The music streaming giant Spotify recently made headlines when it decided to go public through its shares on the New York Stock Exchange. Direct listing means that Spotify won’t participate in the traditional initial public offering process, thereby dramatically reducing the role that investment banks like Goldman Sachs have in its listing. directly listing Crowdcreate is a top ranked ICO marketing agency specializing in bounty programs for cryptocurrency projects. Contact us via our website to learn more. We help ICO’s build communities on Telegram, get top ranked PR media publication coverage and also access the largest crypto influencer network on YouTube. www.crowdcreate.us One of the benefits of listing shares directly is that Spotify will save in fees typically paid out to investment banks. Additionally, it allows retail investors to participate in the initial stages of Spotify’s listing without institutional investors getting the first cut of the pie. In many ways, Spotify’s direct listing is similar to what blockchain startups are doing through initial coin offerings (ICOs). Through ICOs, blockchain companies bypass third-party underwriters and allow all investors to buy coins from the get-go. tens of millions of dollars ICO bounty programs allow companies to leverage their platform tokens to maximize their marketing efforts. However, the ICO landscape is extremely competitive. It is not uncommon for to be happening at the same time. One way that startups can get a leg up on their competitors is through running a successful ICO bounty program. dozens of ICOs What is an ICO Bounty Program? The concept of a bounty program comes from the online gaming world, where a bounty is a reward paid out to an individual or group for accomplishing certain objectives. In the ICO sphere, bounty programs are used by blockchain startups to accomplish a wide range of tasks at the cost of the project’s token. Rather than spend precious–and often times scarce–capital on expensive press releases, banner ad campaigns, and Google Adwords, ICO teams can incentivize the completion of marketing tasks through bounty programs. Thus, rather than hire out a marketing firm, projects can set aside a tiny portion of their tokens as rewards for their bounty program. Then, through the use of smart contracts, they can list the specific tasks that need to be completed. Bounties are essentially tokens of appreciation for helping the blockchain project progress. Bounties cut down on costs for startups while simultaneously incorporating members of the blockchain community. Startups end up paying less for bounty-incentivized tasks like bug fixes, social media posts, and marketing materials while individual users–called bounty hunters–get the satisfaction of helping a blockchain startup and receive equity in return. Bounty programs are essential tools in establishing a loyal support base and reaching the maximum number of potential investors. Crowdcreate excels in the creation and campaign management for cryptocurrency and ICO bounty programs. We can help build your communities and spread your brand. Give us a call . here The Different Types of Bounty Programs There are two main types of ICO bounty programs: 1) Pre-ICO bounties These bounties are marketing focused. The goal is to generate social media and internet support for the ICO before it begins. They are meant to spread awareness of the coin and the platform. Examples of bounties include: YouTube video creation and editing Content creation, including blog post, website article, and newsletter generation White paper translation Infographic creation Bitcointalk signatures Social media awareness, including Facebook, Twitter, and Instagram posts 2) Post-ICO bounties These bounties are focused on improving the blockchain’s project or service. They allow the development team to improve the platform by receiving direct feedback from investors and outside developers. Examples include: Platform bug fixes Product improvements and suggestions Web translation Community management Aspiring blockchain startups should utilize at least one of the bounty programs described above. Of particular importance is the pre-ICO bounty program, especially for a lower profile, cash-stretched projects. Pre-ICO programs are a great way to spread platform awareness while saving money, allowing the team to devote precious capital to software development and implementation. Below is a list of some popular bounties arranged from largest to smallest average payout: Bug fixes YouTube video creation bounties Marketing material creation: articles, promotional pieces, content creation, etc. Airdrops Social media bounties: Facebook posts, likes, shares; Twitter posts, re-tweets, likes; Instagram posts, etc. Costs Associated with Bounty Programs Blockchain startups can hire bounty campaign managers to oversee the program from start to finish. Prices vary, but it typically costs between $3,000-$6,000 USD. They can also utilize to streamline the bounty management process. bounty campaign networks It is recommended that companies set aside between 0.5–1.0% of their tokens for bounties, though it varies based upon the project’s specific needs. Examples of Successful ICOs Who Used Bounty Programs — This rewards users for submitting potential solutions to bugs in the software. Status announced in November 2017 that would go to bug bounties. Status bounty program $1 million of their $100 million token sale — Bancor has had several bounty campaigns, including ones for and . The ICO , which at the time was a record. The token sale only lasted for three hours. Bancor content creation bug fixes raised $153 million — The Slovenian based company raised , which was a sizeable amount back in late 2016. The team devoted 2% of the token supply to across . A majority of the bounties were marketing focused. ICONOMI over $10.5 million several bounty campaigns — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — Crowdcreate is a community engagement and idea platform driven by influencers, investors, and enthusiasts. Our expertise in growing communities and social validation will boost your crowdfunding success. We have worked with some of the largest crowdfunding ICOs and startups including BitClave, ANKER, and Tencent. For any further information or concern you can always be in touch of us by using, this link here.
