Digital asset investor: ICO (Initial Coin Offering) is a smart method to fund projects launched by startups without any risk. It involves the sale of digital tokens to interested investors and exchanging them for cryptocurrencies like Bitcoin or fiat funds. Some of the famous ICO’s were Mastercoin, Ethereum, and Waves. An ICO is also known as token offerings, crowdsale or token crowdfunding. Some of the best locations to launch your own ICO are Singapore, Switzerland, Hong Kong, British Virgin Islands, and the Cayman Islands. More than 80% of the ICO’s are launched on blockchain platforms like Ethereum.
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Advantages Offered by Launching an ICO
- It is easy to handle an ICO project as it is cheaper and faster when compared to other fundraising mechanisms like venture capital, private equity, and IPO’s. Digital asset investor
- It can be efficiently advertised through online marketing tools.
- The target audience can be effectively engaged with through interesting blogs and interacting through Slack and Telegram.
The Target Audience for an ICO Launch Platform
- Investors who purchase the token associated with your project. They will be well familiar with the crypto market conditions and will be your loyal clients.
- Speculators who buy the tokens to immediately sell them off after its price increases.
- Gamblers who are not so active in the crypto market but invest in many ICO’s simultaneously hoping to gain some benefit from the most successful ones.
The Team Members Required for ICO Development
- A dedicated project manager who will coordinate the entire work of the group involved in building the project. Digital asset investor
- Community managers who will directly interact with the target audience.
- A PR expert who is a specialist in handling mass media.
- Content writers who create interesting content to be published on your website, blog, and social media pages.
- Software developers who render full-fledged technical support for your project.
- A cybersecurity expert who will ensure no data breaches and prevent external hacking attacks on the platform.
- A graphic designer who will design the logo, website layout, and advertising materials for the brand.
- A user interface designer who will ensure that the website is friendly on both web and mobile platforms for the users.
- A knowledgeable legal counsel who will help settle issues related to the law for the firm.
- Product engineers who will build your product and have experience in blockchain technology and smart contracts.
- Business development executives to ensure quick growth.
- Industry experts in finance and insurance depending on the nature of your product.
The Procedure to Incorporate While Launching an ICO
- Decide whether blockchain technology will work for your business operations.
- A viable economic model needs to be created for tokens by determining the appropriate price of each token and the total supply.
- Comply with the relevant crypto regulations in the jurisdiction to stay on the right side of the law.
- An ICO will work well if you offer a token with a utility value, in case you are promising increasing returns to investors, it is better to issue a security token instead.
- Understand the current market conditions in the cryptocurrency industry.
- Identify the USP of your ICO and showcase it to ensure success.
- Create a professional whitepaper and explain your technology solution, the roadmap of your blockchain product, business model, marketing strategy, fundraising target, and status of the project’s progress.
- Undertake rigorous testing and deployment of smart contracts.
- Plan an extensive code audit for the protection against hacking attacks.
- Kickstart your marketing campaign with an interactive video, paid advertising, attractive banners, public relations, and social media promotion.
How to Prepare the Right Pricing Plan for an ICO Launch Platform
- Undetermined price – The price has not been fixed yet and the potential participants of the project will receive some amount of tokens for their contribution to the ICO.
- Fixed price – The price will be appropriately set and participants can purchase the tokens but can trade them only after a freezing period.
- Dutch auction – The early investors will buy the tokens at the most expensive price and the price will eventually decrease over the investment period.
- Price rise ICO – The participants of the project will get the best possible price for the tokens.
The Security Aspects to Take Care During ICO Development
- Monitor different phishing sites as there will be people trying to divert the money of your interested investors. They will nefariously copy the design of your website and give your clients the numbers of their wallets.
- Protect your operational servers from DDoS attacks as investors will not be able to buy your product if your website is down for some time.
- Perform a complete safety audit of your ICO project especially the smart contracts and the custom blockchain networks to ensure the protection of the funds.
Digital asset investor: List your ICO on the leading rating websites like ICOalert, coinschedule, coindesk, and icorating.com. Participate actively in platforms like Reddit, Medium, and Bitcointalk.
Follow all the above-mentioned tips to launch your own ICO with success and attract serious participants.