An ICO, which means Initial Coin Offering, is a type of capital raising activity in the cryptocurrency and blockchain world. It is similar to an IPO in the stock market. Start-ups primarily use an ICO to raise capital and Binance was no different with their release of BNB. The Binance ICO was held in 2017. During the ICO, Binance distributed BNB tokens among different participants. These included the Binance founding team and angel investors. A total of 200 million BNB were distributed between the founding team, angel investors, and public sales. This was given as 40%, 10%, and 50% respectively.