How to Get ICO Funding for Your Startup

How to Get ICO Funding for Your Startup

by Johnny S

ICO is a relatively new form of investment, which emerged after the establishment of cryptocurrency. The abbreviation means Initial Coin Offering and is a new ambitious way for businesses and startups to raise funds. These steps may help to guide you through the journey of launching an ICO.

The general outline

  1. Create an idea – the idea is the most important step, because the product on the blockchain is exactly what you are gathering funds for.
  2. Create your token – a token is similar to shares. There are platforms that will make it easier to create and release tokens (e.g. Ethereum).
  3. Describe your product based on the idea – a whitepaper is an outline of your project, technical aspects and strategy.
  4. Let the investors know about you – creating hype around your product is necessary, because it is probably the second most important thing after pitching the idea. If the investors will not know about your startup, it will most likely fail. You can use forums, Reddit, LinkedIn, Facebook and even Twitter.
  5. Create a bounty program – this means rewarding people for certain services. Startup creators help those people who invest in the development of the project.
  6. Release your token – launching it to ICO exchanges will allow people on the market to buy and sell it. It is better to leave this step to professionals.

What is next?

Next is the part for which it all started. These steps are just a rough outline of the whole campaign, but after completing all of them, you can start the ICO. Keep a close watch on everything that happens on the website, pay attention to the fund-raising, and continue to create the hype on social networks.

ICO’s are becoming more popular each year; numerous startups use them for crowdfunding. In the beginning of exploring this sphere, checking ICO ratings can be useful. This fundraising model is extremely promising and it will become even more powerful when the time passes.

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