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Things that need to be implemented for a successful ICO

Tokenization is currently a very popular concept in the Blockchain industry as a result of the numerous products that are being created on the Blockchain.

07.Oct.17 2:53 PM
By Daria Zaytseva


Things that need to be implemented for a successful ICO
One of the main reasons for the growing popularity of tokenization is convenience, which allows you to quantify and manage the assets of any given product. When assets are tokenized, the value becomes easy to track and access. This makes it easier for existing enterprises and startups to quantify their products for effective administration.

One of the areas where tokens turned out to be effective is the purpose of crowdfunding. The sale of tokens is currently popular in the Blockchain industry, mainly in the form of the initial coin offering (ICO). Developing businesses and startups have discovered that selling tokens and ICOs are convenient ways to raise capital for the necessary expansion or development, depending on the situation. The reason for this is mainly due to the lack of regulation and the ability to receive funds from anywhere in the world.

Christopher Franco, CEO of Borderless Tech, the owners of reports that the first thing everyone needs before committing on a token sale is a good idea, preferably in the form of a working product. However, for some projects, a good business plan or technical document, which describes the idea in detail, was good enough to establish an ICO, although without a product it would be a difficult battle.

Secondly, we need a cohesive team that can execute the plan and provide the software or service, as promised. The absence of industry advisors doesn’t hurt either.

The third important component according to Franco is a good marketing team and an initial budget, because any product that needs to be seen will cost some initial capital.

Neglecting these details or not paying serious attention to them has been identified as the main reason for most failures in the sale of tokens.

The need for efficient departments is the reason that there are specialized startups that focus on various aspects of project design. Companies such as Never Stop Marketing, MarketAcross, ICOPromo are several of the various PR companies in the ecosystem that offer professional marketing services, especially for startups.

Taking another step, other companies, such as TokenLab, says to offer a complete package where all that customers need to do is to submit an idea and provide some information, and TokenLab will complete the full ICO package from tokenization to marketing and all.

The emergence of these professional services, which serve as an incentive for startups in the industry, implies that we are likely to experience greater influx of new Blockchain products and the adaptation of existing ones unto the Blockchain.

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