Ways to create a popular ICO project
Valuable tips to create an ICO project and make it popular
The cryptocurrency investments of Initial Coin Offerings (ICO) showed a major expansion in the first 6 months in 2017. A mammoth sum of US $1.5 billion was raised. ICO project gives inspiration and the push needed for entrepreneurs to create startups. This is done through funding received from investors around the globe.
The concept of ICOs can seem complex and complicated at the beginning. If you plan to get a boost for your startup through the crypto-currency market, it is completely worth to get to know about ICO. The major fact of success lies in knowing how to create a public Initial Coin Offering that attract the attention of investors. Experts predict that with the increasing number of startups, it will be competitive in future to find investment to boost your projects. More companies tend to create and implement new cryptocurrencies for their startups.
How to create a popular project to successfully promote an ICO Project:
Identify your Target Market
The concept of ICO does not always fit all companies. Not all industries can go into creating cryptocurrencies. It is believed blockchain will hit all the main industries in future. Best is to check beforehand whether an initial coin offering will elevate your startup.
Get to know the Rules
Cryptocurrencies have more regulations in the world of investments in comparison to the past. It is vital to know the basics of the security and laws imposed. This will ensure the startup follows the regulations in the crypto-currency landscape.
Analyze your audience
The audience have two categories. Those who are familiar with cryptocurrencies and the novice people to the world of digital coins. The first category will be aware of the technical details of the setup. The second category would need more detailed information on the status of cryptocurrency.
Spread your background story
Present an inspiring story about the mission and vision of your company. This can give a boost in social media given the audience find it interesting. Some may find it investment worthy given the mission statement aligns with their intentions.
Reaching out through marketing
Pass the information about your ICO project through marketing and free advertising. Use websites, social media tools and forums much as possible to get the word out. This is the secret behind most of the successful ICO projects. Raising awareness among the community through proper communication could lead to having a lot of potential investors.
Present your data
Provide evidence of the product development to the investors. This will help to build the trust. Present statistics and other presentations of your data and information. This will help to keep everyone updated on product progress.
Encourage to buy your tokens
Build a sort of reward model for the investors. The tokens held by the investors can be used to purchase products and services within the platform. This helps to give value to the tokens to preserve the sustainability of the new crypto-currency.
It is not easy to successfully run an ICO. It takes lot of hard work and preparation with effective coordination and communication to reach the public. The project success will depend on how interested the public will be to invest and backup the ICO project.