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A Complete Guide For Successful Pre-launch ICO Marketing

A Complete Guide For Successful Pre-launch ICO Marketing

An Initial Coin Offering (ICO) is a process of raising funds for a crypto project. It is similar to an IPO, where investors purchase company shares. ICO marketing’s best practices involve utilizing a set of tools designed for promoting an ICO chain, with the primary goal of attracting as much attention as possible and accumulating financial resources.

How To Promote Your Initial Coin Offering (Ico):

There are several steps involved in initiating a pre-launch ICO marketing strategy. The listed below are the primary steps to achieve a successful ICO marketing strategy.

Read also: How to Promote Your ICO: 3 Useful Tips

A well-designed website can act as the foundation for the pre-launch ICO marketing strategies. A good website provides an impression to the target audience. The website should be well-optimized, easy to navigate, and with a simple design that will enable visitors to extract as much information as possible in the shortest time possible. A website that has a lot of unnecessary information can drive visitors away which will hurt the impression of the user’s ICO marketing.

To Post Everything About Ico On The Website:

Providing as much information as possible about ICO on the website creates trust among the visitors hence promoting the user’s ICO. Easily accessible information also attracts quality traffic to the website. And to tap this quality traffic, ensure that the website is provided with a call to action function where investors can invest in the pre-sale.

Use Social Media To Reach The Cryptocurrency Community:

Social media is an essential tool for the success of a pre-launch ICO marketing campaign. The difference between the success and failure of an ICO lies in how the communication about the user’s ICO is delivered to the target audience. Social media platforms provide a great opportunity to promote the ICO project and build trust among the community and potential investors.

Some of the commonly used social media platforms for the promotion of ICO marketing strategies are listed below.

Facebook:

There are many Facebook groups and pages that discuss blockchains, ICO, and cryptocurrency. This would be a good social media platform to update the community and build the ICO.

Reddit:

Reddit is one of the largest social media platform communities in the world. Reddit exposes the user’s ICO to the largest community of cryptocurrency. Users can tap into this exposure by creating subreddits as well as commenting on the already-created threads.

Telegram:

Telegram holds the potential of being the next big performer in community building and messaging. This platform is growing each day and has been embraced by the crypto community. This makes it a must-use platform for ICO marketing.

PR and Media Outreach:

Once the website is ready, the user needs to do an extensive public relations outreach. The best and most effective method to give your pre-launch ICO marketing project a large outreach is the use of press releases. There are several top-tier websites that the user can approach to publish the press release. Some of these sites are specific to crypto and therefore help the user to reach the intended audience. While most of these sites require the user to pay a premium, there are other outlets that will be happy to publish quality well-written content for free.

Read also: Steps To Launch Your ICO

In order to maximize the outreach, the user needs to do prior extensive market research and create good relationships with top-tier websites. The secret to doing it yourself lies in creating good content that can go viral easily. When you pitch editors and publishers by email, keep your outreach consistent and credible with professional email sign offs.

Key Elements For Success:

The user may choose any marketing strategy to promote his/her Initial Coin Offering (ICO), when there is heavy competition, the user should focus on the key elements that would give them the edge over their competitors.

The listed below are the key elements for success:

Target the appropriate audience:

Despite the rising popularity of cryptocurrency, it does not mean that all masses should be targeted for the promotion of ICO. The user will end up spending a lot of time and resources for very little response. In order to be on the right track, ensure to understand the target audience and direct the efforts to that particular group. Segmenting the audience helps the user in choosing the right marketing campaign for each group. This way, the user receives better results.

Seek advice from ICO marketing service agency advisors:

An ICO expert has the required experience to help the user to promote the ICO. Therefore, the user should retain an ICO advisor to assist in overseeing the project. This will reduce the losses that come with putting efforts into non-productive ventures.

Make the offer to be transparent:

The most important thing to make an ICO successful is to make it transparent. Transparency creates trust and confidence in the buyers, which increases the funds collected during the initial offering. To create confidence among buyers, give information to all team members behind the project. The user should also give all financial information. Making people ask questions about the ICO is a crucial step. So, the user should make sure to have a very responsive team on all online platforms to respond to potential buyers’ questions and concerns.

To make an ICO compliant:

ICO is a relatively new venture, and as such compliance is very important. There is a need for any ICO to be compliant for potential customers to think of investing in it. If the user wants to be successful in this field, he/she must make sure to follow all the guidelines from the word go. This will help the user to make his/her ICO strategy successful.

Blog Credits: Medium

Crypto Airdrop Vs. ICO

Crypto Airdrop Vs. ICO

Airdrops and initial coin offerings (ICOs) are only two of the many entrances points bitcoin startups use daily.

Free tokens of a new or even an existing cryptocurrency are sent to participants in an “airdrop.”

Suppose they meet the criteria for the airdrop. Any new and old cryptocurrency can be used for this purpose.

The condition might be that they do certain tasks to aid the project’s development, have a specific cryptocurrency, or have just used a service.

This essay isn’t only about airdrops; there’s a lot to know about crypto and NFT airdrops if you want to earn free tokens or coins.

First Coin Offerings (ICOs) are distributed to the crypto community like airdrops to gain exposure for a new cryptocurrency venture.

They also facilitate people’s ability to invest in the nascent bitcoin market. But an airdrop is not the same as an ICO platform.

The Distinctions between Airdrops and ICOs

One fundamental difference between an ICO and an airdrop is that ICO participants are not obligated to make any financial investment, but airdrop participants are.

If someone contributes to a project and does a good deed, they can be eligible for an airdrop as compensation.

For example, the Uniswap decentralized exchange airdrop of 2020 gave all participants 400 UNI tokens as a gesture of gratitude for their prior involvement with the platform.

None of the recipients paid for the tokens; all they required was a track record of using the Uniswap DEX.

Participants in an initial coin offering (ICO) can pay for tokens with either fiat money or another cryptocurrency, such as Bitcoin or Ethereum.

Initial coin offerings (ICOs) are a way of crowdsourcing funding for the launch of a new company.

Read also: What is the ICO and How Does it Work?

At the same time, airdrops incentivize users to engage in the project and, in most instances, use their obligations as a form of free advertising.

Why is a Crypto Airdrop important?

The Uniswap airdrop is a good reminder that airdrops can be used to encourage new users to join a platform and reward loyal users for their continued support.

In honor of the introduction of Stellar XLM on the Blockchain.com wallet, the business has given two billion XLM tokens to verified Blockchain.com customers.

Each user’s wallet was credited with 100 XLM at $25.

For this purpose, airdrops are often organized to reward loyal consumers or to attract new users to a business.

In either scenario, it serves to increase membership by attracting attention and acting in a way somewhat unlike a public relations stunt.

Why is an ICO important?

First and foremost, an ICO serves to raise funds for a new business. Most ICOs are conducted by startups or established enterprises that restart their fundraising efforts.

But why does every project have to start by seeking to get capital?

When a cryptocurrency company needs to raise money quickly, it can hold an initial coin offering or ICO.

As a result, every cryptocurrency startup’s founder has the financial means to fund the venture from the outset.

Ethereum, which started as an ICO, is currently the second most valued cryptocurrency, behind only Bitcoin.

Speculators swapped their Bitcoin for Ethereum because they believed the latter would be worth more if the successful undertaking.

It did, fortunately; nevertheless, this is not always the case, and blatant scams sometimes occur.

In some cases, projects are formed only to scam unsuspecting investors out of their money in exchange for worthless tokens that the project’s designers do not intend to use.

This has made regulators wary of ICOs, leading to a significant decline in popularity.

Read also: What are Some of the Benefits of an ICO?

Most ICOs have been replaced with safer and more reliable fundraising processes like IEOs, IDOs, and DEXs (decentralized exchanges).

To Sum it Up

In the last several years, airdrops have seen significant evolution.

Once they were as simple as handing you free tokens once you completed a few simple tasks, but now that is not the case.

Competition to participate in airdrops has increased as awareness of cryptocurrencies has grown.

While most ICOs welcome anybody who wants to join in, they have certain limitations, especially because of the necessity for investment.

Blog Credits: Medium

10 Steps for Launching an ICO

10 Steps for Launching an ICO

ICO started booming around 2015 and 2016, raising ridiculous amounts of money, and putting traditional fundraising platforms like Kickstarter to shame. Many ICOs didn’t even have proper White Papers or any working prototypes but yet managed to raise millions of dollars. I know of people who just dumped money into any ICO without even reading the White Paper, hoping the token value would go up post-ICO. There were also many YouTube videos teaching people how to scam money using ICO. It was crazy.

