There's was no ICO. Private sale was funded by VCs. In July 2018 U Network started a buy back program, they want to buy back 1000 ETH worth tokens.
The Ultimate Decentralized Content Valuation & Publishing Platform. It is a prediction market and publishing protocol that helps online content platforms better align with the interests of their users. It does this by rewarding content creators more for their work, by letting users earn money for predicting popular content, by making it easier to discover high quality content, and by allowing all users to be part of content moderation and governance decisions.