How long is a piece of string? – ICOs have become outrageously popular as a means of funding in recent times. More and more are opening up on a daily basis. Most project teams see an ICO as the perfect way to fund their new venture. The cost of launching an ICO depends on some key factors, but everything is within your powers of control.
First things first, presuming you have a fantastic concept, or something pre-existing and you wish to set the wheels in motion for an ICO. At this point, you will need to begin establishing a team around you. These include a site designer to design and launch your landing page, a programmer with expert knowledge of the blockchain to code the actual token and parameters of the sale, a legal advisor who can keep you aware of the changing landscapes and ensure you stay compliant, and finally a technical writer who can put together a killer whitepaper.
Ideally, doing some of these things yourself (skillfully) will be a great money saver.
The dominant consideration once your token is “ready for launch” is marketing. Marketing an ICO is one of the most competitive areas a project could enter at his moment. You need to get your ICO listed on some of the major rating agencies, they are very costly depending on the level of promotion. Then there is general advertising which is becoming more and more difficult.
Then you have your organic articles and social community management on forums like Bitcointalk, Telegram groups and other media channels.
This is why we are seeing a huge rise in the cost of marketing a project. In fact, it is not uncommon to see up to 15% of an ICO budget allocated to marketing in some form or another.
So your ICO has successfully launched. It is starting to generate investment. You need to have your team include a blockchain security expert even before this point to ensure your safety measures are watertight. Launching an ICO makes you a red rag to a hacker.
Don’t forget that post launch, you need to keep promoting hard and selling through any means possible. Again this means keeping the marketing team very busy.
Once your ICO has closed, you are not done yet. The process will then need to be extensively auditing and reported.
Ultimately, an ICO launch can cost anywhere from $50,000-$150,000, a lot of which is dependent upon how much you market the project. This ballpark figure is one which continues to rise.