and you should be prepared to answer.
Community Needs Answers To Invest With Confidence
The ICO community or let’s say the whole blockchain space has grown smarter these days. Had it been the year 2016 or time before it you could have secured millions by coming up with a great idea and writing an attractive as well as easy to understand white paper for same.
In 2017 aside from the idea and the whitepaper, success greatly depended on the number and names of industry veterans you could get onboard as advisors or team members (face value capitalisation I call it).
However, this is the year 2018. A time when the community has turned smarter, developed better understanding of blockchain and are ready with questions which you need to answer if you want to have your project to have a shot at raising funds and reaching hardcap.
These questions which often takes even the most experienced ones by surprise can often make or break your ICO. While there are tons of such questions asked, below are the top 10 which are most common to be asked nowadays:
10. Does your bounty/airdrop require KYC?
9. When will I get my (bounty/airdrop/purchased) tokens?
8. How will your platform (or its particular feature) work?
7. Why is your rating on (any rating website) so low?
6. How many funds have you already raised?
5. How are you better than X (X being your competitor)?
4. Does your bounty/ airdrop require KYC?
3. When will your token/coin be listed on exchanges?
2. ICOs aren’t legal in my nation, can I still participate?
- Why is this project not a SCAM?
There is no ‘right’ answer to these questions. This list only gives you an insight into the types of questions which you should have answers for.
The last question however, is one which has surfaced recently across most ICO community groups and even the veterans find it difficult to answer.
Just like the age-old recruitment question ‘Why Should We Hire You?’, if answered right was enough to get you your dream job, the question ‘Why Your project isn’t a SCAM’ can encourage your community as well as your investors to invest with confidence.
If you also faced any such questions which left you thinking, let me and the community know about them below.