Bitcoin
BTC$29 971.34

-2.51%

Ethereum
ETH$2 037.32

-2.77%

Tether
USDT$0.998813

0.01%

USD Coin
USDC$1.000215

0%

Binance Coin
BNB$300.71

-0.87%

XRP
XRP$0.429229

-2.87%

Community: The Key Ingredient To Every Successful ICO


20 May 2019

#Ethereum

There are many things that can influence an ICO directly. The technology the project, token or coin is based on being one. Another is the idea behind the use of the coin – if there is no utility (or very limited utility) it can impact the ICO negatively. Then there is the team behind the ICO, which is always a factor. However, one thing that many people do not take into account is the social side of things.

The community that is created around a project impacts the ICO more than many analysts would like to admit. The community is a key ingredient and the problem with many ICOs is that they do not work hard enough to build a strong community ethos. Let's take a look at some of the factors that influence and shape the community around a blockchain project.

Core Team: Strong individuals attract larger communities


Just like Cristiano Ronaldo brought millions of fans to Juventus, the same goes for blockchain communities. The reason EOS had such a fantastic ICO was due to Daniel Larimer being part of the core team. He is well known for inventing the Delegated Proof of Stake consensus mechanism. The more achievements someone has prior to joining a blockchain project, the more their social followers will flock to the project they find themselves in.

Partnerships: Showing your worth to people


Having partnerships already agreed with other projects can only be helpful with regards to the community. This also translates directly into a better ICO as you are able to leverage the success and community of another blockchain project in your ICO.

It also does not hurt to have institutional backing. Working with a well-known brand in the early stages of a project will give potential newcomers to your community a sense of legitimacy. Companies such as Fujitsu, Microsoft, and Google have partnered with projects before their ICOs and they have always brought more people into the ecosystem than anything else.

Communication: Your PR better be on point


People talk, people want information and people like it when you pay attention to them. Keeping your small, fledgling community in the loop and taking their advice (though not always) will help in building a robust and inviting community.

The more valued a community feels, the more they will evangelize on your behalf and the larger the community will grow.  Having a great community liaison can be the difference between an OK ICO and a great one.

Token Distribution: No whales, please


If the vast majority of your tokens are held by a small number of people (whales in typical crypto parlance), then why would your community have any reason to feel that it is part of the project? The better your token distribution, the better the community. It does not only help with increasing the size of the community; rather it can help with keeping the price and policies of your coin decentralized as well.

Social Media: Where best to engage?


Social media is a big part of any success these, be it an ICO or a football match. Where you engage with your community is as important as how you engage them. Forums and Reddit are the places you go for in-depth discussion – and many projects were conceived on such sites. Twitter is to go for community engagement, a coffee talk of sorts.

Author: Ali Raza for Crypto-Rating.com

Related

Join Blablagame presale right now
Join Blablagame presale right now
Institutional investment flows out of ETH and into competing L1 altcoins
Institutional investment flows out of ETH and into competing L1 altcoins
BTC and ETH will break all-time highs in 2022
BTC and ETH will break all-time highs in 2022
What Whales and Short-Term Speculators Do
What Whales and Short-Term Speculators Do
Ethereum is like the best and worst parts of New York
Ethereum is like the best and worst parts of New York
How professional Ethereum traders place bullish ETH price bets while limiting losses
How professional Ethereum traders place bullish ETH price bets while limiting losses
Ethereum to $10K? Classic bullish reversal pattern hints at potential ETH price rally
Ethereum to $10K? Classic bullish reversal pattern hints at potential ETH price rally
Ethereum price moves toward $3K
Ethereum price moves toward $3K
Ethereum price could fall to $1,700 if the current climate prevails
Ethereum price could fall to $1,700 if the current climate prevails

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 65.6% 75 $29 971.34 -2.51% -3.34% $570 710 962 296 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 61.6% 77 $2 037.32 -2.77% -12.22% $246 123 619 581 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $0.998813 0.01% -0.12% $75 662 238 918 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000215 0% 0.02% $52 058 478 750 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 64% 71 $300.71 -0.87% -2.82% $49 099 184 129 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 65.2% 70 $0.429229 -2.87% -14.84% $20 750 274 438 XRP 7 days price change
7 Cardano (ADA) ADA Cardano predictions 68.4% 68 $0.563146 -3.78% -12.00% $18 999 983 515 ADA 7 days price change
8 Solana (SOL) SOL Solana predictions 64% 80 $54.72 -2.90% -15.35% $18 451 594 485 SOL 7 days price change
9 Binance USD (BUSD) BUSD Binance USD predictions 90.8% 1 $1.001783 -0.02% 0.32% $18 030 157 670 BUSD 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 61.6% 75 $0.089389 -1.42% -16.39% $11 859 333 710 DOGE 7 days price change
11 Polkadot (DOT) DOT Polkadot predictions 60.4% 77 $10.82 -4.42% -2.27% $10 689 096 556 DOT 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 64% 79 $33.60 -3.32% -21.39% $9 041 716 187 AVAX 7 days price change
13 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 63.6% 75 $29 975.26 -2.44% -3.38% $8 513 091 805 WBTC 7 days price change
14 TRON (TRX) TRX TRON predictions 68.4% 61 $0.069582 -1.95% -10.36% $6 803 114 078 TRX 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 64% 78 $0.000012 -1.75% -15.57% $6 768 218 149 SHIB 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2022 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.