Blockchain has been the term which is ruling the world for recent years. With a bunch of strategies encompassed in this advanced technology, it is a good time for investors to get into it!
One such strategy is Initial Coin Offering which is termed to be the fundraising factor used by startups and enterprises. Companies can fundraise their blockchain projects by offering investors or a token or cryptocurrency exchange for fiat money or digital currencies such as Bitcoin and Ethereum.
In most of the cases, ICO managers conduct their fundraising campaign by offering tokens to individual investors. This gave rise to the ICO development company across the globe. Once they raise the funds through this method, cryptocurrency startups usually list their tokens or coins on a wider marketplace such as digital asset exchange!
This article is all about why hiring a blockchain ICO developer can be the cause behind bringing in fruitful profits to your business!!
Why it is important to recruit the Blockchain ICO development company for profits?
Yes, there are several reasons for your question. Before knowing the reason, initially, we should know the importance of Initial Coin Offering.
In the year 2017, ICO’s recorded around $6.2 Billion while in 2016, ICO’s netted around $90.2 Million!
ICO’s are similar to traditional fundraising strategies such as Initial Public Offering which allows the investors to acquire the share of a publicly listed company. Fundraising campaigns launched through Initial Coin Offerings are managed to generate over $6.2 billion through 875 different ICO’s in 2017.
Despite introducing a new and innovative method of fundraising for business, there are many challenges that ICO managers have encountered. Regulatory authorities throughout the world have argued that ICO’s may be selling unregulated securities that allow the organizations to acquire crypto capital without being held fully accountable.
In order to acquire funds needed to start the business, a company’s founders have the option of taking out a loan from a traditional bank or can approach the traditional bank or approach professional investors who can provide the capital required to launch a new project!
What are the strategies used by ICO developers to launch ICO?
There is a huge set of blockchain development companies in India follow the below strategies to reap profits. When it comes to the team involved in the project, there is no such rule of thumb involved in the number of people you have onboard.
The crucial factor here is not the hiring but covering every single area of expertise necessary for the project to come to life. It includes developers, Blockchain and cryptocurrency specialists, PR, and marketing as well as advisors, partners and early investors.
So, in the space of Initial Coin Offering, here are the steps used by the ICO software development company to launch ICO successfully.
Roadway used by Blockchain ICO development company:
Come up with an idea and make sure whether your project needs ICO
- Whatever your business it can be, have a clear cut idea of the project and get started with the requirements. A successful project delivers a desirable solution to the current market needs. This is how the ICO development company India gets started!
- Know your target audience before initiating the project. Ensure whether your project actually needs a fundraising strategy especially, Initial Coin Offering. Do you need ICO for selling toothpaste? If your project will be using tokens unnecessarily, it is extremely likely that the investors won’t even consider putting money into the project.
Get to know Competition & Competitors
- It is essential that you should determine your competitors before you start your project.
- Know who you are competing against! Well, now you are competing against competitor’s money. Give a high-end analysis of competitors for a successful ICO launch.
Become familiar with legal guidelines in the country
- If you look at the list of top blockchain development companies, they would know the legalization in the country they have planned to launch.
- So know your target audience and the country you are willing to launch. Have a legal advisor so that he/she could give you the terms and conditions associated.
- There are countries where Initial Coin Offering is considered to be illegal.
- So, you not only need to obey the laws, but you should also be transparent in how you are going to handle the money.
Creating an ICO Token in accordance with the needs
- This would be a crucial step for any ICO development company since this is where you are getting started with Initial Coin Offering.
- Initially, you need to have a solid distribution plan which heavily depends on particular ICO’s. For instance, there can be different stages of sales such as Private Sale, Pre-Sale, Actual Sale, and a general sale. Know all the levels and how you are going to segregate!
- Clearly outline how your tokens are going to be distributed. Decide in advance of how many tokens will be issued during the ICO process.
Drafting an ICO Whitepaper
- A Whitepaper is considered to be the technical document that unveils everything about the project right from the technical description of the product to the company details.
- If you have a look at the Whitepaper of the best blockchain development company in India they would have presented a detailed description of all these!
- If you are a beginner and not sure of how an ICO Whitepaper should be written, newbies can get to know-how! To put it in simple words, a whitepaper consists of the Roadmap of the project, Industry Overview, Market Overview, Team Involved, Product details, Goals and Technical Architecture, Development Strategy and much more!
Kick-Start with launching a Website
- Now you have created your tokens. It is time to launch the website. Websites are the face of your organization.
- Moreover, Content plays a major role here. Make sure you have three main sections in your site:
- Investor’s Interest Place
- The Team
- Project’s Motto
Yes, these sections are mandatory!
- Have a clear-cut photograph of the team members with a brief biography inbuilt along with social networking links. Project’s Aim represents the roadway you are going to travel through!
- Once you have encompassed these features, give importance to security. Since the success behind the top blockchain development companies in India is due to the fact of getting rid of data breaches!
Prove your Online Presence
- You have worked hard now. It is time to show your online presence globally.
- So you have everything now! You have the ready idea, gathered a talented team, done with the whitepaper, created your token and ensured your ICO campaigns are in adherence to law and regulations.
- So, have a separate amount of money for Marketing. If you have a look at most of the Ethereum blockchain development company, they have actually given importance to marketing campaigns such as Paid Ads, Bounty Programs, Mail Marketing, Social Media Marketing, etc!
- Now you are on the stage to launch Initial Coin Offering. The Blockchain development company India launch ICO by taking the successful statistics into the account!
- Here are a few success statistics:
- Mastercoin (now Omni Coin) — ICO lasted for one month, raising about $750,000 worth of Bitcoin
- Stratis — ICO went on for 36 days, raising almost $600,000
- Ethereum — Token sale went on for 42 days, raising $18 million
- NXT — ICO happened over 51 days, raising $14,000
- Waves — Token sale lasted 49 days, raising over $16 million
Now you can kick-start your project!! Yes, give your complete potential to reap profits for your business!
Blockchain Developments will still remain to be the perfect headlines in the forthcoming years undeniably! Therefore if you have a plan to hire a blockchain development company this would definitely bring laurels to your business!
Hope you liked this article!
Do record your views on the same!