By the time you are reading this, the ICO platform climate has changed. Many countries are starting to regulate or ban ICO and people are becoming more informed about what to look for in an ICO before investing in it. To have a successful ICO today, you need to have a great idea and a lot of preparation. The amount of effort you put in will reflect on the result you get out of it eventually.

Step 1: White Paper

I’ve seen many White Papers that exist for the wrong reason. Many White Papers are marketing papers. This is the first smell of a scam. A White Paper should describe a problem thoroughly and dedicate a large part of the paper to providing a possible workable solution. Always back up your claim of why your solution would work.

Step 2: Purpose of your Token

Decide on how you want to incentivize your contributors with the tokens issued to them. Do your maths and research into the soft and hard token cap number and their implications. Be careful of running uncapped ICOs as people are becoming more weary of it. Choose an easy-to-remember token symbol.

Step 3: Terms and Conditions

You want to do your legal background research early. Decide on your ICO terms and conditions. Decide on who can and cannot contribute. Ideally, you want a legal advisor on your team. Is the nature of your business even legal in your country? How do you intend to spend the funds raised? How is the token distributed? Does the core team intend to keep some tokens by themselves? Always keep abreast of ICO legalities in different countries.

Step 4: Build a Great Team

To me, this is the hardest part. How do you get people to believe in your idea — Not just normal people, but people with credibility willing to stake their reputation with your idea? These people must have verifiable LinkedIn accounts. Many ICOs started by being overly top heavy, for example, you have the CEO, CFO, CSO, CTO, blue chip advisors…etc but no engineers! This gives people the impression that you cannot execute your idea. If your idea is blockchain-related, you need to get blockchain experts in your team. People who know blockchain are hard to come by. Make sure you do enough networking to know the right people.

Step 5: Decide on what Token Technology to Use

With all the groundwork laid out, it’s time to choose the blockchain technology powering your token. At the time of writing, Ethereum is by far the most popular and mature platform for launching ICOs. Creating Ethereum ERC-20 Tokens is easy but implementing custom crowd sale logic around the token can take a bit of thinking. For example, you might have a discount structure based on the contribution date. You have to also consider refunding contributors if the ICO fails to reach its soft cap…etc. It’s worth noting there are also quick token solutions such as WAVES and NXT but they are not all-in-one crowd sale solutions.

Step 6: Execution Plan

Decide how many rounds of token sales you want. For example, a private sale, presale, ICO, and general sale each stage having different discount structures. There has been much criticism of many ICOs in the past. In general, you want to be fair and not allow a few to buy out all the tokens. So you might want to verify the user’s identity before allowing them to participate. One easy way to do that is to create a whitelist (eg Enigma ICO whitelist). At the time of writing, the SEC(U.S. Securities and Exchange Commission) is prosecuting Token Sales without KYC procedures (Eg ICON KYC) and some cryptocurrency exchanges are beginning to exclude cryptocurrencies that did not implement KYC. KYC is tricky and troublesome but is legally required in some countries.

Step 7: Token and Crowdsale Smart Contracts

When writing the actual smart contract and again in the context of Ethereum, Open Zeppelin libraries are helpful when writing secure Crowd Sale and Token Smart Contracts. Be wary of overusing it though as the contract could become bloated and users have to pay high gas fees when making contributions. Always do lots of testing and auditing as you are dealing with people’s money.

Step 8: Hardware Setup

There are quite a few setups to do. First of all, you will need a wallet to store the funds collected during the ICO. A multi-sig hardware wallet is a good option. You will also need a contingency plan in place if your wallet ever gets compromised. Assuming you are using Ethereum, you also need to set up an Ethereum node fully synced with the test and main net to launch and test your smart contracts. There might be trial and error during this process for example you might be switching between geth and parity clients…etc. If you are hosting your website, you will also need to set up the hosting environment. In other words, you want to set up the hardware for your ICO early.

Step 9: Website

You will need to have a responsive campaign front connected to a running node so as to track the progress of the sale. Your website should be usable and idiot-proof with very clear instructions on how to contribute. Many professional ICOs also have a login system for users to manage their accounts and upload or download any documents if required. Having a dedicated portal also improves your brand but requires more work to set it up.

Step 10: Market Early and Market Right

In addition to creating brand awareness and running standard marketing campaigns using bitcoin talk forums, LinkedIn, Facebook, Twitter, slack, bounties, campaigns, ico listing websites, subscription lists…etc, research into the minds of crypto traders and enthusiasts. People who invest in ICOs are people who are into cryptocurrencies. Advertise in places where they visit, know who they are following on YouTube and do video interviews. Video is still the best conversion platform. Go to meetups and meet people in real to gain trust. It’s very hard to get Mr and Mrs smith to invest if they have trouble understanding what bitcoin is.

Final Tips:

Learn from successful ICOs on how they did it. Google knows who they are.

Proofread all your documents over and over again.

A Smart Contract is never completed. Keep testing, auditing, and refining.

Engagement and good customer service equate to sales.

Allow enough time to create the market hype before the actual ICO starts.

Don’t underestimate the amount of legal investigation, time, and preparation work required to launch an ICO.

Read also: What are Some of the Benefits of an ICO?

If you are finding it all too hard, there are companies dedicated to launching ICOs. Google knows them. The only trick is you need to have a trusted technical person to work with them to make sure everything is on track and done correctly. Be prepared to pay premiums for companies with a good track record. 

Blog Credits: Medium

Modeling Bitcoin Value with Scarcity

Introduction

Satoshi Nakamoto published the bitcoin white paper 31/Oct 2008 [1], created the bitcoin genesis block 03/Jan 2009, and released the bitcoin code 08/Jan 2009. So begins a journey that leads to a $70bn bitcoin (BTC) market today.

Bitcoin is the first scarce digital object the world has ever seen. It is scarce like silver & gold, and can be sent over the internet, radio, satellite etc.

“As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties: boring grey in colour, not a good conductor of electricity, not particularly strong [..], not useful for any practical or ornamental purpose .. and one special, magical property: can be transported over a communications channel” — Nakamoto [2]

Surely this digital scarcity has value. But how much? In this article I quantify scarcity using stock-to-flow, and use stock-to-flow to model bitcoin’s value. For readers looking to gain direct exposure to Bitcoin, Relai offers a secure, beginner-friendly option. Relai is a Swiss-based Bitcoin-only wallet that allows users to buy, sell, and hold BTC while keeping full control of their private keys. With features like recurring purchases and an intuitive interface, it’s ideal for both newcomers and experienced investors who want a simple way to invest in Bitcoin’s long-term potential.

Scarcity and Stock-to-Flow

Dictionaries usually define scarcity as ‘a situation in which something is not easy to find or get’, and ‘a lack of something’.

Nick Szabo has a more useful definition of scarcity: ‘unforgeable costliness’.

“What do antiques, time, and gold have in common? They are costly, due either to their original cost or the improbability of their history, and it is difficult to spoof this costliness. [..] There are some problems involved with implementing unforgeable costliness on a computer. If such problems can be overcome, we can achieve bit gold.” — Szabo [3]

“Precious metals and collectibles have an unforgeable scarcity due to the costliness of their creation. This once provided money the value of which was largely independent of any trusted third party. [..][but] you can’t pay online with metal. Thus, it would be very nice if there were a protocol whereby unforgeably costly bits could be created online with minimal dependence on trusted third parties, and then securely stored, transferred, and assayed with similar minimal trust. Bit gold.” — Szabo [4]

Bitcoin has unforgeable costliness, because it costs a lot of electricity to produce new bitcoins. Producing bitcoins cannot be easily faked. Note that this is different for fiat money and also for altcoins that have no supply cap, have no proof-of-work (PoW), have low hashrate, or have a small group of people or companies that can easily influence supply etc.

Saifedean Ammous talks about scarcity in terms of stock-to-flow (SF) ratio. He explains why gold and bitcoin are different from consumable commodities like copper, zinc, nickel, brass, because they have high SF.

“For any consumable commodity [..] doubling of output will dwarf any existing stockpiles, bringing the price crashing down and hurting the holders. For gold, a price spike that causes a doubling of annual production will be insignificant, increasing stockpiles by 3% rather than 1.5%.”

“It is this consistently low rate of supply of gold that is the fundamental reason it has maintained its monetary role throughout human history.”

“The high stock-to-flow ratio of gold makes it the commodity with the lowest price elasticity of supply.”

