Topic: Difference between Setting up a Token and running an ICO campaign (Read 132 times)

Setting up a Token and running an ICO campaign are 2 different things.

1) There are many quotes out there for starting an Ethereum ERC20 Token with smart contracts. They range from $1000USD - $5000USD. It all depends on the complexity of your smart contract tokens.

2) Starting and continuing an ICO campaign is the most expensive process. For that you will need to spend $15K-100K (for an average ICO), Generally will take 2mo-6mo to properly run an ICO.
The more you spend on advertising the greater your penetration in the marketplace will be. You will be competing with companies who have crowdfunded, and have tons of cash to spend. Example would be EOS, which is spending probably a minimum of $250K per month on just placement, PR, Keywords buys, influencers, tours and tech team, security protection. Getting it listed alone can cost you $100k as exchange listing fee.

Another thing you have to remember is that about 80% of all ICO 's get hacked, and either they loose the funds collected and or tokens supplied.

There are a lot of moving pieces, and if you are going at it alone you are going to feel overwhelmed.

You need strategic partnerships, find people who will add value to your project is an important step before starting a project.

Also if your serious about your project then you should have a team of people working on your goal, and that can be costly too.

Although, If your just practicing and learning, then you can probably do it yourself for under $5K, though don't expect a huge return, you might just break even, but the knowledge you gain invaluable.