Empower your business with blockchain solutions. Unlock new opportunities with our expert blockchain developers.
Streamline your supply chain with custom software solutions. Optimize processes and boost efficiency with our professional dev team.
Unleash the power of innovation in healthcare! Our custom software solutions bring improved patient outcomes and streamlined processes.
Transform finance with our fintech development services. Drive growth, improve efficiency and boost performance for your financial services.
We develop software that covers multiple platforms—web, Android/iOS, smart TV, wearables, IoT.
Umbraco is an open-source CMS platform for publishing and managing website or intranet content.
Flutter is Google’s UI software development kit for building natively compiled mobile, desktop & web apps.
Python is a general-purpose programming language for crafting desktop & web apps.
PHP is a general-purpose scripting language suited to dynamic web pages.
TypeScript is a programming language designed by Microsoft covering both client-side and server-side development.
Vetted Blockchain Developers From OpenGeeksLab
We believe that IT is about the team, about ideas, about the talent to see the world a whole lot differently. About constant discoveries. And, first of all, about people. Therefore, we offer you business opportunities where others see obstacles to bring the most courageous dreams of yours into reality.
Current job openings.
References from our clients.
Detailed profiles of the Geeks.
Get to know our company’s mission, vision, and values.
OpenGeeksLab believes that overall success depends on each team member.
See our go-to-market playbook on how we transform your idea into a functioning and reliable tool to achieve targets set
Over the last few years, we have witnessed how the cryptocurrency ecosystem has been reshaping financial services and the rest of the world. More and more entrepreneurs wanted to harness the power of distributed ledger technology and release blockchain-based solutions. Initial Public Offering or ICO launch has become a popular method of raising funds for such projects.
Regardless of whether you are new to ICO development or an expert who has completed many successful projects, there are specific steps you should take to launch an ICO to win the fundraising game. Though this method offers many benefits over traditional funding solutions, it can be challenging if you rush into it unprepared.
If you are into ICO development, you will find this piece helpful. In today’s article, OpenGeeksLab will route you through all stages of the process: from planning and development to launching an ICO. Let’s dive in.
To start with, we use the term ICO development to define the situation when entrepreneurs create and sell digital tokens to investors to raise money for their blockchain-based projects.
Suppose you consider building a decentralized lending and borrowing application, which allows users to take loans using digital assets and decentralized finance (DeFI) protocols. Such apps are a good alternative to traditional lending in terms of security, flexibility, and lower fees. So you have got a potentially profitable idea. Now you need funds for making it real.
When it comes to ICO, entrepreneurs have two available options. Business owners can either develop crowdfunding for themselves, or hire a seasoned ICO services company.
If you are interested in cryptocurrency, you probably know that the term Initial Coin Offering was used for the first time by R.J Willett, founder of Mastercoin (Omni), which eventually has grown into a huge ecosystem in 2013.
Willett launched ICO for Mastercoin in July 2013. He sold digital tokens to early investors in exchange for Bitcoin. Ultimately, R.J Willett managed to raise $500,000 worth of Bitcoins.
Another successful example is Ethereum’s ICO, which took place in 2014, when investors purchased 50 million ether tokens for $0.311 per item. On May 12, 2021, when the price reached $4,382,73, investors got a 1,408,903% return on investment.
Finally, we cannot but mention NEO, commonly known as China’s Ethereum. Its Initial Coin Offering got huge support from the Chinese government and technology giants like Alibaba and Microsoft Inc.
A financial report by the NEO Foundation stated that the ICO raised $97,517 along with 8,169 bitcoins, which were later liquidated for over $8,3 million by February 2018.
Unfortunately, NEO could not surpass Ethereum, and its price dropped from $180 to $40 in September 2021.
To sum up, potentially high return on investment and decentralized nature of blockchain are the main benefits of ICO, which contributed to this fundraising method.
When it comes to transitional fundraising, you can use standard crowdfunding platforms to finance your projects. However, if you create an ICO, you sell tokens on platforms with specific functionality that includes automated token distribution or secure wallet implementation. If your venture is in demand, the token value increases. As a result, investors get more valuable rewards.
Initial coin offerings can be private or public. See the difference below:
We have discussed the basics of ICO development and explored its most successful examples. Now we offer you a closer look at how ICO services function. Armed with these valuable insights, you will be able to define which option works best for your future token sale.
