The Initial Coin Offering (ICO) is one of the much-anticipated crowdfunding mechanisms chosen by entrepreneurs or startups. Most of the time, ICOs are considered only as an event to raise funds. But the real success of an ICO depends on the demand of its tokens. By increasing the demand for your tokens, you can increase the value of your product. This is much needed by organizations or startups that are based on blockchain and the crypto space.
These ICO platforms are developed by developers who have hands-on experience. Generally speaking, these companies are called ICO development companies, where they have a myriad of developers with good knowledge of blockchain and cryptocurrencies.
What is an ICO development company?
An ICO development company is an entity that helps entrepreneurs or startups to launch their ICO to raise funds. The ICO development companies will provide complete services right from designing and developing to post-launch services.
As an ICO development company, it undergoes several steps in developing a robust ICO platform for startups and entrepreneurs to conduct their crowdfunding activities. Below, I have mentioned the steps undergone by these ICO development companies in creating their ICO platforms,
- Pre- ICO launch services
- Post-ICO launch services
The services are categorized into two: one happens before the launch, and the other is concerned with post-launch services.
Pre-ICO launch services
The Pre-ICO launch is an initial stage where we will start with the idea formulation, product modifications, and all. During this stage, it provides an ‘n’ number of services ranging from PR, Social media, marketing, white paper, technology set up, and many more such services.
ICO planning and analysis
This is the first step to get started with the ICO development. When the company is ready to go for its ICO, it’s important to evaluate its business model. In the next step the market experts will evaluate the business ideas and predict what works and whatnot. Prior to proceeding with the ICO development, you have to think of possibilities to integrate your business ideas with the blockchain.
Once the planning is over, the ICO development company will start presenting the ideas in the market through various internet platforms.
Preparing Whitepaper report
Once the ideas are formulated for the ICO, we can proceed with preparing the whitepaper reports. Preparing an effective whitepaper report is one of the important functionalities. A genuine white paper should contain every information about the business model, investors, an estimation of the funds needed, a proposal on the expected expenditure, etc. When selecting your ICO development company, ensure if they can provide you with the best whitepaper assistance.
ICO website designing
In order to allure a large number of people to your platform, you need a user-friendly ICO website. The website should contain all the relevant and convincing information that can allure the customers towards your platform. If your ICO development company is expertise in web design, you can also ask them to assist with web development as well.
Token development and evaluation
Firstly, analyze the needs of the business and then finalize the token for the same. The ICO development companies should also provide tokenomics services by analysing the soft cap, hard cap, number of tokens for sale, and value of each token for your project. There are two phases in it. They are presale, and public sale.
Pre-ICO marketing service
Marketing is the tool that takes your project to the next level. How much ever you spend on developing an ICO platform, the same attention has to be given to marketing services. Digital platforms will be a great choice for you to market your ICO platform. So you can promote or market on social media networks like Facebook, Twitter, Linkedin, etc.
Smart contract development
Smart contracts are the base without which you cannot proceed with the ICO development. It gives complex business logic to the ICO tokens. It provides ultimate security and transparency for the platform. This also automates the entire operations and functionalities of the platform.
Cryptocurrency wallet development
ICO is all about involving cryptocurrencies in transactions. A cryptocurrency wallet is necessary to store all the transactions that happen throughout the ICO. The ICO development company will take care of building strong and robust cryptocurrency wallets to store the currencies during the transactions.
Post ICO services
After the ICO launch and development , you can proceed with the ICO token sale and exchange. Here, the investors will transact their fiat currencies in exchange for ICO tokens or ICO coins at this stage.
Integration of blockchain technology
By integrating the blockchain across various multiple enterprises and helps in regulating and automating the platforms.
Industries and sectors that are using blockchain technology inadvertently.
Here, blockchain tracks the transactions between the drug manufacturers, patients, physicians, pharmacists, etc. Through this, they can check and verify the drug information.
Banks and financial institutions
Employing blockchain technology will help the banks to track cross-border transactions. It also paves the way for quick transactions and settlements among the users.
Through blockchain technology, real estate can connect the buyers and sellers potentially. This comprehensive platform will also provide a forum for enabling real estate transactions.
ICO is the perfect way for entrepreneurs and startups to raise their crowdfunding. Supported by blockchain technology and cryptocurrencies, it offers the best platform for companies to raise their funds securely. In case you are looking for an ICO development company, then hire top-notch companies to raise the exact amount you require to build your idea.