According to the latest Initial Coin Offering news, ICO scams have increased scepticism and suspicion in few recent campaigns. This distrust is somehow defensible with plenty of legitimate projects that act as a ‘front’ for fast money-making-schemes. Though, there are still many genuine and reliable initial coin offerings being launched.
How to Treat Your ICO?
- Before you launch an initial coin offering, you should fulfil certain requirements and standards, including the publication of a whitepaper.
- The main thing is to identify that your attempt to attract an investment in an ICO must have to be in your own way and through more traditional means.
- Make sure that you have provided enough information in order to be transparent and reliable. Likewise, it is worth being cognizant that a typical ICO whitepaper has almost 20 pages, however, a prospectus of a stock market investment can be of almost hundreds of pages.
Determine the Problem
- If you can evidently present an issue in a given industry, and clearly explain how you can solve that problem, you will definitely attract contributors.
- Many companies have claimed that their novelty/solution is firm to change any given industry, as they can be seen in many ICO schedules.
- On the other hand, winners will be those, who’d offer the finest solution; as well as those who are new to the market.
- If you want to make sure that whether your proposed ICO is going to attract the potential participants or not, you’ll have to evidently demonstrate the value that you add to your service.
Determine Why blockchain is the best solution
- The solutions provided by the blockchain technology are definitely worth the hype. Though, in your proposed offering, it’s imperative to demonstrate how and why a blockchain-solution is the finest course of the act for the problem that you are attempting to re
- It is often due to an existing/growing network of contributors that can actually profit from the blockchain network primers as well as tokenization to advance the service/product.
- It is imperative to have the ability to explain how you will attract people to the network that is created by you and how it will be monetized.
Robust Corporate Governance
- Contributors that are potential to your business will always do a good research on the team and explore the idea behind your company.
- Ensure to clearly explain the knowledge and involvement you have behind your company as it’s good to prove that your idea was analyzed and developed already.
- Also, you should form a corporate governance structure that is matched with present structures.
- There are ways to promote your ICO campaign without using Google and other social media platforms – Google, which has already banned advertisements related to ICOs.
- Ensure that you are utilizing each and every tool in your clearance to make the exposure.
- Online presence across cryptocurrency calendar websites, other information portals, and cryptocurrency apps is also quite imperative.
- You can find advisers and agencies that are specializing in ICOs so that they can assist you well, however, pick them wisely before using your budget for extra support.
- Make sure that your diary is full of meet-ups and conferences.
- It is a hard slog to get your name to be known, but still, it is more important that you are ‘far and wide.’
- Inducing a renowned investment entity will also verify the success and failure of the ICO.
- The comfort through which potential contributors can get information about the token sale development and the whitepaper matters a lot, as it demonstrates that you didn’t hide anything.
- A genuine ICO can be tracked through the token sale address, while a fake ICO will try its best to hide how its sale progress is surging through numerous individual contribution addresses.
- This doesn’t only disguise how far the live sale of the ICO will go, but also the accurate amount.
If any of these factors are difficult to find, it is a sign that something is wrong and potential participants should look somewhere else.