An ICO is a fundraiser where people give you crypto tokens worth money to create a dAPP or smart contract. It is similar to Kickstarter.

The smart contract can earn a profit and pass it through dividends for token holders or through increased valuation of the token. ICO really has nothing to do with companies or firms as legally registered entities but is ownership in a completely automated piece of software which exists distributed on a blockchain. So in the case of an ICO, ownership means control.

If you're asking about my opinions of real estate, I would say REITs are better for me because I like liquidity. I also see REITs as a lot less risk. If you just want the dividends why do you care about control of the company?

Owning the rights to the profit is the path to financial independence not owning control and voting power.