Initial Coin Offerings versus VC Financing

Curr­ently, the trend towards Initial Coin Offe­rings (ICOs) is parti­cu­larly noti­ceable, which is why many are alre­ady predic­ting an immi­nent extinc­tion of venture capi­ta­lists. Do start­ups still prefer VC funding because it is smart money, i.e. the respec­tive inves­tors addi­tio­nally contri­bute their exper­tise, their network and partly also their repu­ta­tion, or will the run on Initial Coin Offe­rings intensify?