Things to Know Before Launching Own ICO

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Things to Know Before Launching Own ICO
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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 ICOs, investors purchase tokens with
  pre-existing cryptocurrencies.

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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 projects 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. 

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Figure Out If ICO Is the Correct Choice and Build
the Right Team

• Though ICOs 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.

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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 ICOs 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. 

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Verifying If ICOs Are Accepted and Creation of
Tokens 

• Not all countries accept ICOs. Nations such as
  China and South Korea have banned ICOs 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. 

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Writing a White Paper and Focussing on Security 

•  A white paper is a technical document which
  contains details of the projects vision,
  description of the core team members, allocation
  of funds, development strategy, market analysis,
  and legal issues. 
• A roadmap of the companys 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
  users 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 investors funds. 
•  Frequent testing and auditing by independent
  third-parties should be done to prevent any
  security lapses regarding investors funds. 

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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.

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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. 

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