I've hit a roadblock in my blockchain project... how should I approach the ICO??

semobo

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Quote from: TatsuJoestar on July 08, 2020, 09:48:19 PM

I've been working on a new project for months now. I've finally reached the stage where I am days away from launching an informational website about the project and the token that powers it. I've been trading altcoins since 2018 and have owned BTC since 2015, but I've never really gotten involved with a coin during the ICO phase. I understand the concept, and how it works. But the implementation has stopped me in my tracks...

It seems like there are so many ways to approach it, and the surface web only provides general knowledge, "Use bounties, but don't over use bounties!" "generate excitement on forums!" all of which amounts to useless drivel. I'm an idea guy, I'm passionate about the technical side, solving puzzles, fleshing out ideas and bringing them to life. I don't know about, or have any interest in learning about, marketing. So what should I do here? Once I have the info site up where do I go from there? Should I fork up the absurdly priced "ICO agency" fees (some of which start around $50k) and let them handle this? Do I just shill the fuck out of it on here and reddit? What is the industry standard?

This is weighing heavily on me atm, because I know I have a great product. Without spoiling too much, I've solved a massive monetization issue in a multi trillion dollar industry by tying in a "tokenized" payment system. The industry standard monetization in this space is to put the burden on the consumer by flooding the page/content with ads. Or the predatory method of taking huge fees from sales/donations in the range of 20%-50% from "vendors". Again, without spoiling TOO much, I believe I have solved these problems by utilizing the blockchain. Although, I suppose that would be for the community as a whole to decide. So help me get to the next step by pointing me in the right direction for my ICO! Thanks for reading Cheesy

-Tatsu

If you believe that you have a great project then you can go for IEOs which has more chances of success compared to ICOs, but I don't think you can do this all alone, you need some investors to fund the project for advertisement purpose and its your skill to find them.If you have no other choice then go with ICO and promote project via ICO, it will still get the attention from investor if the project is unique and great as you are portraying.

Greatdev

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I believe you need a team, experts within blockchain technology world and them abandon ICO for IEO, do not use ICO because investors don't want them anymore, IEO works better, find a better exchange and do some deal, raising funds through IEO works better

TatsuJoestar

newbie

Activity: 3

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Quote from: SuckMyToys! on July 08, 2020, 10:42:00 PM

Congrats if you've finish for your idea, time, and effort.

Thank you, I've put in a lot of work! Cheesy

Quote

ICO such not really being good idea to collecting money to run the idea. If you already found idea from those problem and feel like you could solve those problem. You must explain and expand your idea to those company or agency, why they must using your idea. Since they had problem on it then get a way to solve the problem, I though they could be deal with you.

Actually I am deploying this as a platform to compete with those companies using our token monetization implementation as a way to attract their customers and vendors. The problems we solve are problems for those that use the current platforms, not really problems for the people that run those platforms.

Thanks for your advice Cheesy

-Tatsu

TatsuJoestar

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Activity: 3

Merit: 0

Quote

Imo, this is a waste of money. I would try to contact investors directly. If you don't know anyone who could be interested in your project, maybe you shouldn't be working at it.

I feel like it's a waste of money as well, but it is an available option so I figured I would gauge the community opinion on it. Everyone I know who is familiar with programming or cryptocurrency instantly jumped on board the project or invested already(the list is small tbh). As for the idea that if you don't "know" anyone interested, you shouldn't do it... well I don't know many people since I'm more of a recluse and prefer personal space. I won't waste my time listing off innovators in every industry who have similar tendencies, especially since your comment seems more like a passive aggressive jab, as opposed to genuine advice. Needless to say, without their inventions you're life would be quite different.

Quote

However, bitcoin already does what you plan to "tokenize"... Unless you can propose something new, I don't think you should work at it.

Bitcoin doesn't solve any of the problems that my project does(platform monetization without the need for ads or huge vendor revenue "rake"). Although, I'll admit my project isn't doing anything extremely revolutionary as far as blockchain technology goes (It does do something unique involving POS but not particularly innovative imo). It's more of an implementation solution. Also you could argue that bitcoin does what dozens of useful coins that have come since do, but bitcoin does it poorly, or isn't finely tuned for those implementations. So I don't really see how your point is relevant. Seems short sighted at best, trolling at worst.

Thank you for your advice Cheesy

-Tatsu

SuckMyToys!

newbie

Activity: 5

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Congrats if you've finish for your idea, time, and effort.

ICO such not really being good idea to collecting money to run the idea. If you already found idea from those problem and feel like you could solve those problem. You must explain and expand your idea to those company or agency, why they must using your idea. Since they had problem on it then get a way to solve the problem, I though they could be deal with you.

Good luck.

Coin_trader

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Form a team that willing embrace your idea and polish your your project. It's hard to brainstorm alone since it is stressful. The funding on your is easy as long as you have a solid product to show case on your potential investor. If you are in doubt about the outcome then you should post because the ICO can wait and you have a lot of time to think about the project development. No one is rushing you to launch your project unless you are really in need the money you will going to collect.

Keep safe and good luck!

bitmover

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Quote from: TatsuJoestar on July 08, 2020, 09:48:19 PM

Should I fork up the absurdly priced "ICO agency" fees (some of which start around $50k) and let them handle this?

Imo, this is a waste of money. I would try to contact investors directly. If you don't know anyone who could be interested in your project, maybe you shouldn't be working at it.

Quote

This is weighing heavily on me atm, because I know I have a great product. Without spoiling too much, I've solved a massive monetization issue in a multi trillion dollar industry by tying in a "tokenized" payment system. The industry standard monetization in this space is to put the burden on the consumer by flooding the page/content with ads. Or the predatory method of taking huge fees from sales/donations in the range of 20%-50% from "vendors".

Bitcoin already does that, and bitcoin was created without any ICO and without any funds. You have 50k that you plan to spend in marketing. I would do your project with those 50k.

However, bitcoin already does what you plan to "tokenize"... Unless you can propose something new, I don't think you should work at it.

TatsuJoestar

newbie

Activity: 3

Merit: 0

I've been working on a new project for months now. I've finally reached the stage where I am days away from launching an informational website about the project and the token that powers it. I've been trading altcoins since 2018 and have owned BTC since 2015, but I've never really gotten involved with a coin during the ICO phase. I understand the concept, and how it works. But the implementation has stopped me in my tracks...

It seems like there are so many ways to approach it, and the surface web only provides general knowledge, "Use bounties, but don't over use bounties!" "generate excitement on forums!" all of which amounts to useless drivel. I'm an idea guy, I'm passionate about the technical side, solving puzzles, fleshing out ideas and bringing them to life. I don't know about, or have any interest in learning about, marketing. So what should I do here? Once I have the info site up where do I go from there? Should I fork up the absurdly priced "ICO agency" fees (some of which start around $50k) and let them handle this? Do I just shill the fuck out of it on here and reddit? What is the industry standard?

This is weighing heavily on me atm, because I know I have a great product. Without spoiling too much, I've solved a massive monetization issue in a multi trillion dollar industry by tying in a "tokenized" payment system. The industry standard monetization in this space is to put the burden on the consumer by flooding the page/content with ads. Or the predatory method of taking huge fees from sales/donations in the range of 20%-50% from "vendors". Again, without spoiling TOO much, I believe I have solved these problems by utilizing the blockchain. Although, I suppose that would be for the community as a whole to decide. So help me get to the next step by pointing me in the right direction for my ICO! Thanks for reading Cheesy

-Tatsu

Topic: I've hit a roadblock in my blockchain project... how should I approach the ICO?? (Read 176 times)