TOPIC FOCUS: I want to start my own ICO. How do I do that?

Read the article and answer these questions.

1. What should be known about ICO if you want to start your own business?

2. Name some working stages in ICO business.

3. What is needed to advertise?

4. How are people involved in the cryptocommunity?

5. How is ICO related to celebrities?

 

The most important thing you want to do is make sure that either you or someone involved have worked in and understand cryptocurrency and blockchain. 

You should also ask yourself if you really think that your business will actively benefit from an ICO. 

 Like any business, you need to hook your buyer by the end of the first page. Ethereum's white paper takes the time to explain what blockchain is, and then goes on to detail how they intend to build on the progress. They do all of this by the end of the first page. Now, does every single white paper need to include an unabridged history of blockchain including the time that guy paid 10,000 bitcoins for a pizza? Probably not, but it should be understandable to someone without any knowledge of how these systems work.

Now that you've got your white paper, you need to advertise. You have two targets that you'll be trying to reach out to: those with knowledge of how cryptocurrency and ICOs work and people with basically no idea. You'll want to identify the people that would be most excited by your new venture, since they'll be more eager to give you money if it means a deal for them. In the case of BabyCoin maybe we'd reach out to some popular mommy bloggers/vloggers and see if they would be interested in producing some content to showcase why BabyCoin is the biggest innovation in babysitting since The Babysitter's Club. 

You're also going to want to make your programmers and leads available to answer questions on social media like Reddit and Twitter. You should also consider submitting your ICO to some listings that run databases of what they perceive to be quality ICOs. This is how you get people involved in the crypto-community excited about your product, which will hopefully trickle through the internet.

Great! So the word is out about BabyCoin and people are psyched, all that's left to do is determine the token pricing and distribution. You also might want to have a prototype in order just to prove you know what you're doing. Get your website and exchange set up and good luck!

What's With All These Celebrity ICOs?

If you've seen your favorite actors and entertainers like Jamie Fox and Ghostface Killah encouraging their followers to invest in a hot new ICO, you might want to take a closer look.

Boxing superstar Floyd Mayweather Jr and DJ Khaled promoted Centra, an ICO that raised $30 million at the end of 2017, but multiple reports claim that Centra is currently embroiled in a class action lawsuit for allegedly selling unregistered securities. It remains to be seen what will happen with the lawsuit, but it’s worth noting that some of Khaled's and Mayweather's social media posts about the ICO have been deleted.

 

 

By Benjamin Sherry | Updated January 29, 2018

INVESTOPEDIA

https://www.investopedia.com/news/what-ico/?utm_source=personalized&utm_campaign=www.investopedia.com&utm_term=12147163&utm_medium=email

 

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