The ICO, as an alternative form of crowdfunding, emerged outside of the traditional financial system. The model has already established itself as one of the easiest and most efficient methods for startups to fund their projects while opening up the possibility for users to invest in projects they see value in. The latter receive a tradable asset, the value of which depends on the success of the project and which has the potential to increase over time.
It’s the perfect model for young, emerging startups that have managed to create a strong community of like-minded people and potential users, but for some reason experience difficulties attracting venture investment.
Cointelegraph recently caught up with Alexander Ivanov, founder and CEO of Waves Platform, to look into how the ICO market has matured as well as to make predictions on the direction of market development. Ivanov emphasized the growth in sheer numbers, as more and more projects are being launched year after year with the potential to bring in more money as time goes by. As the industry is maturing, competition in the ICO market is growing with requirements for teams getting tougher.
The question here is how does one launch an ICO in the most efficient way, bringing value to both users and the startup. Where should one turn to for advice on that?
Waves Platform allows anyone to set up their own digital token and use it in an ICO. The platform works exclusively with AML/KYC-compliant fiat gateway organizations - besides it has established its own decentralized analog of those regulations. It is now collaborating with ICO Hub to launch a pre-ICO challenge.
ICO Hub is engaged in investment analysis and due diligence, helping startups to sketch and implement their ICO campaigns through structuring, preparation of documentation required to raise funds, development of a marketing plan and the provision of technical support for the ICO.
ICO Hub incubator is now inviting participants to submit a prototype or a finished idea for the competition. The community will select up to three winners who will be able to use the Waves Platform’s marketing, legal and technical resources for their campaign and gain advice and mentorship on their project to ensure a successful launch with a pre-ICO target of around $100,000.
In the case of a successful pre-ICO, ICO Hub may extend cooperation with startups for the subsequent ICO campaign.
The contest will be held until June 12, with voting taking place until June 17.