Advisor's Role in an ICO? | Bitcointalksearch.org

justbfa

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Quote from: Taplu on November 23, 2017, 04:37:00 AM

Hi Folks. Can anyone please help me understand what all comes under the role of being an Advisor for an ICO?? What are the responsibilities of an Advisor?? Any insight will be highly appreciated.

The name ICO Advisor has become a celebrity title.
Don't be fooled about such name. Let me give you this scenario.
I'm a digital media consultant, if a company is willing to do an ICO, I will simply offer them my service (Now the project owner will call me ICO Advisor and statement what I will be doing for them publicly for everyone to see.

The essence of my involvement should be to bring my expertise to the project not just title ONLY

J3V1L4

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Quote from: win z on November 23, 2017, 02:34:18 PM

I'm an advisor to 3 ICO's at the moment. What's expected from an Advisor are the following:

1. Whitepaper review
2. Token sale structuring
3. Token economics
4. Pre-sale investor introductions
5. Engaging with community for ICO
6. Introductions to other Advisors, Exchanges, Investors, Lawyers, tax-advisors etc
7. Regulatory compliance
8. Legal compliance
9. Smart-contract code review
10. Marketing, PR & Branding tips

Surely that whats expected, but how many advisors actually does this? Sorry, but I think being an advisor on more than 1 ICO at a time, is just not possible, if you truly are advising, and not just putting your name on a site and WP for some tokens.. Would love to hear your arguments for the opposite?

Emoss3417

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This is a good thread.

stingraydiver

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An ICO advisor can offer industry knowledge and feedback. I would be cautious of an ICO project that did not have someone with years experience in the business as an advisor. They can help navigate rules, regulations and pitfalls. It is pretty important to have real world experience on your ICO team.

leonardian_project

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When you are starting an ICO, one of the things that gives you instant credibility is the advisors you pick. With the right advisor, you can get access to big investors, PR, and analysts. If you are marketing an ICO, you need to remember that your advisors are a key part of your marketing channel. You need to keep them interested. More importantly, you need to arm them with data and facts to help them help you.

Xynerise

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39twH4PSYgDSzU7sLnRoDfthR6gWYrrPoD

They are just titular figureheads.
They do not do anything at all, it's just to make your ICO look credible or attract investors when they see a bigwig name on your "advisor" list.

Mayapurnamasariazhari

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Basically they will guide the company has let go of the ICO about the things of the law most of the time. Release the ICO without following appropriate legal action can bring you in a serious situation. Then a company is not as easy as we imagine releasing the ICO for granted

Anti-Cen

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High fees = low BTC price

Quote from: erickkyut on January 21, 2018, 06:45:36 AM

I think an advisor should be someone very influential and at the same time have so many experiences with cryptocurrencies. His role is to give good advice on everything about the project. Their marketing strategy, project development processes, its mission and vision, short term and long term goals, etc.

This AI is really getting good people and you should buy in on this one because you soon won't be in a
position to know who's human and who's not on forums anymore.

Sophia did they let you escape from Cog-Net again and can you run this code for me please

while (true)
{
Thread.sleep(10000)
}

cryptocropty

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If you don't mean the legal advisor: It's the same purpose as in startups or "traditional" crowdfundings - complement the core team by people with more knowledge to have a higher success chance.

erickkyut

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I think an advisor should be someone very influential and at the same time have so many experiences with cryptocurrencies. His role is to give good advice on everything about the project. Their marketing strategy, project development processes, its mission and vision, short term and long term goals, etc.

jargal

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Quote from: agorkems on January 19, 2018, 06:41:02 AM

One thing that Vitalik pointed out is for ICOs to be more specific on what the Advisor's Role is. Currently, it is just getting influential individuals to the project and a brief explanation of their background. Each advisor involved in the project definitely has some things they can contribute greatly to ensure the success of a project and that is why we need to know more of what they can do and will be doing in the project and the responsibilities they have been involved. Not just finding some irrelevant famous guy to fill the slot.

Can you give me a link to VItalik's comments please?

agorkems

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One thing that Vitalik pointed out is for ICOs to be more specific on what the Advisor's Role is. Currently, it is just getting influential individuals to the project and a brief explanation of their background. Each advisor involved in the project definitely has some things they can contribute greatly to ensure the success of a project and that is why we need to know more of what they can do and will be doing in the project and the responsibilities they have been involved. Not just finding some irrelevant famous guy to fill the slot.

DAVETUN

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Bitcoin is the currency of this age

An advisor role is quite important in an ICO,you choose base on his/her experience in the area of your need for the project,but lately they are now use as marketing tools to influence the project acceptance.

CryptoBitcoinOfficial

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advisors provide the intellectual underpinnings to help the ICO’s management team successfully launch the ICO, start the business, and stay ahead of compliance regulations.
A good advisor can take an ICO, which tends to be no more than a vague idea at the beginning, and help build a roadmap for the ICO, the proof-of-concept, and actual production
Also well known figures with previous experience can boost the credibility, trust and hype for the project

jargal

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There seem to be two understandings of what "advisors" are in this thread...
On the one hand you have people who "sponsor" your project in that they share their legitimacy with it, e.g., by endorsing on your project's website.
On the other hand, you have legal/finance/marketing advisors... who help you with the corresponding aspects of the process.

thr3

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Most advisors in the ICO space are not directly involved in the development or decision-making process. They essentially lend their name for marketing purposes in exchange for payment or tokens. I personally do not trust advisors as I know they are looking after their own interest. Just like stocks, do not follow the herd, understand your risk factors and then invest.

TimtheYoutuber

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www.positivebetting.com

No one really knows as most ICO's dont have information that explains what they do. Which is why we need new standards, you should check out my thread : https://bitcointalksearch.org/topic/m.23732348

chrisrok

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Quote from: Taplu on November 23, 2017, 04:37:00 AM

Hi Folks. Can anyone please help me understand what all comes under the role of being an Advisor for an ICO?? What are the responsibilities of an Advisor?? Any insight will be highly appreciated.

Well actually, the most important thing is that they give their names and the ico seems more important due to that.

Norihiro

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APOLLOX Protocol

I totally agree with the question. The reason is that a lot of ICOs nowadays hire an advisor with a "name" just to promote the product and it is not a guarantee of good product at all...so, yes, I would be very pleased if someone could clarify what's actually happening.

win z

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Nucleus.Vision

I'm an advisor to 3 ICO's at the moment. What's expected from an Advisor are the following:

1. Whitepaper review
2. Token sale structuring
3. Token economics
4. Pre-sale investor introductions
5. Engaging with community for ICO
6. Introductions to other Advisors, Exchanges, Investors, Lawyers, tax-advisors etc
7. Regulatory compliance
8. Legal compliance
9. Smart-contract code review
10. Marketing, PR & Branding tips

Topic: Advisor's Role in an ICO? (Read 744 times)