In contrast to stocks, tokens do not offer equity in an organization. The acquisition of your ICO digital assets by investors typically means they get some part of a service created in your company. When it comes to ICO development, blockchain is integrated with the help of proven platforms such as Ethereum, ensuring that the process of ICO token development will be implemented with minimum code changes.
When ICO is launched, tokens can be traded for cryptocurrencies. Alternatively, they can be exchanged for flat money.
Since token sale and decentralization are relatively new terms, there are many tricky nuances you may find difficult to understand. It means that you need a thought-out strategy to manage an initial coin offering successfully.
ICO development, being an entirely new phenomenon, has reshaped the financial and technology industries. However, unified laws and regulations governing this capital-raising method are yet to be established. The existing ones vary greatly from country to country.
The lack of consistency in jurisdictions made it necessary to study regulatory frameworks deeply before delving into fundraising. Legal issues arise around non-fungible tokens, too, but that is a different story. With ICO, while some European countries, for example, France, are thinking of compiling new patterns for token issuances, other countries like China and South Korea banned ICO development completely.
In the USA, Initial Coin Offering is governed by The United States Security and Exchange Comissions, which regulates not only ICO launched by American companies but ICO tokens available to US citizens as well.
Australia, New Zealand, UAE, and Hong Kong, went the other way and developed and published straightforward and transparent protocols to regulate ICO development and make initial Coin Offering more attractive.
To sum up, each country has different regulatory policies regarding crypto-based businesses. You have to explore each case individually or hire seasoned lawyers with vast expertise in this field.
Whether you succeed in ICO development depends upon many factors. One of the must-haves is a whitepaper. This document contains the primary information about your venture, namely the project outline, chosen blockchain technology, development team, and business potential for investors.
Other aspects of your project that may be described in a whitepaper include mission/vision, objectives, intended funds use, target audience, roadmap including critical milestones, timetable for a token sale, and other practical details.
Moreover, your ICO whitepaper should have a budget breakdown that will show investors how you plan to spend the money you will get and help them assess your project plan and ensure that your idea is worth investing in.
Don’t forget to uncover risks that may arise from relying on a new technology and explain how you are going to mitigate them.
Finally, explain the technical description of ICO development in simple terms to demonstrate that you understand the process.
It should be noted that the whitepaper is, first and foremost, a business document, so you should not overload it with too much information. Besides, the content of your whitepaper should have the highest quality. Otherwise, you will not be able to convince investors to support your project idea.
The importance of writing a good Coin Offering Whitepaper should not be underestimated. At the end of the day, this document will determine whether your projects will attract investors and get the required funding. Therefore, to ensure the highest quality of the Coin Offering Whitepaper, it would be best to hire a seasoned ICO development company to write this document for you.
When preparing to launch an ICO, you should carefully analyze its main pros and cons. Thus, you will be able to understand whether it is worth the hype and make the right decision.
You Name the Idea, We Bring It to Life!
Contact us right away to know how our pros can transform your business with custom ICO development services.
Before choosing ICO development services, it is great to learn its advantages and disadvantages. The perks cover the following:
Now when you know ICO development benefits, let us talk about possible stepbacks.
You should analyze all those pros and cons before investing your time and money into ICO development services. Explore the topic carefully and you will be able to make ICO development smooth and effortless.
Initial Coin Offering is popular among businesses and ICO developers due to their simplicity and time-saving. However, to ensure the smooth and seamless process, you need to follow certain development steps. Let’s discuss each of them:
A successful launch of the ICO design process starts with hiring a highly qualified team. Generally, such projects require six to nine specialists that can be divided into two categories: ICO developers and advisors.
Enable potential investors to track the progress of your blockchain-based project by creating a detailed ICO development roadmap. To convince them that your venture has a great chance of success, ensure that you deliver a clear and straightforward project vision and specify SMART goals you expect to achieve. Other vital information that should be described there include the main development stages with clear timelines for their execution. Enable investors to quickly check the work of your team of ICO developers to ensure that your project is headed in the right direction.
A well-developed product roadmap should show potential investors how you are going to transform your business idea into a working and profitable solution.
Before launching an ICO development solution, conduct market research to identify market demand, uncover hidden trends, and get valuable insights into the blockchain industry landscape. It will also reveal growth opportunities and potential bottlenecks.
