Blockchain-based crowdfunding campaigns have become a popular fundraising method in recent years. With the rise of cryptocurrencies, Initial Coin Offerings (ICOs) have become a popular method of raising funds. However, successfully launching an ICO in 2023 is not an easy task. In this article, we’ve put together a quick guide to launching a successful blockchain-based crowdfunding campaign, regardless of the type of campaign you choose.
Creating a White Paper
One of the essential steps in launching an ICO is creating a well-structured White Paper. It should contain a market overview, project mission, business model, tokenomics, token generation event, roadmap, project team details, and links to social media. A well-written whitepaper can make launching an ICO much easier. However, it should be well-structured, easy to understand, and contain all the necessary details so that investors can fully understand the project and fundraising idea. It should be between 10 to 50 pages long.
Assemble a Reliable Team
Building an experienced and reliable team is another important step in launching an ICO. The people you hire should bring value to the project, have relevant experience, and ideally have gained a reputation in the blockchain industry. Including the names of key team members on the project website and technical documentation and adding links to their personal LinkedIn or Twitter profiles can increase the credibility of your project.
Find Experienced Consultants
Consultants are just as important as the core team members, as they have a significant impact on the development of the project throughout the entire journey. Finding the right consultants long before the ICO launch can help you get the most out of their experience and valuable advice from the first steps of your project. Including consultants to your landing page and White Paper is also recommended, especially if the team doesn’t have much experience.
Choose Your Own Fundraising Strategy
Deciding on your fundraising strategy is crucial. How many investment rounds will you have, and will they be private or public? If you decide to hold at least one private round, which investment funds are you going to approach, and how will you present your project?
Prepare a Marketing Plan
Creating a marketing strategy and choosing the most suitable platforms to promote your project is also crucial. When launching an Initial Exchange Offering (IEO), the exchange platform will handle some promotion of your project. However, in the case of an ICO, all responsibility will fall on your shoulders. The marketing campaign should cover all stages of project development, including pre-launch, launch, and post-launch.
Preparing to Launch an ICO and How Much It Costs
For an ICO, you need to launch your platform. The cost of launching an ICO can vary significantly depending on many factors such as the complexity of the project, the chosen blockchain, the level of legal support, marketing costs, etc. The total cost of launching an ICO can range from $25,000 to $200,000 or more, depending on the complexity of the project and the services chosen.
Stages of the Offering
The ICO takes place in several rounds. There is a private sale where a White Paper and project roadmap are created and published, and reference investors are sought to invest. Next is the pre-sale stage where demand is studied actively. Finally, the main stage takes place where the main goal is to raise funds.
Conclusion Launching a blockchain-based crowdfunding campaign requires careful planning and execution. With this quick guide, you can launch a successful blockchain-based crowdfunding campaign, regardless of the type of campaign you choose. With the right attitude and following the steps we’ve described above, you’ll have a high chance of success.