driving the continuous upgrade of the crypto industry. Zurrer emphasizes that merger and acquisition activities will become an important part of future on-chain capital formation, with various Ethereum Layer 2 solutions integrating. He predicts that as the market matures, there will be billions of dollars in merger cases reshaping the industry ecosystem. Whether it's traditional companies seriously engaging with crypto and reclaiming lost ground, such as the transaction between Stripe and Bridge, or Ethereum Layer 2 solutions coming together, recognizing that only a few can survive and become significant, we will see billions of dollars in merger activity in the coming years. Additionally, he mentioned that mid-market Web2 and traditional companies are gradually utilizing token incentive mechanisms for transformation. For example, companies in the energy, media, and arts sectors are improving their value chains through decentralized models, quickly attracting customers and reducing operational costs, demonstrating the powerful potential of token economics. Notably, Zurrer is optimistic about Regenerative Financing (ReFi), which combines capitalism with charitable missions, bridging the gap between reasonable returns and social goals. He also mentioned that ICO 2.0 will create more balanced participation opportunities for retail and institutional investors through reputation-based selection methods or specific qualification verification, promoting more transparent and equitable financing practices. Related reports: Multiple NFT projects are warming up! Mocaverse floor price surpasses 2.9 ETH, daily increase of 79%. Fat penguin NFT floor price hits record high! Starting at $122,000, the community is frantically calling for a $30,000 airdrop for PENGU. 'Fat Penguin' announces the launch of token $PENGU and public tokenomics. FTT holders can also claim airdrops, NFT floor prices surge. "Opinion: Next year's 'ICO 2.0' will make a comeback, with traditional enterprises issuing tokens and crypto companies merging becoming a new wave." This article was first published on BlockTempo (the most influential blockchain news media).