Basically when you buy a token ICO, you are buying a debt.. some business models that emerged are:
- SCAM. They have no value or utility. The issuer pumps it and sell it for real cryptocurrencies
- Token discount. The issuer will rebuy the token in the service when the product will be ready
- Dividends distributions to token stakeholders
- Governance. The more token you have the more you opinion counts in the project
- Hybrid. Of the points above