In the face of the ICO boom, how do you get people to care about your blockchain project in a market that is saturated with ICOs promising the next best thing?
ICOs are a dime a dozen. Everyone from the big guns of Wall Street to eager teenagers working out of their home garages are launching their own initial coin offering. Blockchain networks that support smart contracts like Ethereum and Stellar have made it possible for anyone to deploy their own token without having to create their own blockchain.
The question of credibility and differentiation is pertinent to not only team WatermelonBlock, but every other aspiring ICO in our position. In the cut throat jungle of ICO building, these have been the three critical issues that have been leading our ICO journey.
1. Personnel
The first thing the investor is going to look into is the team behind the ICO. As fresh faces in the industry, this has meant finding talented people to collaborate with on launching our ICO and secure investor credibility. Advisory personnel, marketing guns, blockchain specialists and token economists – don’t be afraid to shoot them an email. Surround yourself with people that are experienced, open and can offer you invaluable advice in a mysterious, complex and exciting industry.
2. Keep it Simple
There are millions of projects on the ICO landscape. If a process or idea is difficult to follow, potential investors will click that little red x button at the top of the screen. It might take months to create a marketing channel, but it only takes seconds for someone to exit one.
In fear of that looming red x button, goal setting has been key. Making sure that goals have been clearly defined in an easy to follow road map has been a great way to combat process overload. This has ensured time and time again that things don’t get too complex for us, as that complexity will funnel down to potential future investors who will pass on your ICO in seconds.
3. How Does the Investor Profit?
Whilst the significance of the blockchain revolution and its implications on society is a hot topic, many investors are pouring money into ICOs on the premise of strong returns and market potential.
Moving with investor expectations, the WatermelonBlock token economy has been ripped down, redrafted and rephrased at least 50 times over. Matters such as token exchange, token utility, and coin distribution have paved the way for catastrophic redrafts and conceptual heartbreak. Learning to be agile, critical and open has been fundamental in evolving our ideas.