Step-by-Step Instructions on How to Conduct Your Own ICO
If you have a unique idea based on blockchain, then you need the attention and approval of the environment, as well as the investment project for development. Get engaged in the promotion of your project correctly! To do this, use crowdfunding technology to raise funds from investors a.k.a. ICO. The Coin Shark will tell you about 7 key stages that will help conduct a successful ICO. Stage 1: Development of basic concepts It does not matter how useful the proposal was, the project is doomed to failure if it does not have a clearly formulated idea. It is important to determine the target audience, analyze successful ICOs. Stage 2: Team and registration Ideally, the team should consist of 20-30 people:
- PR people;
- designers and others.
The team should consist of people with knowledge of English, as the main investors are concentrated in the United States. Having formed a team, you should register the company. Registration is necessary in order to establish a trusting relationship with investors. The fact is that the ICO is not regulated by bills, which destroys any guarantees of the honest intentions of the project and its founders. The registration procedure is also necessary in order to avoid any problems with the law. Stage 3: The main document - Whitepaper The information about the project should be stated in the most understandable language and be in one source - the Whitepaper. This document is necessary to attract investors. You need to explain there why your project is unique and what interest it presents to the reader. Also the document itself should not be abstruse and large. We recommend to create it in PDF format, so that later it would be convenient to distribute on the Internet. Work on the tokenmics well, since investors are mainly interested in it. Therefore, describe the main value of the platform currency. Stage 4: Website Before proceeding with the development of the site, you should understand that it must play an informative, advertising and marketing role. An ICO project sites typically consist of one page that includes the following:
- basic information about the project;
- presentation of the product;
- road map;
- information about the team (with photos and information about each participant, preferably with links to Linkedin);
- Whitepaper, public offer, study guide, FAQ;
- investors’ private profiles;
- partners of the startup;
- contact details.
After the launch of the site, we recommend that you start an email newsletter subscription for subscribers, which can contain the latest news about the project, information on the token sale, links to useful resources and just for informative material. Stage 5: Advertising and SMM You need to create hype around your project. To do this, we launch advertising on social platforms, use all possible traffic channels, send Whitepaper with links to the startup site and place it on foreign sites. PR-campaigns will help to reach a large-scale audience and a great impact on the popularity of the startup will be created through placement on ICO trackers. Note that advertising and promotion in social networks should be dealt by the relevant agency to get effective advertising. Stage 6: Bounty campaigns Pay special attention to the incentive program, because it influences the activity of users, which also affects the recognition. Give free tokens to bounty participants as a reward. For example, they can be rewarded for the following actions:
- for subscription to all startup accounts and activities (likes, comments, reposts);
- translation of the material into foreign languages;
- reviews about the project, placements on thematic sites or in a personal blog.
Stage 7: Token release You need at least $1000 to create your own tokens because you have to get the source code in the blockchain. Fortunately, there are less expensive offers from the Ethereum, Waves, NEM, NXT / Ardor, Counterparty and BitShares platforms, which offer to exchange their own digital currency for new tokens. Many experts in the field of blockchain technology recommend creating tokens on Ethereum, since there is a built-in function of smart contracts on the platform of this cryptocurrency. Subscribe to The Coin Shark news in Twitter: https://twitter.com/the_coinshark