For participating in an IEO, you must hold BNB on Binance to earn tickets that will entitle you to buy IEO token.
Over the past two years, value of Binance Coin has increased multiple times. CZ, CEO of Binance has worked hard to give value to this coin. BNB forms backbone of their IEO system, Binance DEX, Binance Futures and Binance Savings.
Binance Coin goes for around 16 dollars on Binance and other exchanges at the time of writing of this article. Since there are many new products underway, we expect huge increase in price of BNB token.