Part I
Roots. The First Mistake.
We failed our ICO. It could be the end of the story, but in this case scenario you would never know how it all began, turned out and the things you should NOT do. Minor accords are twinkling above Alphateca ICO; nevertheless, it was a huge experience, and we want to share our story with new crowdsale participants.
It had begun long ago. A lot of happy thoughts were jumping in my head thinking how cool it would be to implement any platform with a convenient, safe and simple way of trading. Certainly, there’s eBay and Amazon, Avito and Alibaba, as well as many other platforms. Still, you can always do better; they have a sufficient number of inconveniences, and they do not use cryptocurrency, which has recently started penetrating into all spheres of life.
We aimed to implement a blockchain platform that will allow people to trade without borders and restrictions, as well as give an opportunity to create or transfer one’s business using numerous services without leaving one site.
So. Having gathered all available forces and the team, we began to carry out the project. Indeed, I realized it would be challenging to use own efforts of the team only regarding such a large-scale project. International marketing is a kind of notorious story. That is why I decided that an adequate way to attract resources for the company will be an ICO, and the implemented tokens can be used to purchase paid services on the site.
As far as our ICO was not the final stage of our project, we are still planning to develop, regardless of the result. Let me remind you that first, we created the alpha-version of the product, and then launched the ICO, expecting to increase loyalty to the company due to the possibility of investing in a ready, tangible product.
We were skilled theoretically, but we have never had any practical ICO experience, so the lumps still go. The ICO date started precisely a month later from the launch of the alpha version which took place June 1, 2018. So here we go — mistake number one.
Mistake №1: While choosing the ICO date, take into account not only the readiness of the product but also the seasonality. There are always months with a total stagnation of ICO.
Author: Ilya Stenkov, Alphateca founder
Originally published at support.alphateca.com.
