5 Best Crypto ICOs to Invest in March 2024

Table of Contents

• The top 5 crypto ICOs in March 2024
• 1. Smog – A new meme coin on Solana with a unique airdrop mechanism
• 2. Sponge V2  – The continuation of the SPONGE meme coin
• 3. Green Bitcoin – Predict-to-earn token with a staking mechanism
• 4. Dappad – Launchpad for up-and-coming blockchain projects
• 5. Ordify – A project bridging the Ordinals and EVM ecosystems
• What to watch out for when investing in ICOs
• The bottom line

Initial coin offerings, commonly referred to as ICOs, are a way for blockchain projects to raise funds for development by selling tokens to interested participants. ICOs first exploded in popularity in 2016, and have remained a mainstay of the crypto and blockchain space since. 

The top 5 crypto ICOs in March 2024

ICOs present a chance for users to get involved with up-and-coming blockchain projects at the very earliest stage. Here are 5 crypto ICOs to keep an eye on in March 2024. 

• Smog – A new meme coin on Solana with a unique airdrop mechanism
• Sponge V2 – The continuation of the SPONGE meme coin
• Green Bitcoin – Predict-to-earn token with a staking mechanism
• Dappad – Launchpad for up-and-coming blockchain projects
• Ordify – A project bridging the Ordinals and EVM ecosystems

1. Smog – A new meme coin on Solana with a unique airdrop mechanism

Smog is a meme token that’s initially launching on the Solana blockchain, with plans for an eventual expansion to Ethereum and beyond. 

Users who purchase the SMOG token on a decentralized exchange or through the project’s website can hold the token to accumulate airdrop points. Those who bridge their tokens over to the Ethereum blockchain can also stake their coins to earn extra rewards. 

35% of the SMOG supply has been reserved to provide rewards to users who collect enough points to begome eligible for the airdrop. Here is a full breakdown of SMOG’s supply:

• Marketing: 50%
• Airdrop: 35%
• CEX liquidity: 10%
• DEX liquidity: 5%

According to the team that launched the Smog project, SMOG is a meme token with no intended purposes other than entertainment.

2. Sponge V2  – The continuation of the SPONGE meme coin

Sponge V2 is the continuation of SPONGE, a meme token that launched in May of 2023 and saw a huge price spike in the first few days of 2024. Holders of the original SPONGE token were able to stake their tokens to receive an allocation of Sponge V2 tokens. 

There are several changes coming with the launch of the new version, including Stake to Earn and Stake to Bridge models, a new play-to-earn game, and more.

• Staking rewards: 43%
• Bridged SPONGE: 26.93%
• CEX liquidity: 10%
• P2E rewards: 8%
• Marketing: 7%
• Game Development: 4.47%

Perhaps the most interesting change is the upcoming Sponge P2E Racer game, which is going to be available in free and paid versions. The game will allow players to purchase game credits with Sponge v2 tokens and compete for token rewards.

There is currently little information available about the game, but the team has said that more info will become available closer to the launch. Users should also be aware that the Sponge V2 program has no formal team, and the project makes no promises about the token having any intrinsic value, as it is meant for entertainment purposes only.

As a part of the second iteration of the project, the team has introduced a new approach to token distribution, called Stake to Bridge.

In simple terms, that means that users stake the older version of the token in exchange for receiving the new version as a reward. 

3. Green Bitcoin – Predict-to-earn token with a staking mechanism

Green Bitcoin (GBTC) is a new crypto project that aims to provide an engaging and rewarding way for users to predict Bitcoin price movements, using a concept known as Predict-to-Earn.

Rather than using the energy-intensive Proof-of-Work consensus mechanism, Green Bitcoin is issued as an ERC-20 token on the Ethereum blockchain, which utilizes a significantly more eco-friendly Proof-of-Stake consensus mechanism. 

On top of that, the Green Bitcoin token itself also implements its own staking model called Gamified Green Staking. This system is designed to provide additional GBTC tokens to stakers, and those who participate in Bitcoin price predictions can increase their rewards even further. 