“The existing stockpiles of Bitcoin in 2017 were around 25 times larger than the new coins produced in 2017. This is still less than half of the ratio for gold, but around the year 2022, Bitcoin’s stock-to-flow ratio will overtake that of gold” — Ammous[5]

So, scarcity can be quantified by SF.

SF = stock / flow

Stock is the size of the existing stockpiles or reserves. Flow is the yearly production. Instead of SF, people also use supply growth rate (flow/stock). Note that SF = 1 / supply growth rate.

Let’s look at some SF numbers.

Gold has the highest SF 62, it takes 62 years of production to get current gold stock. Silver is second with SF 22. This high SF makes them monetary goods.

Palladium, platinum and all other commodities have SF barely higher than 1. Existing stock is usually equal or lower than yearly production, making production a very important factor. It is almost impossible for commodities to get a higher SF, because as soon as somebody hoards them, price rises, production rises, and price falls again. It is very hard to escape this trap.

Bitcoin currently has a stock of 17.5m coins and supply of 0.7m/yr = SF 25. This places bitcoin in the monetary goods category like silver and gold. Bitcoin’s market value at current prices is $70bn.

Supply of bitcoin is fixed. New bitcoins are created in every new block. Blocks are created every 10 minutes (on average), when a miner finds the hash that satisfies the PoW required for a valid block. The first transaction in each block, called the coinbase, contains the block reward for the miner that found the block. The block reward consists of the fees that people pay for transactions in that block and the newly created coins (called subsidy). The subsidy started at 50 bitcoins, and is halved every 210,000 blocks (about 4 years). That’s why ‘halvings’ are very important for bitcoins money supply and SF. Halvings also cause the supply growth rate (in bitcoin context usually called ‘monetary inflation’) to be stepped and not smooth.

source: https://plot.ly/~BashCo/5.embedYou can also read : What Is NFT and Why Is It So Popular?

Stock-to-Flow and Value

The hypothesis in this study is that scarcity, as measured by SF, directly drives value. A look at the table above confirms that market values tend to be higher when SF is higher. Next step is to collect data and make a statistical model.

Data

I calculated bitcoin’s monthly SF and value from Dec 2009 to Feb 2019 (111 data points in total). Number of blocks per month can be directly queried from the bitcoin blockchain with Python/RPC/bitcoind. Actual number of blocks differs quite a bit from the theoretical number, because blocks are not produced exactly every 10 minutes (e.g. in the first year 2009 there were significantly less blocks). With the number of blocks per month and known block subsidy, you can calculate flow and stock. I corrected for lost coins by arbitrarily disregarding the first million coins (7 months) in the SF calculation. More accurate adjusting for lost coins will be a subject for future research.

Bitcoin price data is available from different sources but starts at Jul 2010. I added the first known bitcoin prices (1$ for 1309 BTC Oct 2009, first quote of $0.003 on BitcoinMarket Mar 2010, 2 pizza’s worth $41 for 10,000 BTC May 2010) and interpolated. Data archeology will be a subject for future research.

We already have the data points for gold (SF 62, market value $8.5trn) and silver (SF 22, market value $308bn), which I use as a benchmark.

Model

A first scatter plot of SF vs market value shows that it is better to use logarithmic values or axis for market value, because it spans 8 orders of magnitude (from $10,000 to $100bn). Using logarithmic values or axis for SF as well reveals a nice linear relationship between ln(SF) and ln(market value). Note that I use natural logarithm (ln with base e) and not common logarithm (log with base 10), which would yield similar results.

                                                        Charts made with gnuplot and gnumerics

Fitting a linear regression to the data confirms what can be seen with the naked eye: a statistically significant relationship between SF and market value (95% R2, significance of F 2.3E-17, p-Value of slope 2.3E-17). The likelihood that the relationship between SF and market value is caused by chance is close to zero. Of course other factors also impact price, regulation, hacks and other news, that is why R2 is not 100% (and not all dots are on the straight black line). However, the dominant driving factor seems to be scarcity / SF.

What is very interesting is that gold and silver, which are totally different markets, are in line with the bitcoin model values for SF. This gives extra confidence in the model. Note that at the peak of the bull market in Dec 2017 bitcoin SF was 22 and bitcoin market value was $230bn, very close to silver.

Because halvings have such a big impact on SF, I put months until the next halving as a color overlay in the chart. Dark blue is the halving month, and red is just after the halving. Next halving is May 2020. Current SF of 25 will double to 50, very close to gold (SF 62).

The predicted market value for bitcoin after May 2020 halving is $1trn, which translates in a bitcoin price of $55,000. That is quite spectacular. I guess time will tell and we will probably know one or two years after the halving, in 2020 or 2021. A great out of sample test of this hypothesis and model.

People ask me where all the money needed for $1trn bitcoin market value would come from? My answer: silver, gold, countries with negative interest rate (Europe, Japan, US soon), countries with predatory governments (Venezuela, China, Iran, Turkey etc), billionaires and millionaires hedging against quantitative easing (QE), and institutional investors discovering the best performing asset of last 10 yrs.

We can also model bitcoin price directly with SF. The formula of course has different parameters, but the result is the same, 95% R2 and a predicted bitcoin price of $55,000 with SF 50 after May 2020 halving.

I plotted bitcoin model price based on SF (black) and actual bitcoin price over time, with the number of blocks as color overlay.

                                          Charts made with gnuplot and gnumerics

Note the goodness of fit, especially the almost immediate price adjustment after Nov 2012 halving. Adjustment after Jun 2016 halving was much slower, possibly due to Ethereum competition and the DAO hack. Also, you see less blocks per month (blue) in the first year 2009 and during downward difficulty adjustments end2011, mid2015 and end2018. Introduction of GPU miners in 2010-2011 and ASIC miners in 2013 resulted in more blocks per month (red).

Power Laws and Fractals

Also very interesting is that there is indication of a power law relationship.

The linear regression function: ln(market value) = 3.3 * ln(SF)+14.6

.. can be written as a power law function: market value = exp(14.6) * SF ^ 3.3

The possibility of a power law with 95% R2 over 8 orders of magnitude, adds confidence that the main driver of bitcoin value is correctly captured with SF.

A power law is a relationship in which a relative change in one quantity gives rise to a proportional relative change in the other quantity, independent of the initial size of those quantities. [6]. Every halving, bitcoin SF doubles and market value increases 10x, this is a constant factor.

Power laws are interesting because they reveal an underlying regularity in the properties of seemingly random complex systems. Complex systems usually have properties where changes between phenomena at different scales are independent of the scales we are looking at. This self-similar property underlies power law relationships . We see this in Bitcoin too: 2011, 2014 and 2018 crashes look very similar (all have -80% dips) but on totally different scales (resp. $10, $1000, $10,000); if you don’t use log scales, you will not see it. Scale in-variance and self-similarity has a link with fractals. In fact, parameter 3.3 in the power law function above is the ‘fractal dimension’. For more information on fractals see the famous length of coastlines study [7].

You can also read : Why the Web 3.0 Matters and you should know about it

Conclusion

Bitcoin is the first scarce digital object the world has ever seen, it is scarce like silver & gold, and can be sent over the internet, radio, satellite etc.

Surely this digital scarcity has value. But how much? In this article I quantify scarcity using stock-to-flow, and use stock-to-flow to model bitcoin’s value.

A statistically significant relationship between stock-to-flow and market value exists. The likelihood that the relationship between stock-to-flow and market value is caused by chance is close to zero.

Adding confidence in the model:

  • Gold and silver, which are totally different markets, are in line with the bitcoin model values for SF.
  • There is indication of a power law relationship.

The model predicts a bitcoin market value of $1trn after next halving in May 2020, which translates in a bitcoin price of $55,000.

Credit : Medium

Why the Web 3.0 Matters and you should know about it

The cost of data breaches is projected to surpass $2.1 trillion US dollars by 2019.

You can also read : How Does the Blockchain Work?

                                                                    Web 2.0 > Web 3.0

You can also read : Blockchain for Finance, banking and Capital Markets

Credit : Medium

What Is NFT and Why Is It So Popular?

                                                     Author: CryptoKitties Team

You can also read : Top 25 NFT Startups to Watch out in 2023

  • high-profile held and planned sales of digital works at Christie’s and Sotheby’s;
  • the popularity of digital twins of museums and virtual galleries with remote access in 2020;
  • the emergence of accessible online platforms for the purchase/sale of digital works with NFT technology;
  • attracting a new young audience through technology and digital currency;
  • growth in cryptocurrency rates;
  • acceptance of the value of virtual digital artifacts, thanks to computer games, virtual worlds, brand support;
  • new opportunities for artists and collectors to interact directly;
  • a decrease in Gen Z’s desire to own physical art objects with all the attendant concerns about them;
  • the urge to buy here and now at the moment, publicly demonstrating its status.

