Skip to Content

Kickstarter Says It Won’t Follow Indiegogo Into ICOs

Although Indiegogo has announced that it will branch into initial coin offerings, also known as ICOs, do not expect crowdfunding giant Kickstarter (KICKSTARTER) to do the same.

“The answer is 100% a very firm no,” a spokesperson for Brookyn-based Kickstarter told digital currency news site CoinDesk when asked whether the company would follow its San Francisco based rival’s lead.

Kickstarter, which is listed as a public-benefit corporation, has raised over $3 billion for creative enterprises since it launched eight years ago. Although that is far more than Indiegogo has raised over a similar period, it falls short of the $3.8 billion in financing Coin Desk says has ICOs have generated so far — most of it in the last year.

For more on ICOs, watch Fortune’s video:

Kickstarter did not elaborate on why it would not get involved in ICOs, but the unregulated capital raising instruments have long been regarded as speculative and high risk.

Meanwhile, Indiegogo’s first ICO starts this week. It aims to raise $5 million for a Fan Controlled Football League that allows people who buy its coins to draft players, hire and fire coaches, and call plays in real time.