The financial industry is witnessing something bigger and better when it comes to raising funds for startups and companies: Initial Coin Offerings. Billions have been raised by companies since ICOs made a headway into the cryptocurrency crowdfunding ecosystem, and has become the go-to form of funding for many startups. But why is it that some companies can raise huge sums of money overnight through ICOs? And what are some of the most successful ICOs now and yet to come – and how did they get there? Let’s dig deeper.
One of the most successful ICOs is the Bancor token sale. This token sale raised over $153 million in ether, surpassing that of the DAO, which raised a little over $152 million but notoriously failed afterward. The crowdsale saw the production of more than 79,000,000 tokens on the Bancor Network. Top holders of this token stood at 83.96 percent, which was equivalent to 66,601,702 BNT. Over 39,000,000 BNTs, representing 50 percent of the total token sale went to the public whiles the other 50 percent was reserved for the future.
All in all, Bancor brought together over 10,000 buyers. Purchases made during the token sale were over 15,000 in transactions, with a single buyer even going for about $27 million in token sales. Though there were some issues with the ICO initially, it emerged as one of the best and most funded ICOs.
Starting its ICO in August 2017, the blockchain-based storage platform Filecoin raised more than $250 million in token sales. Data storage and protection will be based on the IPFS, with a model that gives participants the opportunity to make money when they give out their hard disk space to other people in the network.
Raising over $232 million in token sales is not easy to come by. But that’s what the Tezos Initial Coin Offering was able to pull along in July 2017. A total of 361,122 Ethers and 65,627 Bitcoins were raised. Tezos model and roadmap is simple: it uses smart contracts to ensure future-proof, secure consensus mechanisms. One good thing about this is that it is not affected by hard forks, preventing any future splits.
The secret and roadmap behind the success of these ICOs – and almost every ICO
To raise huge sums of money through token sales is a difficult task. Those like Bancor, Tezos, and Filecoin had something in common, something that leads to their success. Let’s dig in.
- A strong team: whether it’s Bancor, Filecoin, or even the Ethereum ICO, the success of all of these were inherent in the team behind them. A transparent, inspirational, and well-tasked team saw the success of these ICOs and possibly will be one of the main parameters that will determine the success or failure of future ICOs. An example of future ICOs using the best of teams to nail it is Revain.
- Having a convincingly nice idea: for an ICO to achieve success just like the ones mentioned above, the idea has to be a killer – one that convinces, that solves a problem, and works, like that of Revain’s.
- A good marketing budget: in order to be the next Filecoin or Bancor, an ICO needs a good marketing budget so as to reach the right investors.
The Revain blueprint
Successful ICOs need more than just the creation of coins – which is something Revain has been able to understand. Revain’s team, the marketing budget, and the idea are just what a successful ICO needs. This ICO is poised to make it alongside the ranks of FileCoin, Ethereum DAO and Bancor.
More information about the platform and the ICO is available at – https://revain.org/