The truth about ICO projects

Lawrence Stoican
Aug 22, 2018 · 4 min read

While ICOs come in many shapes and sizes, with whitepapers ranging from 10 to 50 pages and a myriad of different marketing campaigns, there is but one thing which is kept secret from the eyes of the public.

As a community manager across ICOs, I aim to provide some insight into what many of these projects don’t want you to know!

  1. Community Managers don’t get paid sh*t!

When I entered the scene in the summer of 2017, the position and honour brought over with being a community manager was not one to look down upon. Many people within these roles raked in nice fiat and cryptocurrency amounts, perhaps enough to even call it a small fortune.

However last winter along with the homecoming of the oh-so-despised bear changed everything. Sure, community managers are still aplenty, and they still get paid in tokens… so looking at the surface of it all nothing really has changed.

So first of all clients aren’t willing to pay up in ETH, BTC or even fiat at this point… at best they will do a 50/50 between Ethereum and their own unlisted sh*tcoin… at best. Nowadays we’re just working for free! Back in the days there was no problem in getting paid with custom tokens… at best they would gain traction/value… at worst they would retain that value, and most importantly: they had trading volume!!! How am I supposed to eat, pay bills or even survive with tokens that no one wants to buy?? off an exchange that no one even knows about! Come on folks, sh*t is for real now.

2. Public Sales are harder than ever before.

Piss-poor, illiquid wages is not all that the bear has brought us. We’ve also been gifted with the most radio-silent, dead markets than ever before! Trading volumes are low as f*ck! No one wants to buy anything, especially not unreleased tokens which are bound to get rekt as soon as they get listed on Binance! Check out some of the examples:

Binance listing of DOCK on July 30th.
Binance listing of DENT on July 6th.
HADAX( Huobi) listing of MAN on May 5th.

Well, so back to the point. Ask me what it’s like to sell sh*tcoins to the public during this market and I’ll answer with: “It’s like selling ice to an eskimo, sand to an Arab and water to a whale… except there are no whales left!!! The goddamn bears killed them all”. So for the odd stranger who does stop by on Telegram nowadays… thank you! You give me hope in life. ICOs now are all about hitting that private sale hardcap and possibly getting people to buy in the public sale.

3. Standing out

Many of these projects request that they stand out from the sea of ICOs, projects and blockchain prospects… yet when asked about marketing campaigns they’d like to do exactly what everyone else is doing, because ultimately all they care about is numbers and growth! There are telegram channels with 30, 40, hell even 60k members which are just plain dead silent because of their bounty reward to add “friends” into the group. Really now? You knew this was just going to attract a bunch of people to add in bots and claim the highest bounty reward possible. Good job. It’s 2018… forget about organic growth and real promoting strategies! What you really need is numbers so you can “wow” your private investors and bait them into giving you as much as you can squeeze out of their poor souls!

Thank you.

Lawrence Stoican

Written by

Community Manager and Freelance writer | Blockchain is my city