Initial Coin Offering continues to be the most preferred blockchain-based crowdfunding method. According to ICODATA, 82 projects were launched this year and managed to collect close to $346 million in funding.
ICOs are known for versatile and decentralized nature. They enable startups to raise funds without the need of any middleman or venture capitalist. Compared to other funding models, ICOs eliminate regulatory requirements, which helps save time and resources of investors. Moreover, there are no geographic restrictions, and anybody can participate in the investment process.
In 2019, it is very easy to launch your funding project with the help of ICO development companies. These companies offer end-to-end solutions that allow you to develop and launch your product in a very short time. However, it is important to understand the different nuances of building a phenomenal ICO project.
Think of an Idea:
At the heart of every business is a good idea. You can start by selecting an industry and identify the issues they face. Your product can then go towards addressing this issue and how you can generate revenue while doing so.
Publish the Whitepaper:
Once you have decided on your business idea, you can proceed to elaborate on the problem statement and the solutions you are offering. You can also state the technologies you shall be employing well as the features or USPs of your platform.
Set the Road Map:
Next, you can chart out the timeline and goals of your project. This will help you develop tangible checkpoints for your projects and attract trust from your investors.
Develop the Platform:
After you have completed the above three steps, you can proceed to develop the platform. Choose a high-performing blockchain protocol to manage your ICO process and integrate all the features you mentioned in the whitepaper.
Decide the Tokenomics:
Also, set time aside to decide how you will distribute the funding you will receive. By providing a breakup of the capital utilization, investors will know precisely where their funds are going and help improve your credibility.
Market your ICO:
With progress on all of the other steps over, you can begin promoting your ICO. Create social media accounts for your platform and direct advertisements to the target audience. This way, you can create a following for your product and collect funding faster.
While the above tasks are very difficult for an entrepreneur to execute on their own, it can be easily outsourced. As mentioned earlier, many companies offer services that cover all aspects of an Initial Coin Offering. Blockchain App Factory is one such company. They are a leading ICO development with many years of experience. They have launched a number of successful projects and are always integrating the latest market trends into their products. Blockchain App Factory offers the best whitelabel solutions that are very easy to customize and are highly scalable.
