Last year, it seemed that everyone was either running ICOs or taking part in them, with the total amount of funds raised throughout the year nearing a $5 bln mark.
If you’re reading this, chances are you’re considering getting in on the action. While there are projects such as Useless Ethereum Token, which was very likely created by a single person in no time at all and still somehow managed to raise almost $200,000 in contributions, your future project will need quite a significant amount of time as well as a dedicated team to attract substantial funds.
Just a little disclaimer before we proceed: hosting a successful ICO from scratch is going to be rather expensive. It takes approximately $60,000 to launch such a campaign, but this number can vary depending on the project and its goals.
Also, launching an ICO campaign is quite time-consuming. In most cases, pre-public engagement phase, which includes all the processes prior to the first big announcement, takes roughly six months to one year.
The post-public engagement phase, which includes everything that happens between the first announcement and the actual sale of tokens, normally takes around three months. This timeframe is often considered long enough to gain the public’s attention and short enough for the public not to forget about the project.