Merit believes in proof over storytelling and sales. To us, it is important to have working software and a real community before anything else. Most ICOs, on the other hand, work to ascribe a value to a currency long before value has been created or proven. This is dangerous because it front-loads the capital that these organizations raise, and create awkward incentives around growth and committment. Finally, Merit believes that sustainable organizations are built on organic growth. Instead of a huge and compressed hype cycle, a lasting organization is built on the momentum that comes through iteration and a powerfully committed community.