Blockchain technology can be made more efficient with an incentive mechanism using tokens. This paper proposes an innovative method of initial token offerings (ITO), allowing issuers such as the government to sponsor and implement policy targeted at specific products, projects or technology. Sponsor’s qualifications can gradually be relaxed and guided by a pre-determined process. With a combination of call auctioning and commanding price (CP) determination, the initial issue price is fixed by the sponsor and ultimately by the consensus of all stakeholders. This approach ensures that the initial token price is non-zero at launch and leaves room for revaluation in line with subsequent development of the project or technology. ITO can attract more enterprises, teams and individuals to participate in the innovation activities of critical projects or technological breakthroughs by reducing their economic costs and risks, thus accelerating project collaboration. It also combines a conducive regulatory environment and market forces to achieve flexibility and effective management of technological innovations.