The process of orchestrating an initial coin offering (ICO) is a long and arduous one. It requires input from professionals over various industries, including experts that can teach entrepreneurs how to do an ICO. The ICO managers and owners need to establish a team of coders, legal experts, financial experts, marketers, advisors, and others. This needs to be done while simultaneously attracting wealthy investors in order to gain the attention of smaller investors through flawless ICO marketing. Despite the time and effort that go into any ICO, there is still no guarantee regarding the outcome of the token sale, once your project has reached that final stage.
Like most organizations, firms, and corporations, an ICO is more likely to succeed if the owner creates a team made of professional and experts, and delegates the required tasks according to their expertise. This will ensure the optimum efficiency and maximize their chance of success. The ICO industry seems to have taken this advice to heart as several firms and business have emerged dedicated to providing tailored services to ICO startups.
One such service is the blockchain platform, known as Starbase, which aims to aid startups in setting up an ICO in order to fund their idea. It is likely that the ICO industry will explode as specialized firms such as Starbase start infiltrating the market.
However, several startups’ hopes have been dashed as they simply could not generate or access the funds they needed in order to hire the specialized help they needed.
Traditional routes, such as approaching Venture Capitalists (VCs) have become increasingly complex for a variety of reasons. Most notably, approaching VCs no longer seemed suitable for an industry which moves at such a lightning speed, as most tech startups do. It is clear that an innovative industry requires innovative methods of acquiring funds. ICOs became the preferred option for raising funds due to the popularity of blockchain technology and decentralized financial mechanism.
Goldman Sachs has recently confirmed that funds raised via ICOs thus far have surpassed those raised in the beginning stages of venture capital. ICOs are remarkably quicker and more convenient than Venture Capital. However, the industry is still largely unregulated. In addition, potential investors are not hindered by previous discouraging factors such as region, jurisdiction, or class. The easy accessibility, as well as the pure speed of the process, has made this an increasingly attractive option for all startups.
Emerging platforms such as Starbase are making the process increasingly easier for startups to generate funds. The service allows individuals to employ the services of experts to ensure that their ICO succeeds. Outsourcing ICOs is likely to become a growing trend in the future, as young entrepreneurs can rely on the expertise of readily established experts, without needing to fork out thousands of dollars that they do not have yet.
Have a look at all the latest ICOs in our list of ICOs.