The ICO development company you will partner with will help you conduct competitor analysis and come up with strategic recommendations on how to improve your profitability.
If you are confident about the project’s success, you can try to demonstrate it in the market through several platforms. Thus, you will get specific feedback and gain attention from particular investors.
We have already mentioned the importance of hiring a reliable ICO development services company to write a successful ICO whitepaper. Let’s check once again what information this document should include:
Typically, it takes around 25-35 pages. We recommend balancing technical and nontechnical language to achieve the best results with your whitepaper.
You need to develop a visually appealing website with simple and intuitive navigation to showcase your ICO development project. It should have relevant, high-quality, and convincing content to grasp investors’ attention.
To present your ICO development, you need to develop an eye-catching, informative, and intuitive website. Here you should publish relevant information about your project that may draw the attention of potential investors.
It is crucial to make an easy-to-navigate and captivating website for presenting your ICO development. To capture potential investors’ attention, it must contain relevant information described convincingly.
It would be a great idea to hire an ICO software development company that will follow the best UI/UX design trends and guidelines to support the ICO launch with an attractive and informative website.
To achieve the best results with ICO development, you need to develop different marketing strategies to promote your project and get support from your vibrant community. The most popular and proven promotional techniques are as follows:
All those marketing approaches will help you spread a word about your ICO and gain the attention of potential investors.
If you have been wondering how to create an ICO token for some time, you have definitely come across different sales models. Let’s discuss each of them in more detail:
All those models are worth considering when planning wider token distribution to quality users. However, if you wonder how to create an ICO token that will bring you a stable income, we recommend avoiding too complicated sales models that can drive away your supporters.
If you want to create an ICO token quickly and efficiently, you should not ignore the importance of smart contracts. They perform multiple functions, be it allowing token holders to sell or transfer their digital assets, handling token purchases, or connecting to the crypto wallet.
Given that, it is vital to conduct smart contracts audits to ensure their security and reliability. When building smart contracts, follow the ERC-20 standard for ICO services, which guides the development of new tokens.
Looking for ICO developers who can build a software product that makes a difference?
Check Out Our Case Studies
Another crucial step is development of a cryptocurrency wallet which will allow you to send, receive, and collect Initial Coin Offering Assets. A reliable ICO software development company will help you with this task.
So, the ICO token development process is finished, and your digital assets can be bought or exchanged, meaning that users can exchange their flat currency to get your tokens or crypto coins instead. If the ICO development was successful and you got the required funding, congratulations. Now, your task is to stick to the promises you gave your investors and stay engaged with your community that encouraged you to create an ICO. Their loyalty will be beneficial for your company in the future.
You need to list your tokens on secure and legally compliant crypto exchanges even when the ICO development process is not completed. By putting your tokens on such platforms, you can promote your Initial Coin Offering organically.
Remember that each platform sets different requirements regarding allowing tokens to be listed there. They may vary depending on your token or the nature of your business. However, some of them are unified. For example, your smart contract should be audited.
The most famous and reliable platforms include Binance Launchpad, Kraken, and Coinbase Pro (former GDFX).
Now that you know the main stages of launching an ICO, you get better chances to deliver a successful and profitable solution.
The ICO launch can be a challenging and tedious process that may take from several months to a year. Luckily the partnership with a seasoned ICO development services provider can make things easier for you and ensure that the whole process will go smoothly.
So if you decided to delve into ICO development and now need a technology partner, feel free to contact us. Our experts will be eager to take on your project and provide you with end-to-end ICO development services.
Need to start a project?
Psychological issues have always been a significant part...
These days many industries enhance and grow their...
Today, geolocation apps revolutionize the digital services market....
If you prefer creating payment gateway software rather...
These days Artificial Intelligence is no longer just...
Luxury items and non-fungible tokens are similar in...
The app development industry can historically be defined...
Metaverse and Web 3.0 forever changed how customers...
Sooner or later, businesses using software to collect,...
The asset and wealth management (AWM) sector is...
What Will You Get?
We will perform code review best practices, and provide a report with the data, including:
How to effectively pitch your business idea to get funded? Get our Startup Investment Checklist!
Wrong e-mail adress
You name your idea, we bring it to life!
Contact us right away to know how our pros can transform your business with custom software development services.
We’re thrilled to hear from you, and will get back to you ASAP. Have an awesome day!
In the meantime, we want to invite you to follow us on LinkedIn.