Most of the startups and entrepreneurs have been moving from traditional methods of fundraising to new methods. Crowdfunding is the platform where you can raise funds for your business needs. There are various types of crowdfunding methods, they are IPO, ICO, IEO, STO, IDO, and IFO. IPO is the traditional method where you should back your company’s shares and then you can raise funds. For launching an IPO, some regulations should be followed and it is completely centralized. To overcome all these cons, people are moving from IPO to ICO which is a decentralized method of fundraising. Though it is decentralized, the launching of an ICO is a very challenging task.
Among the other crowdfunding methods, startups have raised more funds through the ICO method. Nearly $7 billion have been raised from almost 1000 ICO projects. The experts of the crypto industry predict that ICO will raise up to $40 billion in the year 2025. So, its popularity is increasing every day. If you wish to raise funds through an initial coin offering, then you should choose the best ICO development company in the industry. We’ll assist you with the development of ICO, and then you can deploy it. We will guide you with the unique features that are offered in our company. This will lead to the successful development of your project.
In this article, you will learn all about ICO, how to develop ICO, ICO development solutions, benefits of ICO development solutions, and the key factors to consider before choosing the ICO development service provider in the crypto industry.
Come, let us quickly start with…
What Is An ICO?
ICO is the acronym of Initial coin offering. Among all the other crowdfunding methods, ICO is the ideal and most popular method of fundraising. In ICO, you can raise funds by launching your crypto tokens. The investors who raise funds for the ICO projects will get crypto tokens in return from the startup. ICO is also a token sale platform where the newly created tokens will be available for sale. Through the token sale, you can buy crypto tokens in exchange for fiat currencies. In other types of crowdfunding like STO, some of the assets should be backed. So, the interference of a third party will be there. ICO is becoming more popular because of its independence.
Benefits of ICO in Crowdfunding
There are massive benefits to ICO over other crowdfunding methods. They are,
- Transparency
You can create your own crypto token at any time without the interference of third parties. No full financial backup is needed. After your token sale, you can raise funds according to your need
- Decentralization
In ICO, tokens can be sold globally. ICOs are available to everyone who wishes to invest in cryptocurrencies.
- High liquidity
In IPO, some may take a long span to raise their funds and some may become exit-capable. But an ICO provides high liquidity in a short period.
- No Intervention Of Third Parties
ICO is not registered and regulated by any government organizations.
- Ownership Of Alternative Assets
You can own another type of asset which is crypto tokens in addition to fiat currencies.
Steps To Follow For ICO Development
There are certain steps that should be considered for the successful development of an ICO. They are,
- Idea Generation
To develop an ICO, you have to research it completely. You should be prepared with the idea for what purpose you’re developing ICO. The initial step you should do is market research. Check the live projects going and their performance. Make your own strategy and you should think out of the box to stand out from others. If your tokens fulfil all these factors, then your ICO will become successful among all.
- Targeted audience
The next step in ICO development is that you should detect your target audience. Always remember that already there are dozens of ICO projects that have foot printed in the crypto industry. You have to beat them and should become successful. After deciding your target audience, you should analyze your competitors and their strategies. Keep a goal and work on it. Make a clear road map and the techniques you are going to attract investors.
- Follow the regulations
Before developing an ICO, you should follow the regulations of the respected countries. Launching ICO in crypto-friendly nations will legalize ICO. Countries like Switzerland and Malta have made everything legalized with ICO. So, developing the ICO by following the regulations will lead to the successful development of an ICO.
- Creation Of whitepaper
The most important step in ICO development is drafting an ICO whitepaper. A whitepaper is a technical document that gives the entire blueprint of the project. Nearly 80% of the people use whitepaper for making their decision regarding ICO. A whitepaper is a document that allures the investors for funding. A well-defined whitepaper will provide a clear roadmap for the developers and they can work accordingly. The whitepaper is used for general publicity. When it gets released to the public, then your project will get notified among the investors.
