Before a cryptocurrency is made publicly accessible for trading by anyone, it must first go through a token sale. There are other forms of token sales, but an initial coin offering is perhaps the most well-known (ICO). Early adopters and investors can buy a new cryptocurrency token through an initial coin offering before it becomes available on global exchanges. The investors in ICOs are frequently required to take particular actions, such as locking up a portion of the tokens they get.
In the beginning of every new cryptocurrency, token sales are a crucial mechanism. Token sales enable developers to attract investors to their projects at an early stage as the number of tokens on the market increases.