You can also read : How to Build an NFT Marketplace on Ethereum Blockchain?

What is Qube?

Qube is a multifunctional crypto community that offers a range of decentralized finance (DeFi) services, swap protocol and staking app, as well as a cryptocurrency platform for creating and trading non-fungible tokens (NFT) and many other convenient features.

Credit : Medium

The Metaverse – A Revolution In Gaming

Anyone who has been staying up to date with news from the technology world has inevitably heard of the Metaverse. The Metaverse, as a concept, was first introduced in Neal Stephenson’s 1992 novel, Snow Crash. What was once a distant dystopia is now closer to our reach than ever. For a while now, virtual reality (VR) games have been in use. These games require the use of a headset, and lo and behold, you find yourself immersed in a virtual world.

Now, at the pace at which technology is evolving, we have far progressed beyond virtual games. While these games are at its core, the Metaverse has spanned several more industries, with even big brands venturing into the territory. However, gaming and the Metaverse are inextricably tied together. As of now, NFT games are the roadway to the Metaverse. In the future, we can expect the Metaverse to take gaming miles ahead in its turn.

Explaining the Metaverse

Before all else, let us first stop a moment and understand what exactly the Metaverse is all about. The Metaverse is simply a 3-dimensional network that consists of interconnected virtual and augmented reality. In this world, people can exist as digital avatars that represent them. Melding the real world with the virtual, the Metaverse will seamlessly integrate virtual reality, augmented reality, digital currency, and social networks.

Any task from buying an NFT to interaction with friends to playing a game of cricket can be done within the Metaverse. There have been two types of Metaverses that are the talk of the town. A Centralized Metaverse is, as the name suggests, under the authority of a single entity. While it has its benefits, the privacy of the user may be sacrificed. On the other hand, we have a Decentralized Metaverse wherein interoperable virtual platforms on a blockchain form an ecosystem. This is projected to have the ultimate immersive experience coupled with safe blockchain transactions.

You can also read :The Insane Future of Web 3.0 and the Metaverse

Changing the Game for Gaming

NFT gaming, which is set to be a key part of the Metaverse, has been gaining steam since 2021. These games provide opportunities for players to earn rewards and currency by simply playing. Understandably, NFT games have been the new name in the gaming sector, promising to take us forward into the future. Now, when the Metaverse finally arrives, it may take NFT gaming to a whole new level in a multitude of ways. Here are a few of them.

  1. P2E Gaming: We have already discussed how Play-to-earn NFT game has brought about a revolution in the gaming industry. Well, with Metaverse in the picture, it will only grow like never before. As these games become platforms for social connectivity, marketplaces may flourish, and buying and selling NFTs may be as easy as 1 2 3.
  2. Interoperability: Interoperability of platforms means that digital assets from one platform can be moved to and used in another. For instance, skins and weapons from a certain game can be used to play another NFT game.
  3. Mixed Reality: Mixed reality will play a huge role in the Metaverse. With the Metaverse, a user can seamlessly move from augmented reality to mixed reality to virtual reality.
  4. Immersive Experience: One of the most prominent features of the Metaverse is that it will be immersive. The user can lead a parallel life in the virtual world. Gaming, especially, would be taken to new heights as the Metaverse will render players capable of creating their own games, characters, and storylines.
  5. Social Connection: Above all else, the Metaverse is inherently social. Ever since we were children, games have brought people together. This will take on a whole new dimension with the Metaverse transcending geographical boundaries. Through the Metaverse, players can invite friends, form new connections, and simply play as a team.

Final Thoughts

The Metaverse is close at hand; there is no denying that. With Meta foraying further into the Metaverse day by day, and Disney exploring Web3, the Metaverse is fast becoming a reality that will take every industry by storm. With gaming already at the forefront of technology, the two can do so much more for each other beyond anything we can imagine.

The Metaverse has all the potential to be the future of the internet. It will revolutionize the way we think about and interact with technology. The fact that something as tangible as real estate has found a place in virtual reality is testimony to the fact that the Metaverse will bring all boundaries crashing down.

With technology such as this, it is also possible for people from all walks of life to find solace in the Metaverse. With due consideration, the Metaverse could be the most inclusive thing to ever happen in history bringing everyone together and fostering authentic expression. Disabilities, which may constrain gaming, too, may be overcome in the Metaverse.

You can also read : 10 Profitable Metaverse Opportunities and How Businesses Can Benefit From It?

Therefore, if properly developed, the Metaverse could be the future of not just gaming, but the world as a whole.

Credit : Medium

Top 25 NFT Startups to Watch out in 2025

NFTs of non-fungible tokens have become a buzzword in recent times. The term is heard now and then, which gives a clear indication of its craze at present. The popularity of NFTs has been rapidly increasing over the past few years, and they have entered almost every industry with many more in the pipeline. An NFT happens to be a unique digital identifier that cannot be substituted, copied, or divided further. It is recorded in a blockchain which is used for the purpose of certification of authenticity as well as ownership. NFT’s ownership is recorded in a blockchain, and its ownership can be transferred by the owner, thereby allowing NFTs to be traded. 

NFTs happen to be digital files representing photos, audio, videos, or a combination of these. With the rising popularity of NFTs, several businesses are looking forward to hiring NFT development companies or services to make the best use of the trend to benefit their businesses. The craze revolving around non-fungible tokens and the rising demand for the services have opened avenues for several NFT startups. These startups have been doing wonders in the field, and here is the list of the top 25 NFT startups to watch out for in 2024 to give you a better idea.  

1.  Yield Guild

Yield

YGG is a play-to-earn gaming guild, bringing players together to earn via blockchain-based economies. They are the settlers of new worlds in the Metaverse. It is a decentralized autonomous organization (DEO) whose mission is to develop the largest virtual world economy. 

Read Also: All About Utility NFTs, the Unique Tokens With Practical Applications

It aims to achieve its mission by gathering a community of play-to-earn gamers who play to earn and collect token rewards. 

2.  Rarible

Rarible

Rarible provides a marketplace to trade blockchain-secured digital items. What makes this marketplace unique is that it is community-owned, meaning that users have an active voice in deciding the company’s future.Rarible is an Ethereum-based platform that facilitates the creation, sale, and purchase of ownership rights to digital works of art via non-fungible tokens (NFTs).

3.  Nifty’s

Nifty's

Nifty’s adds a new layer to the digital asset world by combining social media with a two-sided marketplace. This has allowed the startup to develop a platform where creators, collectors and curators open accounts and follow one another. The benefit to the users is two-fold: first, they can create a following and use that to trade their assets. Second, they can use the platform to network with other users with similar interests.

4.  Mintable

4

Mintable makes the most of Ethereum’s blockchain technology to enable anyone to create, manage, and sell digital files with all the benefits of provable ownership, immutability, and traceability.

5.  Spores Network

5

Spores brands itself as a cross-chain, DeFi-powered NFT ecosystem. Their governing and utility token, $SPO, which currently has a market cap of around $730K, gives life to the ecosystem by making it easy to fractionalize, mint, manage and trade NFTs.

6.  Verisart

    6       

Verisart employs decentralized technologies to help artists certify, document, and enliven their artworks in a vibrant online community of collectors, galleries and dealers. Their platform is designed for verifiable authenticity, minting NFTs, selling more works, and connecting with collectors.

7.  Vulcan Forged

7

Vulcan Forged is the Fastest Growing NFT Platform Play, build, collaborate, and bring your ideas to life with the fastest growing blockchain game and dApp platform. : Vulcan Forged is a gaming platform that lets players earn digital assets. Instead of focusing on building only one game, the startup has over 10 games with different themes.

8.  Polychain Monsters

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Polychain Monsters are beautifully animated cross-chain NFTs with varying scarcity which can be unpacked from booster packs with $PMON, and used in upcoming play-to-earn on-chain games.

9.  Legends Of Crypto

9

CryptoSlam aims to provide ultimate transparency for millions of NFT collectibles across multiple blockchains. As a trusted NFT data aggregator, buyers and sellers rely on CryptoSlam’s data to make purchasing and selling decisions. In addition, NFT creators rely on CryptoSlam’s large user base to help promote their brands and NFT drops.

