Over the recent few years, the crypto industry has grown to an extent. There are numerous business ideas available for startups and entrepreneurs in the crypto ecosystem. Those business ideas include crypto token creation, crypto crowdfunding development, crypto exchange development, etc.
Among the above-mentioned methods, crypto crowdfunding is more special. Various crypto crowdfunding methods like ICO, STO, IEO, IDO, and IFO are available currently. Among these methods, ICO (initial coin offering) is more prevalent. In this article, we shall discuss ICO development, how to create an ICO, the benefits of an ICO, etc.
What is meant by an initial coin offering?
An initial coin offering is a prominent crypto crowdfunding method followed by many startups and entrepreneurs for raising funds. In general, the initial coin offering is a modern version of traditional crowdfunding i.e IPO. Using ICO, a maximum level of funds can be raised. Here, funds can be raised with the help of crypto tokens.
There will be no third-party or central authority involvement in raising funds. For the funds raised by the inventors, the startups will offer their newly created crypto tokens in return. After the completion of an ICO, the crypto tokens can be listed in any of the popular exchanges. Now, we shall see the development processes of an ICO.
Simple steps for ICO development
Here, we shall discuss the mandatory steps that have to be followed for initial coin offering development.
Create a Whitepaper
A whitepaper is a technical document that has all the crucial information of an ICO project. It holds all the details like the vision, the mission of the ICO project, team description, roadmap, marketing strategies, details of a crypto token, legal issues, ICO advisory, and all other information about the ICO project.
Make sure that you have included all the above-mentioned information properly included in the whitepaper. Because every investor will decide whether to invest in the project or not only by reviewing the whitepaper. So, be keen while drafting your whitepaper as it will fix the success and failure of your ICO project.
Crypto Token Creation
This is the key factor to be considered for ICO development. You should choose a unique design, symbol, and name for your crypto token. Then you should pick a reputed blockchain for developing a crypto token. Ethereum, Tron, and BNB chain are some of the popular blockchains. Each blockchain has its token standards like ERC20, TRC20, BEP20, etc
Here, many people prefer ERC20 among the other standards.
ICO Website Creation
Only through your ICO website, people will know about your project. So, your ICO website should be informative as well as attractive. All the features, roadmap, and other details of the ICO project should be properly placed on the website.
While speaking of the Initial Coin Offering Development methods, one is a development from scratch and the other is through the script. Developing an ICO platform from scratch is a bit of a complicated process. On the safer side, you can go with an ICO script for exemplary ICO development. To get a first-class ICO script, you can approach a reputed ICO script provider in the crypto space.