Any startup or entrepreneur who wishes to make a quick buck has preferred crypto fundraising. Various crypto-crowdfunding methods prevail in the crypto ecosystem like initial coin offerings, security tokens offerings, initial dex offerings, Initial exchange offerings, etc. Among the mentioned, initial coin offering(ICO) is more popular. As of 2018, ICO fundraising has become a multi-trillion-dollar business that has crossed a market capitalization of more than $100 billion. These instances have fascinated many business people to develop an ICO platform.
While speaking of an ICO, is a capital-raising campaign that is carried over using cryptocurrency. The startup engrossed to raise money will create a new token as a service and lend it to the investors. On the other hand, fiat money will be collected from the investors according to the tokens that are sold. The tokens issued by the startup represent a utility or stake of the company.
If you’re an entrepreneur interested in developing your own ICO, you might go for a professional ICO development company in the crypto space. They’ll guide you with everything right from design, and development to deployment. This article will be your ideal reference that holds the major information for launching an ICO and choosing the ICO development company. After knowing about an ICO, you might be inquisitive to perceive the working of an ICO. with this, we shall dive into the article with…
How does the ICO Platform Work?
The main motto behind ICO’s inception is to leverage the decentralized platforms of the blockchain ecosystem in fundraising pursuits that drive the interest of various startups and entrepreneurs. Coming to the point, the working of an ICO is illustrated as follows.
Set a Fundraising Target
Before setting up a token sale, every company will fix a certain range of funds to be developed. After fixing a target, the startup tends to create the crypto tokens that are needed to raise funds.
Crypto Token Creation
This is the mandatory step to be followed for ICO token development. At first, crypto tokens are the virtual representations of a utility or an asset. These tokens are fungible as they can be exchanged with other tokens of the same type. The crypto tokens that are created for the ICO fundraising process are known as utility tokens. Utility tokens are also referred to as user tokens that offer future access to the business’s service or product.
These tokens are developed on existing blockchain platforms such as Ethereum, Torn, BNB chain, etc. The most prevalent blockchain on the above list is Ethereum. These utility tokens created during an ICO can be used for any of the futuristic purposes.
Propaganda Campaign
Once the crypto token creation gets completed, the startup will carry out a promotional campaign for attracting many new potential investors. Be concerned about the platforms where you’re promoting your ICO project for a wider reach. Currently, various social media platforms are used for promoting the ICO project.
Token Offering
After the token creation, the token sale will be executed. This token sale takes place in different stages as pre-ICO and ICO. Once the tokens are sold, the required amount of funds will be raised. On the other side, the investors who got the crypto tokens will utilize them for their futuristic purposes like trading, staking, making purchases, etc.
With this, we shall proceed with the development steps to be followed for creating an ICO.
Imperative Steps to Launch an ICO
As a newly emerging startup, you might not have an idea about the ICO development process. Just give it a whirl and achieve in your ICO development services. To go with that, there is a sequential array of steps that have to be followed for developing an ICO platform in an exemplary way.
Engender a Phenomenal Idea
Come up with a great business idea that stands outstanding among the competitors. Your idea should be drafted in a way to offer real-time solutions for the problems prevailing in the crypto ecosystem. Hence, think out of the box to pick an exemplary idea. Already, there are more than enough ICO projects in the crypto marketplace. To succeed, your idea should be exemplary.
Competitor Analysis
You should keep an eye on your competitors often to check their business strategies and ideas adopted. Many competitors have kept their footprints in the crypto marketplace and have succeeded in it. Do analyze your competitors for a successful ICO development that will help you in the long run.
Pick an ICO-Legalized Nation
Most nations have legalized cryptocurrencies and accepted ICO for raising funds. Some more countries are in a move to legalize it. To launch a scam-free ICO platform, choose an ICO-friendly nation. Some of the most-popular crypto-friendly nations are Switzerland, the USA, Malta, Singapore, Great Britain, Estonia, and Belize.
Crypto Token Creation
There are various blockchains available in the crypto space for developing crypto tokens like Ethereum, Tron, BNB chain, etc. The token standards for ICO token creation include ERC20, TRC20, BEP20, etc. Among the mentioned, ERC20 is the most prominent and the most preferred token standard for creating crypto tokens. Before creating a crypto token, you should fix the total supply of tokens and the other details of a token. For effective token development, you can approach the best Crypto Token Creation service provider in the crypto-verse.