10.  Charged Particles

10

Charged Particles are Interest-bearing Non-Fungible Tokens (DeFi NFTs) that are minted with an underlying asset and accrue interest over time, giving the Token a “Charge”.  NFT that represents a Sword – the power of that sword could be dependent on the amount of “Charge” the token has. Or perhaps certain items can only be used once they reach a certain level of charge. 

11.  Bitski

11        

Bitski is a platform where users can certify and trade assets. The startup brings the idea of the metaverse one step closer to reality as its system allows users to access assets from any device. The implications around ownership and programmability are the most exciting technical development.

12.  Element NFT Marketplace

12

Element Market is a digital asset exchange. What makes the startup special is that it also serves as an aggregator that gathers and provides information on the value transfer of different NFTs. The First Community-driven Aggregated Marketplace.

13.  MomentRanks

13

MomentRanks, now known as Collective, operates an NFT platform that allows users to manage and trade their digital assets. MomentRank’s competitive advantage is that it targets a niche audience by using its ecosystem only for NBA Top Shot non-fungible tokens. Although NBA Top Shot targets a relatively narrow audience.

14.  Ternoa

14

Ternoa is a decentralized open-source layer 1 that provides a technological stack to build secure and scalable utility NFTs. Ternoa is a blockchain geared toward long term data storage, encryption, and transmission based on different protocols, built on a substrate. its ecosystem already comprises dapps for b2c and b2b use cases. Ternoa, transmit your present to your future.

15.  Own the Moment NFT

15

Own the Moment is the platform, content provider, and community that provides you with everything you need for collecting and investing in NFTs. Everyone needs a strategy for this emerging space and OTM provides you with an experienced partner that empowers you through NFT Discovery, Education, Analysis, and Discussion.

16.  Only1

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Only1 The first NFT-powered social platform built on Solana, Which helps creators monetize and allows fans to connect with the creators they love in a unique way.— think decentralized Patreon, read more on Create-to-Earn (C2E) here. Mixing social media, NFTs, DeFi, and the native token — LIKE, Only1 offers a web3 solution to creator economy and fan engagement.

17.  OneOf

17

OneOf develops a green NFT platform for music, sports, and lifestyle. Deeply committed to a sustainable and inclusive blockchain future, OneOf is a platform that supports NFTs on multiple energy-efficient blockchains, connecting fans and collectors to iconic musicians, athletes, and brands. 

18.  DoinGud

18

DoinGud is a Web3 ecosystem and set of tools empowering communities to do good. Impact Protocol, NFT Marketplace, NFTickets made with AMOR. They are collaborating and developing with some of the brightest creators, technologists, communities, and blockchain companies to bring to you a next-gen NFT experience.

19.  dotmoovs

19

dotmoovs is a Play2Earn sports competition platform where users can challenge each other and themselves in their favorite sports, by using our AI video referee to score their performance. Players can earn $MOOVs, exclusive NFTs, and other rewards by playing on the mobile app.

20.  AnRKey X

20

AnRKey X is a multi-release DeFi game studio and all-in-one Play to Earn platform powering gamers and creators in the metaverse. It enables a community-owned and fully decentralized gaming economy making it easy for billions of gamers and creators around the world to easily monetize their gameplay, participate in ownership & earn real money.

21.  Decentraland Marketplace

21

Decentraland is creating a virtual world that will grow beyond any centralized control. To accomplish this, we’re building a suite of supporting tools and applications designed to help people create three-dimensional content, games, and applications. 

Read Also: How to Build an NFT Marketplace like Binance?

All of this will be hosted and accessed on a fully decentralized VR platform. Our work touches virtual reality, dApp development, game design, cryptocurrencies, and 3D art and design.

22.  Alien Worlds

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Alien Worlds is a play-to-earn game that asks you to explore the universe and complete tasks to earn currency. You can also collect assets like weapons, land, and other game NFTs to trade with other players in its gaming marketplace. 

23.  Virtua     

23

Virtua is a gamified metaverse that provides immersive social, web3 gaming, digital collectible, and interactive experiences. Terra Virtua aims to take NFTs even further by letting you interact with your collectibles through AR and VR apps. 

24.  KnownOrigin Labs

24

KnownOrigin is an NFT marketplace for people to buy, sell, and create digital art NFTs. It also hosts numerous NFT drops as well as a subscription list to be notified of future drops. 

25.  Myth.Market

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Like the trading card shops of old, digital collectible platform Myth.Market houses several NFT collections like the Garbage Pail Kids and William Shatner trading card series. If you’re into trading card collecting, this site is worth a watch.

Closing Thoughts

The NFT startups’ list mentioned above makes it clear about the popularity as well as demand in the field. However, NFT is still a new concept and evolving on a regular basis. The overall market of NFT grew at a dramatic pace from 2020 – 2021. The trading of NFTs in the year 2021 rose to more than 17 billion dollars, up by about 21000 percent over the year 2020’s total of 82 million dollars. The growth is expected to continue further, with no signs of stopping in the near future. So, we need to wait to see how the future shapes NFTs.

 

ICO 101: A beginner’s guide to raising capital using cryptocurrencies

ICO 101: Beginner’s guide to raising capital using cryptocurrencies

An initial coin offering (ICO) is a way to raise capital for your project by selling blockchain-based digital assets.

Imagine you have a brilliant idea for a new blockchain startup. Perhaps you want to build the world’s first decentralized computer on the blockchain, which can be used to create native digital assets and develop decentralized applications. Users of the network will transact using tokens, which are digital assets created using your blockchain (and the nifty decentralized applications you can build on top).

Seems like a pretty good idea. But, like any startup, you need to raise some capital first.

For a traditional startup, your options are to either: raise a seed round from private investors, pitch a venture capital fund (or a hundred of them, most likely), or attempt crowdfunding using a crowdfunding platform. 

With your blockchain startup, however, you have another option: Why not raise capital by selling the tokens the network will eventually use? As the network grows, meaning that the tokens become more in demand, their value will rise and reward investors. This method of raising capital is an ICO platform.

Why ICOs are a popular way to raise capital

ICOs have a number of advantages:

  • Speed: It only takes 100 lines of code to create an Ethereum-based token like ERC-20, and tokens can, in theory, be created and distributed in a very short timeframe.
  • Liquidity: Tokens are sold into a global market that operates 24/7.
  • No gatekeepers: ICOs can raise capital directly from anyone with a crypto-wallet, anywhere in the world.
  • Ownership: Tokens do not confer ownership rights to tokenholders unless this is programmed into the smart contract explicitly.
  • Community: ICOs attract early adopters and align the early user base behind your success.
  • Minimal bureaucracy: Disclosure requirements and paperwork (depending on the regulatory status of your token) can be minimal.

Although the advantages are numerous, ICOs are no walk in the park. The crypto marketplace is extremely competitive and your project will face serious scrutiny from both regulators and the crypto community itself. This article will give you an overview of the work involved in pulling off a successful ICO.

Pre-sale: Everything needed before the launch

The very first question you need to answer is if an ICO is a right strategy to raise capital for your business.

The graveyard of failed ICOs is wide and deep — but the prospect of completing huge funding round in a matter of months (or even days) can still tempt overzealous entrepreneurs to ignore the risks. 

Not every project can successfully raise capital with an ICO. Firstly, it’s important to understand that an ICO isn’t just about raising capital. Before deciding on an ICO, you must know:

  1. How the use of a token (and a blockchain) genuinely improves a business, product, or service, beyond injecting a quick burst of capital in the short term;
  2. How to generate a fair return on investment for token holders over the long term.

The most successful ICOs have a compelling use case for a blockchain and, as with any successful business, a product or service that people want. 

There are thousands of tokens out there. Without a very convincing answer to these fundamental questions, investors are unlikely to take the risk of investing in businesses that are not well thought out.

Build a team

An ICO is an enormous and multi-faceted project. You’ll need an excellent team to be successful. In fact, the team behind an ICO is one of the most reliable indicators of whether it’ll succeed or not, and investors will be paying attention to it.

Understand the law and choose the right jurisdiction

Regulators and lawmakers are becoming more sophisticated in their understanding of blockchain and crypto, but as a relatively new industry powered by completely new technology, it still exists in mostly a grey area of the law — this includes ICOs.

However, you should not interpret this as meaning that your ICO won’t be subject to local laws and regulations. It actually means you definitely need legal expertise to clarify the exact legal nature of your token, how it might be regulated and what you’ll need to do to stay compliant — particularly with regard to securities law which governs the issuance of financial instruments classed as securities (such as stocks, bonds and sometimes tokens), and Anti-Money Laundering (AML) laws, which intends to prevent money laundering. 

