What are the best ideas to launch crypto token ICOs? Initial Coin Offerings or ICOs typically is the process in which a company sells off its assets, or tokens, in this case, to collect fiat currencies to fund a specific project.
Sometimes, it may also be collected in specific crypto coins such as Ether and Bitcoin.
When looked at it from another perspective, an ICO offers the investors a chance to access the project that is slated to be introduced to the market.
If you want to launch a crypto token ICO for your company, technically, you will not need a plethora of things.
Just a website and a few coins will be able to get it rolling but whether or not it will be successful is another matter and is not guaranteed.
For this, you will need to have a great idea to follow to launch your crypto token ICO.
You will also need to have some precautionary measures in place to keep it safe from corruption and turbulence after its launch since millions of dollars have been lost till date through ICOs.
Therefore, you will also need to know the tips to launch your crypto token ICO successfully.
This article will help you in launching your ICO safely and successfully by following the best practices and ideas of the experts.
This will ensure that your ICO is not considered to be a scam but is noticed by the potential investors and gets its job done for which it is created.
- 10 Best Ideas to Launch Crypto Token ICOs
10 Best Ideas to Launch Crypto Token ICOs
Over the years, ICOs have shown their powerful potential in fundraising.
Right from the first launch of it in 2013, it has proved to be quite an exceptional method to raise funds for several organizations, startups, and projects.
It has, in fact, revolutionized the idea of crowd sales and public funding. Check out Best Ethereum Project Topics and Ideas.
Here are some of the most successful ICO ideas to launch your crypto ICO along with some tips and tricks that will help in your ICO launch significantly to make it a success.
1. Most Successful ICOs
Knowing the potential of ICOs should be the first step. This will enable you to know whether or not an ICO is suitable for you.
You should follow some of the most successful ICOs to get a fair idea about the fundamentals of your ICO design as well as its launch. These are:
- Ethereum – This ICO is considered to be one of the pioneers being issued in 2014. It collected nearly 18 million dollars in just 42 days and by 2018 its token became one of the most valuable ones of the ecosystem.
- EOS – This practical alternative to Ethereum raised about 185 million US dollars in just five days after the launch of its ICO. It has a more comprehensive ecosystem that lets the developers function seamlessly without caring too much about cryptography implementations. It provides them with internet application tools, account permissions, databases, scheduling, and authentication.
- IOTA – This ICO was made in 2015 and collected a respectable amount through it but it is its high ROI of 332,500% that made it so popular among the early investors. It is also very unique since it combines elements from blockchain technology with the Internet of Things to conduct dealings.
- NEO – Also launched in 2015, this Chinese Ethereum is not considered as one of the largest ICOs. However, it has also raised funds in millions and provides an exceptional ROI. The main reason for its success is the support and confidence that it has from some of the high-profile and prominent entities such as Microsoft Corporation and the Chinese government.
- Stratis – This platform is based in the UK and is compatible with many programming languages. It also allows businesses to build, test and install custom applications. The ICO raised about 1000 Bitcoins in 5 weeks with most of it coming from the last day of the ICO. It amassed a respectable amount and offered the investors a 20% bonus and a staggering Return on Investment of 81,000%.
Apart from the above coins, you can also follow the ICOs of NXT which is one of the earliest and most successful ICOs, ARK that allows quick integration of other crypto coins in its blockchain, and LISK that allows developers to create apps and is one of the primary modular blockchain platforms.
2. Successful ICO Token Type
Now that you know about the potential of the ICOs, focus on the type of token to issue.
Typically, you should choose between utility tokens and equity tokens but before finalizing one, you should know about the two types of tokens in detail.
If you choose to issue utility tokens in your ICO launch you should make sure that the product is priced at more than twice the cost of making it, even if the price of the competing coins are cheaper than that.
The primary reason for this is that the utility tokens tend to generate far less profit in comparison to the equity tokens.
As for equity tokens, the situation is a bit different though the price may be double the cost of making them. Here the token holders will be more like shareholders and eligible to share future profits.
Therefore, they will be more interested in investing. This will make your ICO launch a success, but make sure that you do not sell off all the tokens during your Initial Coin Offering.
No matter whichever type of coin you choose to issue during the ICO, make sure that you save more than half of it for the third stage or the market.
This will ensure that you do not give away more revenue-sharing rights to the people during fundraising.
3. Token Sale Model Ideas
After finalizing the type of token to issue for the ICO, you should choose the right type of sale model for the same. Here are a few that you can choose from.
- Soft Caps – It is the minimum amount of funds your ICO needs to raise in order to be successful or else the investors will ask for a refund.
- Hard Caps – It is the maximum amount that you should aim to raise and once you reach this level you should stop your ICO.
- Capped Fixed Rate – It indicates the duration of the ICO where you limit the number of tokens available as well as offer a fixed ratio of token-to-crypto exchange on a first-come-first-serve basis.
- Uncapped Fixed Rates – In this model, there is no restriction on the number of coins and contributors or on the duration of the ICO. Here, early contributors can be offered a discount.
However, you may even think out of the box and go for a mix of token sales models that will work best for you but make sure you do not overcomplicate things to put off your potential investors.
If you want to use smart contracts, you can go for the Dutch auction model where you do not have to set the price of the token in advance.
Here bids are accepted till all tokens are sold and the higher bids get the priority.
4. Whitepaper Creation Ideas
You can take an idea from the 8 successful ICOs mentioned above to create an impressive whitepaper.
Make sure that you use a position paper because it is much shorter and more focused. Position it at the center of the website and include all of the vital features to instill trust among the potential investors.
