ICOs are becoming an important way for emerging blockchain tech companies to generate interest and raise funds. This has led to a series of self-regulated ICO guidelines to which each blockchain team adheres when releasing a product. One of the strictures is to write an ‘ICO white paper’.
White Papers are highly trending in the marketing world
White papers have been a popular marketing tool in the field of business and politics. Corporations aim to sell information or new products as solutions to their customers by posting a white paper online. An ICO white paper is a document which describes the technology, uses and risks of a blockchain project. Generally it contains:
● Technical Analysis
● Marketing material
● Business Plan
● Emission Model
A successful ICO white paper will deliver all the above parts and be able to stand up to extreme scrutiny, both, by prospective clients and investors. To ensure a positive reputation for your project, its essential to have a well-drafted white paper through professional agencies with past experience in the space. If the white paper is badly written, it can seriously damage the reputation of the project and consequently destroy the ICO.
Let us see how we should write a white paper with fruitful information that we have in our database to ensure a positive investment sentiment and excitement among the crypto-sphere.
Jot down the difficulties and problems before drafting the White Paper
The key to pretty much any successful start-up is pinpointing a problem that people face and finding a solution to that problem. The world of blockchain is no different. At the inception of your ICO white paper, you want to outline a problem in a way that’s relatable and understandable, and in plain English for buyers to engage with.
Why is this so important?
Well, if your readers can’t see the need for your solution, everything else in your document is an absolute waste of time.
Importance of a Good White paper
The market is flooded with hundreds of ICOs. Thus, simply launching an ICO will not be enough to raise capital for your project — your ICO needs to show a concrete roadmap for the future including how you plan on utilizing funds. Thus, your white paper not only serves as a marketing document, but as your business plan for the future as well.
You also need to make your white paper a good informational guide as most of your investors will be looking at it prior to investing in your company.
Your white paper must focus on the following key areas:
1. Problems or challenges in the existing market
An effective ICO white paper will start by describing problems or challenges in the existing market. This information will lay the foundation of your white paper and generate interest among future clients who expect a certain problem, which they are facing, would be solved in near future.
2. Make your project shine with the perfect solution
You have to suggest a solution to the said problem and convince your investors of the value of your project. It is also essential to explain how your project is different from that of your competitors, how your potential investors can gain from your idea and provide an analysis of the current market economics.
3. Description of the product
In this section, you will talk about the following:
● Technical specifications of the product you are launching.
● The infrastructure behind it.
● How you are going to develop it in the long run.
● Roadmap for your company.
● Information about the working prototype.
4. Product commercialization
ICO uses cryptocurrency at its core to commercialize the product.
You should talk about the elements of tokenizing your product and how it will affect the economy. You will also need to include financial roadmap as investors are interested to know how you plan to use their money for development and growth.
5. Who will implement the project?
Obviously, the team members will implement the project!
Simply answering in this way is not sufficient because investors want to learn more about the faces behind a project. They want to learn about the background and skill set of each team member and the value that they bring to your project.
6. Token distribution and Future Plans
You need to give a breakdown of your ICO token issuance in this section. This should include details regarding your crypto tokens, including their value, how many you intend to use, and which crypto token platform you intend to issue them on.
Finally, make sure that your White Paper reflects both your company and your offering with the style and image that you want to become known for. The earlier you build your brand and make an awareness, the better your offering will do it.
Sate Development’s white paper services ensures a quality white paper from experienced professionals, delivered in a limited time frame With an experience of over 35 white papers, Sate Development is a market leader in constructing an effective white paper and ICO Strategy.