The regulations that will apply to your ICO will vary according to the jurisdiction you’re operating in. For example, tokens sold to residents of the United States could be subject to the United States Securities and Exchange Commission (SEC) regulations and the Howey Test can be used to determine whether your token will be seen by the SEC as a security (and hence regulated by federal securities laws).

Read also: What are the Best Upcoming ICOs?

Some countries are known to have favorable legal frameworks for launching ICOs and crypto projects such as Singapore, Switzerland, Hong Kong, the British Virgin Islands, Lichtenstein, the Cayman Islands, Bermuda, Cyprus, Malta, and Gibraltar.

Choose (or build) the right technologies

It is not surprising that choosing the right technologies for your ICO will be fundamental to successful fundraising. The essential technologies that need to be in place are a blockchain, a smart contract, a token, and an assortment of back-end web and security infrastructure.

Blockchain: Some projects choose to develop their own blockchain and use it to run their ICO, but the vast majority use established platforms such as Ethereum. Building a blockchain is a complex and time-consuming undertaking and is really only used in projects where a bespoken blockchain is necessary. While these blockchains may offer unique features and greater flexibility, they also require more time and expertise.

Smart contract: A smart contract is the engine of your ICO. It handles incoming token purchases, enables token holders to transfer and sell tokens, connects to your token wallet, and more. It’s critical, therefore, that you properly audit your smart contract to ensure that it is completely secure and functional, as, for example, hackers will be looking for exploits in the smart contract to steal money from you and your investors.

Tokens: Since tokens are code, they can be programmed with different features. Tokens can be categorized as utility, participation, investment, or asset-backed. Each type can be bound by its own legal requirements and it’s therefore very important to be clear on the status of your token. 

Infrastructure: On top of the blockchain-specific technologies which are essential to your ICO, you’ll also need servers to manage your website traffic and onboard users. This is typical with automatic Know Your Customer (KYC) services or manual verification.

Security: While blockchains are highly secure, smart contracts and websites can be exploited by hackers, and ICOs can be a “honey pot” for scammers and hackers. You will be vulnerable to domain name and social phishing, personal data breaches, smart contract hacks, and distributed denial-of-service (DDoS) attacks. Having excellent security in place will protect and reassure investors about your project. Having a professionally audited smart contract, high-quality reliable hosting service (with DDoS protection), and domain monitoring for phishing, as well as buying up similar domain names yourself will all help secure your project and your investors.

Design your tokenomics

In general, you want to find a balance between the supply and the price of your token for your ICO. If the supply is too high, then the price per token will be diluted and low, but if the supply is too low then there might not be enough tokens to satisfy your investor base, or investors might be put off by the high price of the token. These factors are known as the tokenomics of your ICO.

The tokenomics of your project should support the nature of your product or service, as well as the price of your token. Two factors that are necessary to think about are the allocation and distribution of tokens and the supply of tokens.

Allocation and distribution: There are many decisions you will need to make to decide how to allocate and distribute the token. One of the first is whether it would be better to launch a private or public ICO or use both. A private ICO offers pre-mined tokens to a limited and selected group of investors, often in a pre-sale event ahead of a public ICO. Public ICOs allow almost anyone with a crypto wallet to invest in a token and are sometimes referred to as token crowdfunding.

Read also: Which are the main ICO listing websites out there?

A balance has to be struck here. If employees and early investors control too high a percentage of the tokens, the price of the token can be severely impacted if one of them sells. Many ICOs will include lock-up agreements to help stabilize the price over the short to medium term. If too much of the supply of your token is held by whales (anyone owning a significant percentage of the tokens), then it’s also a red flag for retail investors who will be wary of getting dumped on.

Supply of tokens: Your token will have a maximum supply (the maximum number of tokens that can ever be created/mined), a total supply (the number of tokens that exist at present), and a circulating supply (the number of tokens currently in circulation i.e., not locked up or burned). The value of your token will be determined in part by the supply, as well as the promise of your project.

You can design the supply of your token to be inflationary or deflationary, depending on the nature of your project. Inflationary tokens do not have a maximum supply (new tokens can always be created) but deflationary tokens such as Bitcoin (BTC) do have a capped maximum supply. 

An inflationary model can lead to the devaluation of your token over time, but it also encourages tokenholders to use their tokens. Using a deflationary model helps to increase, or at least maintain, the value of each token as demand increases, but can also lead to tokenholders hoarding their tokens instead of using them. You will have to decide which model is right for your project.

Choose your token sale model

After deciding on the tokenomics of your project, you’ll need to decide how to manage the sale of the tokens. The token sale model needs to balance simplicity with as much diversity as is necessary to entice and reward a mix of investors.

Soft, hard, and hidden Caps: The soft cap is the minimum amount your ICO must raise (either in the number of tokens sold or the amount raised) and the hard cap is the maximum amount that the ICO must raise before it ends. The caps are set before the ICO begins. Hidden Caps can be hard or soft, but investors are not able to know the capitalization until the allocation is finalized.

Uncapped or capped with fixed rates: You can create a fixed price for the tokens at an early stage of the ICO usually at a discounted price, moving them to another fixed price at a later stage. It motivates investors to buy in early.

Dutch auction and reverse Dutch auction: In a Dutch Auction, a smart contract is used to calculate the price of the token only after all bids are received, with the highest bids being prioritized. Reverse Dutch Auctions start with a high token price and cap, which then declines each day the sale runs or for every block that is mined. The sale ends once the cap is reached.

Collect and return (C&R): With C&R, the cap is fixed but with some flexibility. A smart contract collects contributions that exceed the predetermined fixed cap and then adjusts the final allocations of tokens by ratio, with any difference returned to owners.

Dynamic Ceiling: Instead of making the entire cap available to investors at once, dynamic ceiling ICOs create a series of hard caps which raise the capital in stages. This type of ICO has the advantage of preventing whales from buying up the entire allocation in one go, which could block smaller investors from buying in.

Create your product roadmap

Your ICO is a means to an end. Your investors will want to know why you’re raising this capital, what it’s going to be used for and where your company is headed. A detailed product roadmap is necessary to convince investors that your business is legitimate and likely to succeed.

The roadmap should contain:

  • A well-articulated vision of your project — hiring a copywriter can help you craft this.
  • A series of SMART (specific, measurable, actionable, realistic, time-bound) milestones and goals.

Write your white paper

A white paper is a pitch for your ICO. It will be the primary reading material for investors doing their due diligence on your project. This white paper will be vital in convincing investors that your project is legitimate and credible, and you’ll ideally want it in place before building your community and reaching out to investors, whether you’re doing a private or public ICO.

Your white paper should include everything mentioned above, from your market research and your team to your technology, tokenomics, and product roadmap. Don’t skimp on copywriters and graphic designers — the better your white paper looks, the better your project looks.

If you want a complete breakdown of how to write and structure your white paper, read the Cointelegraph guide on everything to know about white papers.

Getting ready for launch

Create your website and brand

Investors will judge a project by the quality of your website. Hire the best web developers and designers you can afford and don’t cut corners. If your project is international and you want to attract international investors, you should consider hiring professional translators to translate your website into the native languages of the jurisdictions you want to target.

Before your ICO launches, your website should also have a token sale landing page. This page should offer a snapshot of your project and its biggest selling points, as well as have your white paper clearly signposted. A well-executed landing page can be a powerful lead for your ICO.

Build your community

Community is everything in crypto. A dedicated, loyal, and enthusiastic community will be a game-changer in marketing your project and ICO. You’ll help to build your community with a serious public relations (PR) and marketing push.

In general, you’ll be best served by PR and marketing agencies specializing in ICOs and crypto. The crypto verse is unique, and most corporate and traditional practitioners won’t have a sophisticated enough understanding of the ecosystem, investors, or media.

PR: A great PR team has its finger on the pulse of the crypto media (and potentially tech and national media) and excellent proven contacts within it. PRs can get you featured in thought leadership pieces in top-tier crypto-publications, position you as an expert to be quoted in significant trending stories, write press releases that land, and, most importantly, know how to pitch your specific project to journalists. They can also get founders featured on podcasts and interviewed on YouTube channels hosted by famous crypto personalities.

Community groups: You want to ensure that you’re constantly engaged with your community before, during, and after your ICO. A community manager will organize and build your Slack, Telegram, and Discord channels, all while managing your inquisitive and enthusiastic investors. Be active on forums such as Reddit and BitcoinTalk, write your own Medium blog and frequently update your GitHub.