The key features that your whitepaper should include are:
- Market research
- Product roadmap
- Team overview
- Information on sales model and
- Token economy
This will ensure credibility and not need much advertising of your product.
5. Location Ideas
You will need to choose one of the best locations to launch your crypto token ICO to make it a success.
Make your selection on the basis of the rules, regulations, and policies followed by the country of your choice or domicile.
For example, if you target the US residents, you should be aware of the SEC regulations.
It is always best to choose a location that is ICO-friendly such as The British Virgin Islands, Singapore, Lichtenstein, Hong Kong, and The Cayman Islands.
6. Focus on Teamwork
Now that you have a clear idea and vision for your ICO launch, you should focus on creating and following an articulated roadmap with specific steps to follow during and after the launch.
First, create a team. An ICO launch will seldom be successful if you do not work as a team.
This will ensure a collection of skills and expertise which will work in favor of your ICO ensuring its success.
Get some advisors with a law degree and experience in ICO, growth hackers, engineers, as well as an open-source community roped in.
The team will be able to advise on insurance, finance, business development, and more to build a strong foundation for your ICO and also add to its credibility.
7. Work Out a Public Communication Channel
You will need to reach out to as large an audience as possible and there is no better way than to work with your community to do that successfully.
Ideally, anyone interested in crypto and blockchain, with or without a wallet, should be considered as a potential investor, and there are lots of such people on social media.
Therefore, apart from being active on different social media platforms, you should also work out an efficient public communication channel. This is very important as you will need to stay in constant touch with your contacts.
Also, look beyond the online audience and digital realm in order to pitch your ICO to the industry experts.
Attending conferences, seminars, and different events related to crypto will make you as well as your ICO launch idea more competitive.
It will help in much more effective broadcasting without requiring creating unnecessary or false hype.
8. Plan and Execute Well
You must plan your ICO launch well. You should also make sure that you execute your plan well.
This is quite important in this matter because launching an ICO is surely a time-taking task.
However, if you only do it in a much more organized manner it will be immensely successful in generating enough capital for your company.
You will need to go through the immense wealth available in different resources on the internet to know more about each step of the planning process.
If you feel at any point that you lack the necessary expertise and confidence, do not hesitate to take help from the experts outside your company as well.
This will minimize or even eliminate the challenges involved in the process.
Remember, proper planning and execution will not only get your ICO noticed but will also raise the confidence of the would-be investors.
9. Promote Your ICO before Launching
There are lots of different ways to promote your ICO before and especially immediately after its launch, both online and offline.
Here are some of the great promotional ideas or suggestions that you can follow to make your ICO a success.
If only you have a good website you will have a strong foundation to promote your ICO. Since digital marketing is prominent now, having a well-designed website is the key to creating a great impression on your target audience.
Therefore, before the launch of the ICO, create an optimized website that is not cluttered, easy to navigate, and contains as much necessary information as possible.
You can also draw a lot of attention and awareness about your ICO through carefully planned and timely airdrop campaigns.
People will love to have free tokens and will be more encouraged to learn and use your crypto tokens.
Participating in trade shows and other events related to crypto are good ways to promote your token and raise awareness about your ICO launch among the common people as well as the top companies.
Since an ICO launch is a major event, make sure that you publish it on calendars.
This is one of the most efficient and common tools that the investors use most often to track different activities of different companies more proactively.
It will also portray that your company is transparent and, in turn, help in convincing the potential investors.
Also, use one or several of those instant messaging applications to engage your audience and share information quickly in a concise manner.
Make sure you use those platforms only where there are large numbers of active crypto communities. This will enhance your chance to build a larger network.
Focus on crypto influencer marketing and partnerships as well to make your ICO promotion much smoother and more effective.
If you can partner with well-reputed influencers and financial institutions who believe in your coin there will be no better way than this to build trust among people.
You can also inform the potential investors about the features, benefits, and details of your project through podcasts and interviews.
This will do wonders in your promotional efforts because audio and video content has always worked much better than written content.
Therefore, capitalize on its benefits by releasing podcasts and interview videos on a regular basis to keep the audience engaged.
Finally, optimize your marketing campaigns with paid advertising and promotions.
However, look for platforms other than Facebook and Google since these mainstream platforms do not allow ICO ads.
You can take the help of one of the several online marketing services as well for that matter.
10. Ensure Post-Launch Success
There are lots of ICOs launched but most of these fail to raise enough funds.
If you want to prevent your ICO from being unsuccessful, you should focus on the factors that will ensure its success, post-launch.
The utility of the coin is very important and therefore you should make it a point that the coin is not just a commodity that can be bought or sold on an exchange.
The best idea is to show a visual prototype of the project to the potential investors to know its functionality and benefits. This will help in customer acquisition.
You will need some strong PR and effective communication strategies to follow to make your creative idea a success.
Make sure all these are holistic and easy to understand to increase the chances of success of your ICO manifold.
Community support and being active on social media along with several discussion forums will also let you increase your chances of success significantly.
Make sure that you are present on different social media channels like Telegram, Reddit, and others so that you can reach out to more prospective investors to generate a larger pool of funds.
Finally, ensure that audits are done by independent auditing advisories.
This will not only increase the inherent trustworthiness but will also prevent scam artists and fraudsters from preying on less-informed or overzealous investors.
Once you have the trust of the investors they will be willing to invest.
Also, audits will help in uncovering the latent issues with your ICO that may include the financial model, the legal structure, forecasts, and corporate governance.
It is quite a complicated process when it comes to launching an ICO. The suggestions mentioned above are just the initial part of the entire process.
It is now left to do more research before you launch your ICO.
I have special interest in crypto and intend to help common people to gain knowledge about the digital asset as well as its potential. Follow Me at Linkedin.