How much does an ICO cost in 2017? Checklist of contractors.
Nowadays literally everyone has already spoken about ICO and hyped himself by that. Each following crowdsale tops record levels of raising money. The number of projects (according to the icotracker.net data) is growing. Prices for the work related to an ICO launch increase every hour. Following up upon the article «How much does an ICO cost, the contractors’ prices» https://vc.ru/26650-ico-prices I would like to share my experience in working with contractors of ICO projects launch.
The key actions for an ICO launch (the process described clearly on this link: https://vc.ru/25255-how-to-run-ico) are the following:
· Write the white paper
· Launch the product’s promo site
· Customize work with the community
· Register the company
· Develop and publish the smart contract for the issue of tokens
For implementation of an ICO project one should choose one of the following ways:
· The internal team
· The freelance team
· The ICO launch agencies
For making the right choice let’s determine what service each of the described variants provides.
The following customized services can be determined:
· Legal services
· Working with investors (PR and marketing)
· The issue of tokens
The internal team:
The statistics of the successful ICO projects shows that all of them were launched by the internal teams. Among the disadvantages the complexity of the rapid recruitment of specialists can be distinguished. Plus the legal services that should be found from the outside.
The list of the team members:
· Project manager
· Community manager — works with the community and the external bounty managers
· PR manager — works with social media and events
· Marketing manager
· Copywriter — ideally should be an English native speaker
· Business developer — works with investors
· Smart-contract developer
The prices depend on the specialists and the level of their salaries. There is no certain answer concerning this variant.
The freelance team:
Everything is much simpler with this variant and the prices depend a lot on the freelance marketplace choice. The prices for the freelancers’ services are the following (according to the information of the year 2017):
· ICO project management: $500 — $12 000 per month
· Community manager: $15 per hour (possible to find a specialist or a team for $1500 per month
· PR and marketing: if you don’t have a person who “bites” for free media publications, then the prices for information listing can vary from $400 to $15 000 (cointelegraph listing costs around $7 000)
· Smart-contract development: $600-$6 000
· Legal services: $15 000-$60 000
The total ICO launch budget (with time limit of 3–4 months) is $21 000 — $110 000 (not counting the marketing expenses and cost of the commercial publications)
It is worth mentioning the work of the agencies. The vast number of advertising agencies following the public hype consider an ICO launch as a separate service which they provide. Also many teams and advisers began to specialize in this particular service.
Unfortunately it is quite difficult to pick out the agencies that can implement a successful ICO launch now as there is a part of the process that is hard to handle: work with the investors and community. In this case the boutique agency pattern can work or you can ask the teams that have already successfully established the investor base for their assistance. Only two companies stand out for now: ico.info and elementgroup.com
It is essential for the investors and the teams that are about to run an ICO to pay special attention to the solutions working on the automatization of this process.
In Russia the companies which are actively working on the market and have the operating product now are listed below:
· Icobox.io — packaged solution for an ICO launch (it’s a full-service agency)
· Kickico.com — working on the kickstarter analogue for ICO
· Etheart.io — the platform for crypto-asset investments (emphasizing the safety and accessibility for the investor).