Social media: An engaged presence on the most popular social media channels is essential to keep investors and potential investors informed. Hire a social media manager who can give you an entertaining and engaging presence.

Pay-to-play: Many mainstream social media platforms banned ICO-related advertising in 2018 (although they have since relaxed some of these bans) but you can still run paid ads in crypto publications and other media. It’s worth experimenting with various types of advertising and pricing models (e.g., impressions vs direct response) at different stages of the token sale.

Influencer marketing: Getting a noteworthy celebrity on board can push the recognition and trust in your project to new heights. Ensure that you do a lot of due diligence and choose the right influencers — you’ll be tying your reputation to theirs.

Bounty programs: You can generate interest in your project pre-ICO by putting bounties on reporting bugs, promoting your project, maintaining forums and other fan projects, and other tasks. They are a great way to encourage crypto-savvy individuals to engage with the details of your project.

ICO calendars: You’ll want to ensure your ICO is listed on all of the most popular ICO calendars, such as Cointelegraph’s ICO calendar.

Rating agencies: Specialist rating platforms will rate and audit your ICO. They aren’t cheap but can offer an impressive stamp of quality and credibility.

List on crypto exchanges

It’s no good to have a brilliant project, a token that everyone wants to buy, and absolutely nowhere to sell it. It’s critical to have the token listed on exchanges ahead of your ICO date. Listing on high-quality, secure and legally compliant crypto exchanges will also help to promote your ICO organically.

Read also: How to Create a Cryptocurrency from Scratch and Start an ICO?

Exchanges all have their own requirements for allowing you to list, often depending on the nature of your token and business. Some of these requirements will be universal such as having an audited smart contract.

Because exchanges make money by charging fees on trades, it’s in their interest to list in-demand new tokens. If you have a sizable community and can demonstrate high demand for your token, you shouldn’t have a problem finding an exchange to list you. The application and listing process usually takes 1-2 months, so factor that into your timeline and overall ICO roadmap.

Post-sale: You’ve launched. Now what?

Remember what we said earlier: Your ICO is a means to an end. If you’ve raised the capital you needed, congratulations. Now, it’s time for you to stay engaged with your community and deliver on what you promised in your white paper.

Blog Credits: Cointelegraph

How to Create a Cryptocurrency from Scratch and Start an ICO?

Create Cryptocurrency and Start an ICO

Most people agree that starting an Initial Coin Offering (ICO) is a quick and straightforward method to raise money for your enterprise. However, there is more to it than meets the eye, as the regulations around cryptocurrencies make launching an ICO risky, technically challenging, and difficult to market. This page provides an extensive guide on how to start an ICO, including detailed instructions on how to Create Your Own Cryptocurrency and the ICO process. You will also find alternatives to help you decide the best fundraising option for you. Whether you’re looking to build your own cryptocurrency or understand how to create cryptocurrency, this guide covers everything you need to know to start an ICO successfully.

How to Set Up an Initial Coin Offering?

Let’s discuss the ten steps you must take to construct an initial coin offering (ICO) now that you have made the decision to launch your cryptocurrency.

1. White paper

A white paper is a research-based document that explains your project’s technical details and reasoning. You are making this thing, but why? Which issues are you trying to resolve? How are you going to tackle those issues? What use will your token for cryptocurrencies serve?

The creation of a peer-to-peer electronic currency system is covered in length in the 2008 Bitcoin whitepaper written by the anonymous Satoshi Nakamoto. After outlining the possible issues (double spending) that the Bitcoin network could encounter, Nakamoto provides technical information on timestamp servers and proof-of-work schemes to address this problem.

In the same way, a founder should make every effort to include every detail in a white paper. Peers who could be interested in investing in or supporting the initiative will review the white paper closely. Technically and commercially speaking, the white paper is perhaps the most significant document. 

Your ICO might not succeed if the audience is not persuaded by your whitepaper.

2. Token utility and tokenomics

To decide whether to invest in a cryptocurrency, potential buyers want to understand the utility of your token. A cryptocurrency token without practical use may end up as a meme coin, intended solely for trading purposes. For some systems, tokens are often used as a medium of exchange. Native tokens of layer one (L1) are used to pay gas fees, while discount tokens are issued by cryptocurrency exchanges. Many decentralized apps offer tokens with attached voting rights. Tokenomics is an essential aspect that investors thoroughly investigate. Is your token inflationary, like Cosmos’ ATOM, or hardcapped, like Bitcoin? What portion of the tokens is allocated to early investors and the development team? Do these investors have a vesting term and a cliff period? Tokenomics directly impacts a token’s market price, making these questions crucial when considering how to create a cryptocurrency or how to start an ICO. Whether you want to know how do you make your own cryptocurrency or understand the ICO process, these factors are vital to the success of your Initial Coin Offering (ICO). Understanding how to create an ICO and build crypto involves addressing these key aspects to attract and retain investors.

3. Legal Compliance

We can’t emphasize this section enough. Ensuring legal compliance is crucial; otherwise, the authorities may eventually knock on your door. 

To safeguard oneself against the unpredictable regulatory environment around cryptocurrencies and token sales, creators must give legal compliance top priority while organizing an ICO launch.

  • First and foremost, creators need to think about the jurisdiction in which they plan to introduce the initial coin offering (ICO), as laws differ widely between nations. You might need to comply with disclosure laws and register the ICO launch with securities regulators in some areas.
  • Second, creators must remember that, depending on the jurisdiction in which the ICO is launched, it may be subject to know-your-customer (KYC) and anti-money laundering (AML) compliances.
  • Lastly, taxes should not be overlooked. Tax laws pertaining to ICOs and cryptocurrencies are currently in the process of being formulated. Therefore, in order to lower the danger of legal ramifications and cultivate confidence with possible investors, it is imperative to confer with a legal and financial specialist. Crypto tax software can help you file your taxes properly and limit the associated risk,

4. Team

It should go without saying that any project or business must have the correct staff. Any idea’s most challenging aspect is its execution, and without a qualified team, your vision will be just that—a notion.

A team of software and blockchain engineers, UI/UX designers, copywriters, sales and marketing executives, and other professionals will be needed for your blockchain project. Adding really credible individuals to your advisory board will benefit your project in many ways.

By setting aside a portion of the ICO’s earnings and tokens for your team, you may encourage them. 

5. Choosing the Right Blockchain

There are a plethora of blockchains available. It will be your responsibility as a founder to choose a blockchain that aligns with your values and mission. The first blockchain that springs to mind when considering a platform for an initial coin offering (ICO) is Ethereum. ICO launches were made possible in the first place by Ethereum’s power.

In terms of total value locked and active users, Ethereum remains the world’s most popular smart contract platform. It is regarded as one of the world’s safest public blockchains as well. But because of Ethereum’s widespread use, the blockchain is congested, which causes sluggish transactions and expensive gas costs. 

You might introduce your tokens on an Ethereum layer-two (L2) rollup such as Base or Optimisim if high gas costs are an issue. L2s are gaining traction over time because they let users benefit from Ethereum’s security without having to pay its expensive gas costs.

Poygon and BNB Chain are two well-liked alternative blockchains. ICO producers particularly prefer the BNB Chain because of its interaction with Binance, the largest cryptocurrency exchange in the world. Binance offers its cryptocurrency investors access to newly issued tokens on the BNB Chain through Binance Launchpad, a specialized BSC ICO platform.

Cryptocurrency Services

6. Creating Smart Contracts

Smart contracts control the Create Cryptocurrency on blockchains such as Ethereum and BNB Chain. For your ICO to be launched, a smart contract must be created. Tokens on Ethereum are created using the most widely used token standard, which is ERC-20.

You won’t have any trouble designing a smart contract if you have a team of engineers and programmers. You can generate how to make your own cryptocurrency with ThirdWeb and other no-code alternatives if you don’t have a lot of resources.

Code libraries such as OpenZeppelin can also be used to expedite the generation of smart contracts. These libraries offer a databank of deployable, tested, and community-reviewed code.

7. Auditing your Smart Contract

Any flaws and vulnerabilities in your code will be found through auditing. Before releasing your smart contract to the blockchain, you should audit it, especially if it was created for an initial coin offering (ICO).

Since you are working with someone else’s money, you must take all required precautions to guarantee the security of investment cash. If not, you can end up in hot water.

