Coinschedule said that 237 ICOs were launched in 2017. And if it is considered that the reports have managed to attract more than 3.7 billion US dollars. Newly created companies want to use ICO to eliminate the exhaustive and complex process of raising funds. They want to attract investors through ICO, and investors are also looking for a project that will bring maximum benefit.
Fundraising through ICO is a fairly successful market trend and has led to some success:
Ethereum, with its concept of smart contracts, successfully raised $ 18 million fairly quickly. The price of their chips dropped from $ 40 to $ 14.
In 2017, Filecoin collected $ 257 million.
However, ICO’s success stories are very limited, and the list of failure stories is long and heartbreaking. For the following reason, ICE has a higher failure rate:
Bad brand identification
People tend to make a subjective decision and do not even think that they will make a subconscious decision about their brand as soon as they are exposed to it. They will judge how you see your brand logo, fonts, visual elements, color. Every little detail somehow says something about your ICO. For example, if the design of your logo is not attractive or if a team of professionals does not design it, and you ask for $ 100 million, people will inspect your ICO and think that it looks like a scam. Do not ignore the value of white ico paper and white ico pattern in barrel package.
Inappropriate and objective budget
People are curious and out of curiosity, or you may say out of habit that they will ask how much investment is needed to increase the amount of fixed capital. Experience says that the percentage range is from 5% -10% of what you are trying to increase. In short, if you want to raise 50 million dollars, then you will need an investment of 2.5-5 million dollars. If you want people to believe in your project, set achievable goals. When your goals are understood by the general public, they will honestly invest in your idea and help you achieve your goals.
Lack of information and management
If ICO is your first business, you should not lose sight of the value of reports and analysis. If you are among people whose first real business is an ICO, do the necessary research and ico to invest your time in Google Analytics.
If you want your ICO to be successful, remember these points. Invest carefully in ICO and before investing, conduct detailed market research. Carefully write your white document for ICO.