It is no secret that the world of cryptocurrency and blockchain technology, in general, is precarious and uncertain. Numerous developers and investors are very enthusiastic about the great potential of cryptocurrency to agitate the technology space.
However, we can speak about confident investors who were unfortunate enough to lose their fortunes on bad ideas and counterfeit schemes. Prime examples of it are famous ICOs or the Initial Coin Offerings. For every multiple launches of tokens, numerous projects haven’t produced anything but vaporware and hype.
But before we continue with essential elements mandatory for an ICO to be successful, let’s briefly explain the meaning of ICO and its calendar, shall we?
Initial coin offering and ICO Calendar -Tips on successful initial coin offering – explanation
As you probably know by now, initial coin offerings refer to the prevalent method of fundraising, most commonly used among startups. It’s known to be the industry’s equivalent to the initial public offering (IPO).
The ICO calendar exists to give traders an insight into the currently active initial coin offerings in a table. It’s shown with sortable columns that present information about start/end dates and the raised funds and progress toward ICO’s completion.
So, the big question is what it takes for ICO to be successful? Whether you are an investor or a startup founder looking for investment opportunities, you’ll all want to understand the essentials for the success of initial coin offerings. Keep in mind that it’s elementary to spot the warning signs of a scam in this field.
The importance of the White Paper
You need to remember that reading and analyzing the White paper of a prospective investment can be of great significance. We are speaking about the document that outlines the strategies and aims of that project in detail.
Some projects may indeed lack crucial details that make you question their feasibility, while others might have fantastic ideas but lack practicality for achieving them. Note that a good and quality Whitepaper cannot guarantee success.
However, an incomplete one, with grammar mistakes and issues with formatting, can open your eyes to spot some red flags and troubles to come. A quality Whitepaper includes a roadmap of concrete goals and timeframes for achieving them.
The business case
It’s up to you whether you’ll research a new business or any likely competitors. Note that it’s a very common pitfall that numerous startups struggle to stand out. If a startup is trying to launch an ICO in a saturated market, there has to be a thing that singles it out from the competition.
Ask what service the firm is planning to offer and is there enough demand to support it. If a company doesn’t include any competitors, it’s a clear sign that many other businesses aren’t thinking about a model as the profitable one.
Conclusion -Tips on successful initial coin offering – the team partnership
Take some time to research the people who are leading the project and those who are advisors and partners. It’s a crucial factor for launching startups. Those who have vast experience in founding startups are less likely to face the pitfalls. Reputable partners are always a sign of market validation.
Don’t forget to verify their claims from other sources. It’s no secret that some projects are famous for exaggerating the quality of their teams and fabrication of nonexistent partnerships.