3 Cool Ways to Attract Investors to Your ICO
by: Michael Andrzejewski
ICOs are all the rage right now with dozens of new blockchain projects appearing on the scene every single day. An ICO (initial coin offering) proved a fantastic way to help fund some of these new projects in 2017. According to CoinSchedule, only two months into 2018, we’ve already seen 52 ICOs launch versus 211 in all of 2017. However, with so many new concepts getting tokenized, investors have begun to get choosy with their money. That’s why any new cryptocurrency desiring to attract investors to their ICO should consider these three principles.
1. Solve a legitimate problem with blockchain tech
Hopefully before any business savvy developer goes too far down the crypto rabbit-hole he’s taken a look at why he wants to create a new cryptocurrency, and he’s determined that creating a decentralized database will positively disrupt an industry.
Once that hurdle has been cleared, the onus now shifts to communication. Potential investors want to know why your ICO will revolutionize that corner of society. If any other technology besides blockchain has solved your ICOs problem, or if you can’t clearly communicate the need for the tech, most smart-money investors will sniff that out before you ever announce the ICO’s launch date.
If you have one without the other — problem solved without communication, or communication without a problem solved — your ICO will have tough sledding ahead.
2. Build, build, build
Developers build cryptocurrencies. They take an idea and put keystrokes to code, literally creating something from nothing. Although that’s exactly what Satoshi did 10 years ago, if that’s all that’s happening today, the project will die a slow painful death.
2018’s ICOs need a solid, transparent, and experienced team. Not one single ETH will magically appear in your ICO’s wallet without you first proving that you’ve got a legitimate plan with a legitimate group of leaders involved.
Investors also want an MVP. That Minimum Viable Product may also turn into your Most Valuable Player. Money is hard to come by when an ICO has a 10-year roadmap and an MVP only arriving in year two or later. We live in a microwave society, and crypto-investors mirror that “now” mentality. Have an app in beta when your offering begins and investors will see both the light and the end of the tunnel.
While simultaneously establishing a team and an MVP, every future ICO should start building a community. Social media followers are potential rainmakers. Right or wrong, the more followers you have, the more credence it lends to your project, and the more money it will attract. An ICO with a community of 1500 in Telegram won’t succeed against a competitor who has a following of 15,000 in the same media.
3. Plan for Exchange Listings
While an ICO can’t publicly comment on the specifics of future exchange listings, that doesn’t mean that they can’t properly plan for these listings. This means setting aside a percentage of ICO funds to get listed on both larger and smaller exchanges. For more specifics, read about some tips to get your token listed on exchanges.
Targeting geographically diverse exchanges allows your blockchain project to tap into huge populations around the globe that would likely see your tech as an attractive investment. Reaching out to exchanges in Europe, China, and Japan will open up those investor bases and facilitate their involvement and investment. Because cryptocurrencies reach as far as the internet does, successful marketing plans have to follow suit. ICOs can’t afford to possess a North American-centric mindset towards exchanges or investors.
Finally, while the subject of wallets doesn’t fall under the heading of exchanges, it does carry significant weight in terms of planning and marketing. Development of mobile wallets grows weekly as crypto adopters have started to see projects more through the lens of use cases and slightly less as just another investment.
Working out deals with wallet developers to get support for your coin could let you offer your community more than your competitors are offering. Frankly, a cryptocurrency without multiple wallet options doesn’t inspire a significant amount of confidence.
AssetRush specializes in exactly these sorts of marketing relationships. They work with ICOs to help them get listed on exchanges and promote tokens to numerous wallet services. If your team requires next-level expertise, contact their knowledgeable team led by co-founders David Booker and Jenny Goldberg with any questions you might have.