The main motive is to tell you all the process behind Initial Coin Offering (ICO).
ICO'c cannot be used for all business. This is not a tool which can be used to raise money and skip the costly long registration process of public offering with the regulators. While in the beginning, that used to be in the case of ICO's, but it is no longer true. ICO is now taking shape in the crypto world. The question a businessman should ask itself is the digital token will add benefit to my business.
This is the most important step which is mostly ignored by the businessmen. The businessman should build an actual product which is an important part of ICO. The Businessman should spend his valuable time building a solid, secure and scalable product on the blockchain, and then only tell the people how it will be helpful in changing the world.
Creating a token is the most important and simple part of ICO. Tokens represent that your trade is good for trading. Tokens can represent any tradable good which is in the market for trading. Tokens are similar to company shares which are sold to investors.
Whenever you are dealing with people's money, you want everything to be legal. The objective is to ensure that your token should be secure and there is no effort of deceiving. You will need a legal description and a formal legal opinion to avoid the trouble with SEC. The firms which are already established in the ICO space are only three Cooley, Perkins Coie, and K&L Gates.
A whitepaper is a prospectus which clarifies the technical aspects of the product, the problems it is going to solve, how it is going to solve them and a description of the token generation and distribution strategy.
The problem which is mostly faced is that much investor usually doesn’t get to know about your token sale. That's why creating a community and buzz is most important for ICO process. A lot of token sales are driven by initial hype. This hype should be strengthened by the community of investors who supports you with your business.
Once the coin, whitepaper, and marketing techniques are created, the only thing you need to do is just reach out to ICO exchange platforms to get investors. ICO exchange platform helps people to buy and sell token available in the market. To get the better results ICO exchange platforms are required. Lots of exchange platforms are there but the best tokens will be listed in CoinMarketCap. In ICO, the following things are required for the launch of Coin:
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