Create a Whitepaper
A whitepaper is a technical document that has all the major information about the ICO project. That information includes the vision and mission of the ICO project, architecture, and goals, marketing strategy, roadmap, legal issues, ICO team description, ICO advisory, and all other information about the token. Every investor who wishes to put money into the ICO project will go through the whitepaper. So, a white paper should be drafted in an impressive as well as informative manner.
ICO Website Launch
This is the face of your ICO project that demonstrates all the details of your project. Various people will know about your project only with the help of your ICO website. Hence, don’t dump tons of data on the website. It just gives a glimpse of it that should be a way to attract many investors. The details to be incorporated into a website includes an intro video, product description, roadmap, subscription form, partners, PR news, link to the whitepaper, social media channels, and get-in-touch options. You can easily create your ICO website with the ICO Script that is offered by the reputed ICO script provider in the crypto ecosystem.
Terms and Conditions
These are the crucial parameters that have to be included in the ICO website. All the legal terms to be followed in your project should be mentioned priorly. This will be helpful for the investors to get a deep knowledge of an ICO project.
Marketing and Promotion
This is the phase where you’ll be advertising your ICO project on various streams. You can promote your ICO project using distinct marketing strategies like social channels, Email newsletters, Forum commenting, blogs, articles, newsletters, press releases, etc.
ICO Launch
This is the final step of your ICO platform creation. You can launch your ICO website by following the above-mentioned steps properly. Still, you have to promote your ICO project to get more reach.
Astonishing Features of an ICO
An ICO website should come along with the unimpeachable features that are mentioned below. Those features might differ for ICO admin and investor dashboards.
Features of an Admin Dashboard
- Detailed analytics and reporting
- Pending transaction handling
- Made-to-order smart contract
- Investor management
- Admin permitted management
- Conventional funding plan
- Detailed monitoring and logging
- Concierge plan
- Bank transfer and management
- Community management
- Whitelisting
- Timeline management
- Investor Contract management
- Lock-in-period management
Features of an Investor Dashboard
- User-Friendly interface
- Real-time statistics
- Crypto token wallet
- KYC/AML solutions
- Multi-language support
- Investor review
- One-touch information
- Airdrop and bonus programs
- Token purchase
- Current exchange rates
- Referral programs
- Community management
- Investor contract execution
- Two-factor authentication
Applaudable Benefits of an ICO Development
- It is a decentralized campaign to raise funds
- Plain-sailing process
- Comes with high-liquidity
- Economically efficient
- Hassle-free creation
- A maximum range of funds can be raised
- Has the potential to attract numerous investors
- No regulatory measures are included
On considering these benefits, you might be intrigued to create your own ICO platform. While speaking of ICO creation, it can be executed in two ways: developing on your own or approaching a reputed ICO development company. Here…
How does an ICO Development Company help your Business?
As said earlier, an ICO platform can be created on your own. But as a startup, you might not have enough experience and technical knowledge on developing your own ICO platform. You should be capable of fixing the bugs that come in between the development phase. So, think accordingly and proceed with the development.
On the other hand, you can seek the help of a renowned ICO development company in the crypto sector. They’ll have years of experience in developing an effective ICO platform. They’ll support you in everything from ICO designing, and development to deployment. Hence, this will be the best choice for developing your ICO platform.
Coming to the ICO development service providers, there are tons of companies prevailing in the crypto space. There might be a lot of amateurs mixed in the list. Hence, perform a complete analysis while choosing the ICO development service provider.
Why Choose Icoclone for ICO Development?
Icoclone is one of the veterans in developing an ICO and we’ve kept our footprints in the crypto space for many years. We have a good-hand team of blockchain developers for creating an ICO. We offer a turnkey solution for developing your ICO platform by means of an ICO Script. ICO software is a prefabricated one that is more helpful for budding entrepreneurs. An ICO script has all the impeccable features essentially needed for an ICO creation.
We not only offer ICO scripts, but we also excel in lending STO scripts, crypto token development, crypto wallet development, etc. Our team gathers all user’s requirements and develops your ICO platform and delivers it to you within the insisted time. So, you can approach Icoclone for a trustworthy as well as representative ICO platform in the crypto ecosystem for prodigious results!!!
