ICO development solutions have changed the traditional practice of approaching banks and venture capitalists as it has proven to be a better and more effective crowdfunding method for start-ups. Young entrepreneurs as well as seasoned businessmen are benefitting from the ICO development services for their projects.
ICO Launching Company
Once the ICO development company has finished the job, ICO launching company takes over and issues valuable tokens that contain a certain utility for all investors. This utility comprises usage rights for accessing a product or service. The tokens thus generated can be exchanged for cryptocurrency eventually.
Implementation of the Process to Team up with the Best ICO Launching Company
While an ICO development company can help you create a flawless product, the ICO launching company can ensure maximum profits out of the ICO. The following steps can immensely help the business owner in putting his best foot forward.
- Have a Look at the Background of the Company — Check out the company’s history and prior experience of launching ICO’s. Verify the list of clients that the company has worked with previously and take out time to understand how they managed the project. Since ICO’s have become a legal investment tool now, ensure that the firm you intend to partner with has not been involved in any frauds or scams.
- Figure Out the Marketing Plan — It is not enough to just hire the best ICO development services provider. Successful ICO’s are backed up by consistent marketing efforts and are powered by the best ICO development solutions. The marketing team that you liaise with must be experienced enough to understand the crypto landscape and the investor’s mindset, which is evolving every day with the changing crypto environment. Considering the presence of an intense competition in the industry, the investors must trust the promises made by the ICO company. Different channels must be used to promote the firm’s offerings to guarantee a better reach among the cryptocurrency community. The focus must be on building a personal brand.
- Stay on the Right Side of the Law — To ensure smooth working of the ICO, a firm must comply with the different laws laid down by the authorities. These laws usually vary from one jurisdiction to another. While some countries like the United States of America welcome the existence of ICO’s with friendly regulations, nations like China have issued a blanket ban on the sale and distribution of ICO tokens. The ICO development company that you hire must also comply with the KYC (Know Your Customer) and AML (Anti-Money Laundering) guidelines put in place by regulatory bodies. The firm’s operations can even be interrupted if they breache any law.
- Assess the Achievements of the Team Members — Make sure that the ICO development agency comprises a mix of experts who are well-versed in different areas such as blockchain development, marketing, and legal compliance. It is advisable to have team members who have good knowledge of smart contract development and wallet integration.
- Assistance in the Preparation of a Whitepaper — Since a whitepaper is a gateway to understand the project’s vision, token distribution strategy, and the corresponding benefits to investors, it must be prepared by a professional. The ICO development company should assist by developing a detailed summary of the business model.
- The Plan Developed — The credibility of the ICO launching company can be determined by studying the plan they develop to maximize the potential of your idea. The business objectives of the firm must not be compromised. Similarly, the agency must not stake exorbitant claims to grab the project. The promises must be realistic and practical enough to satisfy the interests of different stakeholders.
- Deciding the Economics of a Token — The way in which a token is distributed will have a bearing on the amount of funds being raised. It is crucial to have a well-performing product lined up. It should also contribute to the investor’s earnings. The firm must fix the number of tokens to be issued, divide it according to the stage, and fix a policy regarding unsold tokens. It must also reserve a certain percentage for its team members and founders. The value of the tokens must rise after a certain period.
- Go Through the Reviews and Feedback of the Company — Demand to see video reviews or case studies of the businesses that have previously partnered with and benefitted from the ICO development firm. Study the feedback provided in discussion forums such as Reddit, Bitcointalk, etc about the ICO. However, do not blindly follow the opinion published by people on these platforms as it will lead to a one-sided decision.
When you’re starting out with your venture, it is natural to feel overwhelmed with the options, risks involved, and feedback about the company you want to partner with. However, keeping the above guidelines in mind before choosing the ICO launching company to work with can go a long way in helping you achieve your business goals successfully.