Initial Coin Offering is becoming a popular way for start-ups as well as well-established businesses to raise funds by launching their crypto tokens. It is believed that cryptocurrency is expected to be the next frontier in the world of finance and trading.
More than $4 billion was invested in ICO funding process in the last year itself.
If you are looking forward to understanding how to launch an ICO, here are the steps you need to know for achieving success in your project.
Following are the steps to launch an ICO successfully:
1: Determine your goals
Just like any other project or campaign, ICO also should have specific goals, objectives, and ideas. While launching an ICO, you should understand what your project is and how much you are going to earn from this project.
You need to prepare a roadmap for your ICO.
2: Draft a whitepaper and build a good team
Writing a whitepaper for an ICO is essential to make people understand what the project is all about and what benefits you are offering to the investors. The objective of the whitepaper is to explain every aspect of your creative idea.
An excellent whitepaper includes the information about market analysis, the goal of the project, token distribution, development strategy, product roadmap, and marketing strategy.
While drafting a whitepaper, it is essential to building a strong team for your ICO. Having a good team makes it possible to approach reputed investors, attract influencers, and get success early in the project.
3: Launch a website and legitimize your ICO
It is essential for every ICO project to have their marketing website to show their presence in the ICO market. Create a website which should load fast and contain the vital information such as a link to the whitepaper, token distribution structure, link to buy the tokens, demo video, and background of the team.
4: Participate in Cryptocurrency Community
Before launching an ICO, it is essential to make the audience aware of your project. To introduce your ICO to the public, participate in the cryptocurrency communities and be a part of the discussions. Let people know how unique is your idea and why investors need to invest money in your ICO.
5: Create Tokens
Creation of tokens is the core step of an ICO launch process. The tokens created would help your business to grow. Create the tokens using Ethereum or Neo. While creating a token, ensure that the platform implements all security standards.
Consider hiring the team of professionals if you do not belong to a technical background.
6: ICO Marketing
After the tokens are created, it is necessary to prepare a well-organized marketing strategy for promoting your project. Planning how to do ICO marketing would help you outreach the potential investors in the market.
Running paid ad campaigns can give you the user base of capable investors who will be interested in buying your tokens. You can also utilize effective marketing techniques like email marketing, social media marketing, or guest blogging to get a good position in the ICO market.
7: Crowd Sale
Once you have gathered the potential investors, it is the right time to sell the tokens to the public for raising funds. Make sure that you have an account on the website that allows investors to buy tokens either for the product you are going to build or in exchange for the cryptocurrencies like Ether and Bitcoin.
8: Create a Product
You should start focusing on the development of your product after the token launch. If you are planning to develop your product on the blockchain, hire a reliable blockchain development company to build a secure, scalable, and robust application.
ICOs are growing with each passing day, and 2018 will see more entrepreneurs and startups to invest into the ICO framework. If you have also invented to launch an ICO for making money and you are new to ICO, hire an ICO service provider that can help you make informed decisions at every step of ICO launch.
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