How much does ICO Project Cost ?
A bird eye view on the ICO Project Cost
Generally the Initial coin offering events have several stages, from the planning to the execution; funds are needed to manage the process smoothly. Everyone curious about how much does ICO Project Cost? Some ICO creators select to launch a direct token sales event than go through the rigorous time consuming process of pre, main and post- ICO token sales.
So at the several stages, one could easily assess the viability of the project before the platform is finally launched. As there are several aspects that contribute to a successful ICO event, the following observations should help users on the budget scope of most popular ICOs.
Cost of Hiring a Team:
It has become must for to attract several technical experts who are proficient in major aspects of the blockchain technology. Generally this part of the budget almost consumes 60 – 65% of the total budget and compensatory tools would always influence the startup in the forward prosperous direction.
From frontend to backend programmers to economic analysts; the whole team work in synergy to cherish out the glow in the project. One could also search for freelancers who might charge hourly rates and working for an already established brand could payoff in real time.
Cost of Publicity and Advertisement:
One must involve proposing the startup idea to several media outlets at their disposal. You can go for youtube, facebook, twitter, blogspots, cryptocurrency forums, news (press release) websites, etc. There are also more online media outlets released daily to facilitate the distribution of ICOs publicity content. Some of them may be free; others charge premium services to enhance the efficiency of content distribution. So publicity of your ICO could sometimes take up more than 30% of the allocated budget for expenditure during the ICO development stage.
Vital travel Costs and Logistics:
It is noted that the project developers travel to several states, countries and as far as continents to actively seeking global potential sponsors and partners. These costs are driven by the budgetary terms and allocation.
Finally the running cost for an ICO event would vary from project to project. The main objective of the startup would also professionally determine the nature of the work force and the determining team. It is effectively wise to have at least a quarter (1/4) of total expenditures to be made before diving into any crowd funding activity.