But I wouldn't say there's no advantage to users-- an ICO can let the founders (a) raise funds, and (b) give them a financial incentive for the project to succeed.
So in theory, ICOs can help users win because they can lead to great products that otherwise wouldn't exist. (That said, a lot of teams/projects are total junk.)
That might be true in some cases (Brendan Eich, though?) but making your product more complex for the user just to raise easy money seems like a poor trade-off.
On top of that many ICOs seem to have unjustified valuations and reduced oversight from investors vs traditional fundraising.
But I wouldn't say there's no advantage to users-- an ICO can let the founders (a) raise funds, and (b) give them a financial incentive for the project to succeed.
So in theory, ICOs can help users win because they can lead to great products that otherwise wouldn't exist. (That said, a lot of teams/projects are total junk.)