Dos & Don’ts During Your ICO Project
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ICO list – 5 THINGS TO AVOID DURING YOUR Upcoming, Ongoing ICO IN 2018.
Dos & Don’ts During Your ICO Project
During 2017, there was a great deal of ICOs moving around. It is estimated that the number of Upcoming ICOs will increase in the coming year. For those who might not know, ICO is the abbreviation for Initial Coin Offering. Entering into 2018, it is hoped that people will not make the same mistakes that others have during their ICO sale in 2017 and those who made mistakes have learned from their errors.
1, Having more advisors than the actual team working on the ICO project.
Even though it is a good idea to have advisors for a future Upcoming ICO project, it is highly advised you do not have more than the people you have on your actual team.
2, Do Not Get Greedy
We have seen many ICOs during our work changing the end date of their ICO project.
Use reasonable hard cap (max limit can be raised during the token sale). We have seen many ICOs raising multiple times more found that they were needed for their project.
If you have a plan and have a good idea what you need, calculate the costs, set the hard cap but not above beyond what you have calculated. If you raise $30,000,000 for your project but only needed $10,000,000, setting your limit way too high is saying you are being paid for nothing and your motivation will fly out the window.
3, Don’t Hand Out Tokens Like Candy
Too many people have given away far too many tokens to advisors and advertisers who, in turn, will dump them as quickly as they can. They do not care what the cost for the tokens are because they got them for free! They will sell them off driving down the value of your tokens which just unfair for the investors who bought the tokens.
4, Do Not Become Overly Complicated
Most of these technology ICOs are trying to do something new something complicated. When explaining your ICO project, deliver information that people will understand and they can easily digest. If you get too complicated, you’re going to lose out on investors. You want to draw people’s attention first and foremost and then you can get into the details in your whitepaper.
5, Communication Is Critical:
If you are getting ready to launch your ICO, you are probably very busy. That said, I have seen far too many who totally ignore emails and messages for well over 48 hrs. You need to have someone on your team to answer questions about your Upcoming or Ongoing ICO project in a very timely manner. If these people are not getting answers for 2 or 3 days, you will lose the potential for investors!
Keep in mind what you are attempting to do. Understand that advisors and advertising have value, but if you cannot draw in investors you have nothing and your ICO project will probably fail.
This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.