Internet Capital Markets (ICMs) are a transformative development that leverages blockchain technology to democratize capital formation and investment. Unlike modal coins, ICM tokens act as early-stage equity proxies, providing a direct link between the utility of a project and its value on the chain. This paradigm shift has brought significant benefits, enabling users to access investment opportunities once limited to traditional gated markets. However, this freedom comes with exacerbated risks. The lack of regulation and the potential for smart contract vulnerabilities and fraud require extreme caution and thorough due diligence on the part of users.The future success of ICMs depends on their ability to develop robust on-chain security and reputation systems that can protect users in this new high-risk financial frontier.