Additionally, auditing will guarantee that there are no hiccups or technological issues during the ICO process. You might submit your smart contract for public evaluation and consider offering bug bounties, or you can get in touch with reputable auditing services. 

8. Protect your ICO Proceeds

An address for your wallet that will receive ICO funds must be included when setting up your smart contract. 

It is advised that you utilize hardware wallets with the strongest security available. A multi-sig hardware wallet may also be used if your team is larger and you have more founding members.

Moreover, you may program the smart contract to distribute the ICO funds to several wallet addresses in order to spread out the risk in the event that one wallet is hacked. It is important to always prioritize security in the realm of cryptocurrency.

You’ve probably heard the proverb “Better safe than sorry.”

9. Marketing

Get the best cryptocurrency initial coin offering (ICO) via marketing. No matter how great your idea is, consider this: if potential investors are unaware of your project, they will not have the opportunity to invest in it.

A strong website’s branding is the foundation of effective marketing. The public face of your initiative will be your website. You might even designate your website as your ICO’s minting page.

In the present day, increasing brand awareness through blogs, videos, and social media is essential. Because the caliber of the information is so great, you will need to make an investment to get seen. Employing copywriters, community managers, social media moderators, and content producers will be beneficial.

Remember that among enthusiasts of cryptocurrency, Twitter and Discord are the most widely used social media sites. To reach more people, if you have the money, you may employ influencers and purchase advertisements.

Related: ICO Vs IPO: What’s the Difference?

10. Creating a Good Product

Sometimes developing a product that people want to use is the greatest approach to promote your initial coin offering (ICO). You can make your idea so popular that enough people would be eager to invest in your initial coin offering (ICO). This was shown with Ethereum’s layer-two rollup, Arbitrium. 

The goal of Arbitrium was to provide a scaling solution for Ethereum that anybody could use and expand upon. People were excitedly awaiting the introduction of Arbitirum’s ARB token when the company announced its formation. Arbitirum didn’t need to worry about marketing because their accomplishments are enough to speak for themselves.

How Much Does It Cost to Launch an ICO?

By now, you probably know that starting an initial coin offering (ICO) is not inexpensive. It is not possible to cite an exact number here. It truly relies on your spending limit and your objectives. How much it costs to how to create a cryptocurrency

These are a few costs you could have for your impending initial coin offering:

  • Employee costs
  • Attorney fees
  • costs for consultations
  • Gas costs for contract deployment and testing
  • Hardware wallet costs
  • Advertising and influencer costs
  • Expenses for websites: domains, hosting

Why Launch an ICO?

Why Launch an ICO

Here are some points to help you decide on your crypto ICO.

1. Blockchain Industry

Do you have any projects involving blockchain technology? Should blockchain be used in your project at all? Fundamentally, blockchain technology is just a sophisticated database that can be adjusted to emphasize decentralization and transparency and can be created to be open source. Founders must remember that not every idea is a good fit for blockchain technology

It can make sense to start an initial coin offering (ICO) if your project is centered around blockchain technology or if operating in a decentralized or peer-to-peer environment is important to you.

2. Cryptocurrency Tokens

Is a crypto token even necessary for your project? This is the most typical mistake that most entrepreneurs make. By no means is using blockchain technology a requirement to Create Cryptocurrency.

The process of developing, marketing, and maintaining cryptocurrency tokens and smart contracts is fraught with several hazards and complexities. Rather than dealing with market risks, token marketing, tokenomics, hacks, and cryptocurrency, your team could be better off investing time and money into developing a workable product or service.

Above all, a project ought to have value even in the absence of its coin. A project will eventually collapse (and take its token down with it) if the only reason it is unique is that its cryptocurrency token is gaining attention in the marketplace.

It could make sense to start an ICO if your cryptocurrency token will have a notable usefulness.

3. Regulations

Before establishing an ICO, founders need to consider the legislation pertaining to cryptocurrency in their operational regions. The US Securities and Exchanges Commission (SEC) has been pursuing a number of cryptocurrency creators for allegedly trading “unregistered securities” despite not registering with the agency. As of this writing, there is a great deal of uncertainty around crypto regulations. The US SEC is adamant about policing cryptocurrency and initial coin offerings.

There are now solutions that can shield you from regulatory scrutiny and provide you with some of the advantages of an initial coin offering (ICO). Later in this post, we’ll discuss those choices.

Alternatives to ICOs

There are alternatives to ICOs that you should be aware of. Learn about them here before making your final decision.

1. Initial Exchange Offering (IEO)

IEO stands for initial exchange offering, which is sold on a cryptocurrency exchange.

ICOs and IEOs are comparable. You build a smart contract for your freshly produced tokens, but you want to issue the tokens through a cryptocurrency exchange rather than sending investors to a mint page.

Because the cryptocurrency exchange may decide to do due diligence on the coin issuer’s smart contract before listing the coins, IEOs are thought to be safer for investors than ICOs. Investors will have an additional degree of security from this third-party due diligence, which might provide legitimacy to the token sale.

Related: ICO vs. STO: What’s the Difference?

2. Security Token Offering (STO)

The term “STO” describes the controlled selling of cryptocurrency tokens. Since the cryptocurrency tokens are categorized as “securities” in this case, they have to abide by regulations imposed by market watchdogs like the US SEC.

Promoters of STOs will need to adhere to disclosure regulations, which entails disclosing to the public, prior to token offerings, the business strategy, associated risks, team makeup, and other confidential information.

Founders may proceed with their fundraising without fear of regulatory scrutiny in the future when they utilize STO.

ICO Development Company

Conclusion

Creating a cryptocurrency from scratch and starting an ICO can be a complex yet rewarding process. By carefully planning each step, from conceptualizing your unique value proposition to executing a successful ICO, you can tap into the immense potential of the cryptocurrency market. Partnering with a professional cryptocurrency development company can simplify this journey. Such companies offer comprehensive cryptocurrency services, including technical development, compliance, and marketing, ensuring your project stands out in a competitive landscape.

To maximize the effectiveness of your ICO, consider engaging an ICO Development Company that provides specialized ICO development services. These experts can guide you through the intricacies of the ICO process, from smart contract development to token distribution, and help you navigate regulatory requirements. By leveraging these cryptocurrency solutions, you can build a robust and secure platform that attracts investors and achieves your business goals.

For those looking to build crypto projects, SoluLab offers comprehensive support and expertise. From helping you how to create a cryptocurrency to guiding you through the process of how to start an ICO, SoluLab ensures that your project is poised for success in the rapidly evolving digital landscape.

FAQs

1. How do you make your own cryptocurrency?

To make your own cryptocurrency, you’ll need to define your unique value proposition, select a blockchain platform, write the necessary code, create smart contracts, and test the cryptocurrency thoroughly. Collaborating with a development team or hiring a cryptocurrency development company can streamline this process.

2. How to create a cryptocurrency?

Creating cryptocurrency involves choosing the right blockchain, developing the digital currency through smart contracts, and setting up a secure environment for transactions. Comprehensive planning and professional expertise are crucial to ensure a successful launch.

3. What are the steps to make your own cryptocurrency?

The steps to make your own cryptocurrency include conceptualizing your idea, selecting a blockchain platform, developing the cryptocurrency, implementing smart contracts, conducting thorough testing, and preparing for the launch. It’s beneficial to work with experts who offer cryptocurrency services to navigate these steps efficiently.

4. How do you create a cryptocurrency from scratch?

To create a cryptocurrency from scratch, you need to define your project’s goals, choose the right blockchain technology, write and deploy the smart contracts, ensure the security of the platform, and plan for the launch. Engaging with a cryptocurrency development company can help manage these tasks effectively.

5. What is the process to start an Initial Coin Offering (ICO)?

The ICO process involves defining your project, creating a whitepaper, developing the cryptocurrency, marketing the ICO, and ensuring compliance with legal regulations. Partnering with an ICO Development Company can help manage these tasks and provide specialized ICO development services.

6. How to create an ICO and what are the necessary steps?

Creating an ICO involves several steps: drafting a comprehensive whitepaper, developing the token, setting up a secure environment for the ICO, marketing the ICO, and ensuring regulatory compliance. Professional services can help guide you through the process of how to start an ICO, from inception to execution.

7. What are the key elements to consider when you build crypto and start an ICO?

When you build crypto and start an ICO, consider factors such as the uniqueness of your cryptocurrency, the choice of blockchain, smart contract development, security measures, regulatory compliance, and effective marketing strategies. Utilizing cryptocurrency solutions can enhance the chances of a successful ICO.

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