What is an ITO?
Our CREV Token is an ERC-20 token, Ethereum Blockchain-based. We are starting an ITO phase, not a traditional ICO.
In a traditional ICO (Initial Coin Offering), companies raise funds by promising people to use them to develop a project related to the creation of a future cryptocurrency. They sell tokens in exchange for legal money or cryptocurrency (usually Bitcoin and Ethereum) and when the ICO campaign ends, they burn unsold tokens. So, once the promised project has started, those tokens will be replaced with new cryptocurrency, listed on crypto-exchanges (it could happen that company collects the funds without starting the project).
In an ITO, however, the token used is an "utility token", a tool to access services or pay for goods. The platform is already developed as well as the project that is simply expanded and continues to evolve. The ITO phase is therefore a temporary phase in which Tokens can be purchased with a special discount or a bonus compared to the price they will have once they are listed on crypto-exchanges.