Going through an ICO is not like going through an IPO. It’s not like a traditional fundraising round either.
This article, by Jason Goldberg, called Insider Reflections on the ICO Bubble, Part II: What it takes to ICO is probably the best I have read in the last year.
He blows out of the water the misconception that “ICOs are easy.”
Doing it right is far from easy.
He lists 31 different things he learned that are all valuable.
I thought there were a few key points worth highlighting.
- focus on community…over 100,000 Telegram responses and the near 100% conversion rate between engagement and purchase of token
- the lengths to which they went for token key management
- the KPI of “speed of KYC request processing”
- the efforts required to ward off scammers
We’re watching the birth of an entirely new fundraising model that will be around for a long, long time, I believe.
If you have not done an ICO, that is fine.
However, not doing what you can to educate yourself and manage your expectations about what is involved in an ICO is just irresponsible–if you plan on being in the crypto world for any length of time.