Such an abbreviation as ICO literally translates from English as the placement of coins of the primary sample. In fact, this is a certain form for attracting investment money. It consists in the process of selling a specific number of completely new units – cryptocurrency. They can be obtained through a fast or one-time issuance process.
Already, starting in 2017, about $ 5 billion has been attracted here. This was carried out from May to October inclusive, since the hottest point came in November, when another $ 900 million was attracted to the project. For example, if we compare this figure with 2016, then for the same period they were able to collect only about 90 million dollars.
What is the purpose of the ICO project?
All who are the organizers of ICO projects issue their own tokens. After that they exchange them for modern cryptocurrency from investors. Often such electronic currency is Ethereum or Bitcoin. This is done so that in the future it will be possible to launch your own project and engage in its development.
Often, an ICO is held when the project is still at the initial stage of its development. All funds received in this way go to marketing, advertising, or to finance the final stage of developing a specific project. In this, if necessary, the specialists of Eternity Law International will help you.
What are the key components of the ICO?
Any ICO has its own key components, which include:
- site – provides complete information about your individual development;
- development of a smart contract – a certain sequence of actions that is necessary to support and open contracts on a commercial basis operating in blockchain mode;
- WhitePaper – detailed information for leaders, specialists and other representatives, carefully describing the technical side of the project;
- marketing and PR ICO – targeting and contextual advertising, social networks, placement of various articles in the media;
the process of creating tokens based on Ethereum; - carrying out the so-called pre-ICO, this is necessary to develop and collect the most important and necessary connections and contacts.
All investors who purchase tokens at the ICO hope that in the future they will be able to get a much larger profit after their resale, as well as use this type of cryptocurrency for its intended purpose. For additional assistance and information, contact Eternity Law International.