An ICO (initial coin offering) is a means of raising funds for a new cryptocurrency venture. In an ICO, a quantity of the crowdfunded cryptocurrency is sold to investors in the form of tokens. These tokens are promoted as future functional units of currency if or when the project launches. One of the most successful ICOs to date is the Ethereum project.
Trezor users interested in emerging cryptocurrencies should be careful. The regulations surrounding ICOs differ from country to country and the risk of scams is relatively high.