Since the introduction of ICO in 2013, it has been considered one of the best crypto crowdfunding platforms that startups and well-established entrepreneurs can use. People have raised multi-million funds through ICO.
Considering its high potential and decentralized nature, it is given priority over other crowdfunding methods available.
You can develop an ICO platform by yourself or with the help of an ICO development company. To avoid all the hassles, consider going with a company is best.
But, if you’re an entrepreneur, you might be willing to know the ICO development process. Don’t worry; we’re here to guide you!
In this blog, we’ll discuss everything you need to know about an effective ICO launch.
How to Launch Your ICO Token?
The process of launching an ICO may seem to be a confusing task if you are new to it. Here’s a step-by-step guide to help you create your ICO token from scratch.
- Pick an Idea
Launching your ICO token without conducting proper research won’t be effective. To make it successful, you need to come up with an idea that should solve the issues currently prevailing in the crypto sphere. To do that, perform a complete research and fully understand the industry.
- Competitor Research
Next, you need to filter the competitors who have successfully created and launched their ICO tokens. This will help you get some productive ideas and become outstanding among your competitors.
- Choose an ICO Development Team
This is one of the most important steps since the success of your project lies in their hands. To create and launch a successful ICO, you can choose a team with designers, editors, programmers, strategists, advisors, and legal specialists.
- Select a Legal Nation
Today, many nations have earned the reputation of legalized cryptocurrencies and ICOs as a fundraising model. It would be safe to launch your ICO in a crypto-friendly country. Some nations you can go forward with include Singapore, Lichtenstein, the USA, Great Britain, Malta, Belize, and Estonia.
- ICO Token Creation
After all the groundwork, now it is time that you start creating ICO tokens. You can make it on prominent Ethereum, Tron, and BNB chains.
The crypto tokens created for the ICO launch are fungible tokens addressed as Utility tokens. These represent a stake in a company. Some renowned standards used for utility token creation are ERC20, TRC20, and BEP20.
- Whitepaper Creation
An ICO Whitepaper is one marketing tool containing all the details about the ICO project. Every prospective investor who invests in the ICO project analyzes the ICO whitepaper. It should include a roadmap, company background, benefits, tokenomics, tech used, timeframe, utilization of funds, ICO development team, and privacy terms.
- Website Creation
The ICO website plays a crucial role in driving success to your project. Investors interested in your ICO will go through the three basic things, which include the team, the aim of the project, and measures taken to ensure the security of the investments.
Your ICO website should include a description of the ICO, subscription form, presentation video, press coverage, real-life use cases, whitepaper, documents, early investors, contact details, and social media handles.
- ICO Promotion & Marketing
Now that you are almost ready to launch your ICO, you should promote your project on several sites so that you get to reach your targeted audience. Leverage many strategies to promote your project, including email newsletters, forum commenting, social media engagement, blogs, articles, and news advertising.
- ICO Launch
Lastly, it would be best if you launched your ICO token. Your chosen ICO development company will help you with its launch. Remember to promote it on various sites even after launching.
How Much Does It Cost To Launch An ICO?
Launching an ICO token might cost more than $100,000, but the price may fluctuate depending on the project’s needs and requirements. Also, some factors affect its overall cost, which include:
ICO Cabinet: ICOs and token sales can be conducted using ICO cabinets, influencing the overall cost. It is a mandatory area for user sign-up, verification, buying and selling tokens. Its essential price is $15,000.
Whitepaper: Based on the information provided in the whitepaper, investors decide whether it is worth investing in the ICO project or not. Its average cost lies around $5,000 to $15,000.
Website: The essential cost to launch an ICO website will be around $10,000 to $20,000, which depends on the features, functionalities, complexities, and more.
Smart Contract: The cost of developing a smart contract is around $8,000 to $10,000, which depends on its features and characteristics that need to be included.
ICO Token Marketing: The promotional costs associated with its marketing add to its overall cost of $10,000 to $20,000, depending on the marketing strategy used.
Post ICO Launch: It includes the price to launch follow-up ICOs, which may be incurred due to demand and market expectations. Its cost would vary from $20,000 to 40,000, which includes email marketing for sending important details, ICO capabilities, push notifications, and more.
The Bottom Line
The ICO token launch can be a challenging yet tedious process that may take several months to a year. However, deciding to collaborate with a professional ICO development company can make things easier and seamless for you.
If you want to launch your own ICO token and need a tech partner, feel free to contact us. Our experts at Technoloader can help you with your project and provide end-to-end token development services.
About the Creator
Technoloader is a complete blockchain development company in India that provides end-to-end solutions in this field. We offer blockchain development, defi development, cryptocurrency wallet & exchange development and mlm development.