Things to Know Before Launching Own ICO

1. Things to Know Before Launching Own ICO

2. What is ICO • ICO stands for Initial coin offering. Funds will be raised by startups and companies by creating innovative coins with a specific value. • It works just like a stock.  Buyers of ICO can get a stake in the company or project. • Before creating an ICO, the scope of the project, goals it aims to fulfill, funds to be raised, number of tokens reserved for the founder, and duration of the campaign must be considered. • In most ICO’s, investors purchase tokens with pre-existing cryptocurrencies.

3. Let Us Know Some Basic Steps to Be Taken Into Consideration Ahead of Launching an ICO The two stages involved in ICO launch • The Pre-Public engagement phase is where the project gets shaped. The vision of the founders is disclosed openly.  • It can take around six months to 1 year for its implementation depending on the project’s scope and intensity. • The Post-Public engagement phase is executed in a lesser duration of three months. The project is announced to the public and the sale of tokens is commenced. • More effort is devoted to ensure that the project fulfills the needs of investors with eye-catching offers. 

4. Figure Out If ICO Is the Correct Choice and Build the Right Team • Though ICO’s are highly demanded now, it may not work out for every firm.  • Traditional fund-raising methods such as venture capital financing can also be used to raise capital. It largely depends on the scope of the project and the target market. • Build a diverse team who have prior experience in development of blockchain technology and creation of cryptocurrency tokens. • A strong team will help in pushing the project forward.

5. Develop a Plan and Analyze Your Competitors  • Firms interested in expansion must have a proper plan in place. The ideas created for the business must be flexible keeping in mind the changing circumstances.  • As new competitors emerge in different parts of the globe, it is essential to analyze their strategies and apply certain aspects in the operations.  • Situations may arise where multiple ICO’s may be launched on the same date and time. Special features must be introduced to make the ICO stand ahead of rivals.  • The goal should be to raise maximum funds from investors at the lowest cost. 

6. Verifying If ICO’s Are Accepted and Creation of Tokens  • Not all countries accept ICO’s. Nations such as China and South Korea have banned ICO’s to protect their financial system and prevent incidents of swindling.  • Companies must comply with local laws and regulations enforced by authorities.  KYC and AML procedures should be strictly adhered to.  • ICO tokens must be developed in different stages such as private sale, pre-sale, actual ICO and the general sale. The tokens aim to create a high return on investment by launching it at the right time in the market.  • A strategy should be formulated regarding distribution, number of tokens for the issue, number of tokens to be created in each stage, and contingency plans to create additional tokens based on requirements.

7. Writing a White Paper and Focussing on Security  • A white paper is a technical document which contains details of the project’s vision, description of the core team members, allocation of funds, development strategy, market analysis, and legal issues.  • A roadmap of the company’s future must also be mentioned. If the ICO is launched in multiple countries simultaneously, professional translators will be required to modify the contents.  • High priority must be devoted to the security of the platform. Efforts must be made to protect user’s data from incidents such as hacking, data breach and identity theft.  •  Frequent testing and auditing by independent third-parties should be done to prevent any security lapses regarding investor’s funds.  •  Frequent testing and auditing by independent third-parties should be done to prevent any security lapses regarding investor’s funds. 

8. Building Smart Contracts and Developing Marketing Campaigns • An individual or team may be needed for developing smart contracts. Success in the token sale will depend on its effectiveness.  • It will self-execute the allocation of coins to investors and authorize the funds used for conducting transactions.  • Strong marketing campaigns must be implemented across various social media channels to attract more users. Tools such as Google Ads can be utilized for better reach with the target audience.  • Constant communication with the audience before and after the campaigns is important. The focus should be on maximizing the sales of the product.

9. Why Choose Blockchain App Factory • It is one of the accomplished ICO development companies in the industry. • From white paper creation, customized token creation to effective marketing campaigns, every requirement is taken care of by their experienced developer team.  • Post marketing campaigns are carried out effectively through multiple social media channels.  • Get in touch to avail profitable solutions for your business at the most affordable cost. 

10. CONTACT USWebsite : https://www.blockchainappfactory.com/ico-developmentTwitter :https://twitter.com/Blockchain_BAFFacebook : https://www.facebook.com/BlockchainAppFactoryLinkedin : https://www.linkedin.com/company/blockchainappfactory/Email Id : info@blockchainappfactory.comContact No : +91 6382 665 366