Initial coin offerings (ICOs) have become a popular way for startups to raise funds through their blockchain projects. It is estimated that more than $4 billion was raised from ICOs last year! This number is expected to raise during this year. So far, there are more than 30 ICOs that resulted in more than $1 billion in funding. We believe that this trend will continue and 2018 will become even bigger year for ICOs and blockchain projects.
There is no denying that ICOs have gained the interest of many people and companies. It is sure that the era of ICO and blockchain will stay for a long time, due to many successful cryptocurrencies like Bitcoin or Ethereum.
ICO (Initial Coin Offering) — an unregulated way of raising funds for different cryptocurrencies; a crowdsale where companies release cryptocurrencies with a goal to attract many participants as well as to raise their funds.
For the past couple of months, everyone is talking about ICOs. You can find many articles regarding ICO or blockchain on many social media channels, forums, debates, and people are talking how they can raise funds and launch a successful ICO project. If you are looking forward to participate in ICO or to launch one, here you can find out some important tips for achieving that:
Determine your goals precisely
As any other campaign or project, so does an ICO has its goals, ideas, and objectives. If you launch an ICO, you have to explain more about your project and its goals. This is usually done through whitepaper and roadmap. This both reports can attract many participants if they are correctly written. The whitepaper is a document that explains more about the ICO, the problem they want to solve, their goals, objectives, plans for the future, etc. The roadmap is a document that explains the timeline of your ICO’s activities, from project developement to its launching, and each stages of the project are written there.
Create a strong team
All successful ICOs are composed of professionals who are dedicated in the project and have knowledge and experience needed to launch an ICO. Your ICO will increase if you build a group of highly qualified professionals, people who are interested in ICO and blockchain technology, individuals who are committed to establish a successful and profitable ICO project. It is important to include resumes of team members with their social media accounts on your website, so that the people who are interested can see more about your team in order to gain more confidence and trust in your ICO.
Prepare a pricing plan
Your ICO plan will depend on your end goals and expectations. This tip is very important for you as well as for people who will participate in your project. There are some basic ways of preparing a good pricing plan:
- Undetermined price — the price is not set yet and the potential participants receive some amount of tokens for their contribution to your ICO.
- Fixed price — the price is fixed and participants can buy tokens, but they can trade them only after a freezing period.
- Dutch auction — first tokens are the most expensive, and the price is decreasing over the investement period.
- Price Rise ICO — participants will get the best possible price for your tokens.
Activate all social media marketing channels
Nowadays, social media is a huge influencer when it comes to digital marketing. It is important for your ICO to be promoted and published on many social media channels, such as Facebook, Telegram, Twitter, LinkedIn, Youtube, as well as the crypto-based channels such as Bitcointalk or Reddit. This type of promotion will help your project to expand so that more people can see and learn more about it.
Write and publish a proper FAQ and Help Center
It is necessary to have a comprehensive FAQ or Help Center when you start your ICO, and to make it available for anyone to see. Link it on your website, Facebook, Twitter, Telegram, etc. because people will always ask the same questions. This way is easier for you and for them to understand the whole project.
Test your project before launching
Yes, you have to test your system before you step up in the ICO world. You have to make sure that everything is OK with your website, emails, whitepaper, social media channels, designs, etc. Clean up all small issues and make your team ready and able to handle all real problems.
Run a presale
A presale is the process that takes place before the ICO begins, and it usually allows the participants to buy your tokens. This new phenomenon has positive impact on the ICOs because participants often get bonuses, cheaper prices per token, and are directly involved in your ICO project. As the time passes, presale matters more and more for the participants and it is better for your ICO to contain a presale phase.
Prove your statements
The majority of serious participants will not take part in your project if you don’t have a proof of your work through a live and working product with lead users. Learn how to present your goals and develop your product before you launch an ICO. This tip is very helpful for having a successful ICO and attracting big and serious participants.
ICO projects and campaigns have become very popular and all of us can see their success over the last years. Through ICO, companies are able to create their own products and raise funds in a short time. But, success doesn’t come overnight and that’s why we are giving you these tips to prepare a good strategy that will drive a lot of people and profit.