From 2018 to 2020, the total amount raised in ICO running or being a part of it was over 5 Billion Dollars each year. ICO is an expensive affair. The hosting of a successful ICO will need approximately $60K to $80K just to launch the campaign. This cost could shoot over the sky if the projects and their goals are highly ambitious.
It is a time-consuming process from the pre-public engagement phase to the post-public engagement phase. On average, the prior takes nearly a year and the latter takes about 6 months.
Make an idea, and ensure your project needs an ICO.
If you are going to succeed in your project, the market needs a solution, and this solution should be objectively better than what your competitors have to offer. To do so, you'll need a detailed understanding of the market, as well as an understanding of your target audience and, most importantly, what they'll be willing to pay you for.
Understanding the competition
Who are you against? One could think that it is any other project that offers you similar services. Well, you compete for the money of investors, so here's a very simple answer: you're against everybody. Yes, every single ICO takes place at approximately the same time as yours.
Analyzing legal and ill-legal of ICO
The relationship between legal structures and blockchain technology has been unstable, to say the least. Scams and a slew of other errors have overshadowed the reputation of initial coin offerings (ICOs). The laws regulating ICOs may not be apparent in most countries, but they do exist. Except for South Korea and China, no other country has declared an outright ban on ICOs. It is not enough to ensure that your company is legal; you must also consider investor concerns.
Creation of ICO token
- When you introduce your ICO, the first thing you need to find out is how you're going to distribute the token.
- The method by which you collect funds is determined by the token and the distribution plan you choose.
- The distribution plan should also include the total number of tokens, tokens issued within the team, and the number of tokens sold at each point of your token sale.
- The blockchain on which you can launch your ICO is something that your ICO developer should pay close attention to.
- Certain elements of the code must be customized by your ICO developer to meet your business needs.
- A white paper is primarily a technical document that details every aspect of your project.
- It should also have all of the minute information about your ICO.
- Your white paper is also a passive document for marketing.
- Investors should be satisfied with the information in your whitepaper. These investors will make your ICO popular in the right circles.
- These individuals could be influencers, and their words could have a large impact on an entire community of blockchain enthusiasts and investors.
- Your ICO's website serves as its public face. Even if they do not have direct access to your white paper, they will almost certainly visit your website.
- The website content should be written in a way that entices, informs, and then explains.
- It is essential to include information about your team, the goals of your project, and the steps you will take to protect the interests of your investors, as well as a road map for your project.
- It is important to remember that your website is the ultimate destination for all of your marketing efforts. As a result, your website should be built in such a way that it is search engine friendly.
Promoting your ICO
- Marketing and public relations are the finishing touches to your ICO creation process.
- Marketing your ICO entails both paid and organic marketing, just like any other marketing effort.
- You can hire a Fintech ad to help you in every form of promoting your ICO.
Now your ICO is all set, primed, and ready to make a big impact. It is possible that many investors, regardless of their preliminary research, will want to have a few last-minute questions answered before committing funds to your project.
As a result, it is critical to be available to your investors 24/7 during your ICO launch. The launch is the most vulnerable period for a cyber attack. Keeping this in mind, you should also keep your security personnel on standby at all times to deal with any unanticipated complaints.
Getting Your Token Listed
Having your token listed on a reputable exchange can be regarded as the Holy Grail of your ICO. This listing will ensure that your investors receive impressive returns. It is critical to determine minor things such as the coin's name, trading symbol, coin logo, and project description. Make sure you do your homework before approaching an exchange, and your ICO will be ready to script and spin its own success story, just like many other ICOs!
To summarise, I hope now you have a good understanding of how an ICO works. Wisely selecting the platform is the key to your ICO's success. Coinpedia is a platform that offers a shop that meets all your needs. Coinpedia offers Crypto Bulk PR Services through which you promote your ICO.