An exemplary whitepaper should include the following parameters:
- The vision of the project
- Current ICO market
- Regulations
- Roadmap for development
- Phases of ICO development
- Legal disclaimers
- Cost involved
- The team involved with expertise
- About the company
- Hiring an excellent team
If you have a pool of expert developers, then you can develop a top-notch ICO. It is crucial to hire a skilled team for a successful ICO. The team should remain perfect and should produce an exemplary product. Hire a team of skilled and experienced developers for making your ICO successful. The ICO development team doesn’t include the developers alone. Because there are some important people also involved in the ICO development team. Such as,
- Founder/Chief Executive Officer
- Chief Operating Officer
- Chief Technology Officer
- Chief Financial Officer
- Skilled blockchain developers
- ICO marketing specialists
- Financial advisors
- Purpose Of Your Token
First, decide how you are going to galvanize your investors with the tokens issued to them. Do research on the soft cap and hard cap mass and their effects. While running an Uncapped ICO, you should be careful as it becomes wearier.
- Creation Of Crypto token
Token creation is the most crucial thing to be noted here. Only after the creation of tokens, you can launch your ICO. You can create your token from any of the prominent blockchains like Ethereum, Tron, Binance Smart chain, and Waves. Crypto tokens can be created using the token standards of these blockchains. For the creation of a fungible type of token, you can use 20 standards of any blockchain like Ethereum, Tron, Binance smart chain, etc. Non-fungible tokens can be created using 721 standards of those blockchains. Technical architecture plays a crucial role in the successful development of an ICO.
- Launch an ICO website
For the successful launch of an ICO, you should have an alluring website. The ICO website should be crisp and elucidate. To grab your potential set of investors, you should consider the checklist given below for the successful development of your ICO.
- The website should draft a template consisting of the roadmap which should represent the phases of the company which they crossed. This will be a success story for your investors.
- The team section should consist of team photos, their biographies with expertise, and their links to social networks.
- Then you should provide the details about the Initial coin offering. The number of tokens you are going to distribute.
- Finally, at the bottom line, you should provide links to the social media forums like LinkedIn, Facebook, Twitter, Reddit, and Youtube.
In addition to this, the ICO website should have a user-friendly dashboard. You can create an extraordinary dashboard using ICO script software. For launching an ICO with peculiar features expected by the users, you can prefer bug-free ICO script software for business needs.
- Market your ICO website
This is the crucial step to make money for your ICO. You can use both organic and paid ads for marketing. Ads refer to Google Ads, forum Ads, and social media Ads. You can also use the below-mentioned factors for your ICO marketing
- ICO Newscorner
- Crypto Forums
- Slack
- Quora
- Pre-ICO and ICO launch
The Pre-ICO launch is the final stage of ICO development. The investors will become interested in your ICO if your marketing is good. In the pre-ICO stage, the cost of launching an ICO will be less than the ICO stage to attract audiences and investors. After the completion of Pre-ICO, an ICO crowdsale will take place. This is the most awaited stage of everyone and this stage provides the solutions for your successful project. An ICO crowdsale will take an average duration of 2-4 weeks and it may extend up to 2 months.
During the ICO stage, the specialists of the ICO team should provide 24/7 support for your investors. You have to answer the questions raised by the investors immediately.
Benefits of ICO Development
- Anybody can develop their own ICO website. They need not be well-financed.
- The Development cost is low. So startups can launch their ICO easily.
- Any startup can raise its funds with proper a whitepaper
- The installation and development process is simple when compared to other crowdfunding methods.
- High liquidity in a short span.
- Investors will have full power over their funds.
- No intervention of third parties
- Multiple divisions of fundraising occur in ICO such as private sales, public sales, and Airdrops.
How To Choose The Best ICO Development Service Provider?
Here are some of the factors listed below to choose the best ICO development service provider in the industry,
- Analyze the history of the ICO development service provider
- Pick the service provider with an excellent business strategy
- Check their customer support and quality of their service
- The ICO development service provider should have a strong marketing plan
- Scrutinize the laws of the country
- Adoption of blockchain technology
- Hire an experienced set of developers
- Check the ICO development service provider’s feedback and reviews
Wrapping Up
When it comes to ICO development solutions, ICOCLONE ranks first in the industry. We are the trailblazers in the ICO development services. We have a great number of experience in ICO development. Icoclone is the top-notch ICO development service provider in the industry. To develop a successful ICO, you should have an experienced and skilled set of developers to complete the project in time. Our developers have delivered more than 80+ projects for our clients successfully. Our developers can easily fix the bugs and can rectify them easily.
Talk to our expert team for the successful development of an ICO!!!