Token holders can stake their tokens and predict whether Bitcoin's price will rise or fall by the next day. Accurate predictions earn a proportionate share of the daily staking reward pool.

Here is the breakdown of Green Bitcoin’s planned supply distribution:

• Presale: 50%
• Staking rewards: 20%
• Marketing: 13%
• Community rewards: 10%
• Exchange listings: 7%

4. Dappad – Launchpad for up-and-coming blockchain projects

Dappad is building a launchpad platform to allow blockchain projects to to raise funds on a variety of networks. The Dappad launchpad implements an account abstraction model to simplify the platform’s user experience without cutting back on security. Another way that the project is looking to enhance accessibility is through a mobile application that will allow users to easily invest in upcoming projects.

The mobile AA Wallet from the Dappad project includes multiple features designed to make participating in web3 as simple as using the web2 platforms that are commonplace today. This includes Paymaster and ERC20 support, multisig support, a social recovery system and the ability to set spending limits. 

The Dappad platform implements a token called APPA, which will be launched on the ZKsync layer 2 for Ethereum. APPA tokens give holders the right to participate in the governance process of the Dappad protocol, pay for gas fees in the Dappad ecosystem, and unlock functionality in the project’s AA Wallet software. In addition, holders of APPA tokens will be eligible for various discounts and lower fees in the Dappad ecosystem. 

Here is a breakdown of the APPA token’s planned supply distribution:

• Ecosystem & growth: 30%
• Team: 15%
• Staking & rewards: 13%
• Liquidity: 10%
• Private round: 9.4%
• Public round: 5%
• Advisors: 5%
• Early contributors: 5%
• Marketing: 5%
• ONFT round: 1.6%
• Seed: 1%

5. Ordify – A project bridging the Ordinals and EVM ecosystems

The Ordify project is building a variety of tools for maximizing access to financial opportunities on blockchains, especially when it comes to various assets launched on the Bitcoin blockchain through technologies such as Ordinals.

The Ordify main product suite consists of a launchpad platform for up-and-coming projects, a bridge designed to provide interoperability between the Ethereum network and BRC-20 standard tokens, and a wallet that allows users to manage Ordinals and various tokens in the Bitcoin ecosystem. 

Ordify features a token called ORFY, which will have a total supply of 100 million. Initially, ORFY will be minted on BNB Chain, but a percentage of the supply will be bridged to Ethereum (ERC-20) and Bitcoin (BRC-20) latest down the line. The supply of Ordify’s ORFY tokens is planned to be distributed in the following manner:

• Private token sale round: 19%
• Liquidity provision: 15%
• Staking incentives: 12%
• Marketing: 10%
• Team: 9%
• Reserve/treasury: 9%
• Public token sale round: 7.73%
• Advisors: 5%
• Seed Round: 4%
• DAO Fund: 3.8%
• Community token sale round: 3%
• KOL token sale round: 2.47%

What to watch out for when investing in ICOs

If you’re thinking about participating in an ICO, you should keep in mind that investing is in ICOs comes with a very high degree of risk. Purchasing tokens in an ICO is one of the most speculative ways of engaging with the crypto markets, and there’s a strong chance that you will lose part or the entirety of your investment. 

Projects conducting ICOs are typically in their very early stages of development, and typically don’t have a functioning product yet. Even if the team does launch a product down the line, there is no guarantee that it will achieve success or adoption. 

Before purchasing any cryptocurrency, make sure to carefully review your financial circumstances and never invest an amount that you’re not willing to lose. 

The bottom line

There has been a resurgence in ICOs and crypto presales thanks to the cryptocurrency bull market, with new ICO projects appearing almost on a daily basis. While participating in ICOs can be potentially lucrative, it’s also very risky. 

If you’re looking to invest in the cryptocurrency market in other ways, make sure to check out our ultimate guide to investing in crypto.