Augur co-founders Jeremy Gardner (second-from left) and Joey Krug (second from right) gather with ... [+] their founding team. Instead of going home, the 12-year-old Krug deposited $20 of birthday money into an off-shore book, and placed a bet. To pay for all this, over a 45-day period in the fall of 2015, Augur ran the first-ever initial coin offering (ICO), in which tokens were issued on the ethereum blockchain. But this was the very earliest days of what would come to be known as the ICO craze. Think of it as a DAO of dapps, among the first of a new kind of companies without bosses.

Source: Forbes July 28, 2020 22:02 UTC