The ICO market is as hot as ever. While 2017 saw around $3.88 billion being raised in token sales, almost $1.2 billion have already been raised in the first two months of 2018. This is great news if you’re planning an ICO, but it also means that you’ll be competing against hundreds of other startups vying for investor attention.
With so many ICOs to choose from, investors are considering several factors before choosing the token sale to particulate in. They’re checking ICO listing and ranking sites, bitcoin forums, social media pages and media reports. While it’s important to have a presence in all these platforms, remember that your main pitch to potential investors is your whitepaper. It would be unrealistic to hope for a successful ICO without a compelling whitepaper. So, here are a few things to consider when drawing up this document.
Structuring Your Whitepaper
There are very specific questions that investors are seeking answers to when reading your whitepaper. A good whitepaper must tell your story, while addressing all critical questions.
- Explain the problem
- Introduce your solution briefly or mention the overall vision
- Provide details of your proposed solution – How it will work, features, benefits
- Give details of the project – Mention what you already have ready and provide a roadmap for developing the rest
- Mention the purpose of your token
- Provide details of the token commercialization
- Give details of all team members
- Mention the critical dates for your token sale
Aspects to Keep in Mind When Creating Your Whitepaper
The quality of the whitepaper speaks volumes about the professionalism of your team and the seriousness or commitment towards the project. Here are a few things to keep in mind:
Accuracy: Whenever mentioning any statistics or facts about the market, including its overall state, competitors, target audience and projects, ensure what you’re stating is accurate. Many investors are highly knowledgeable and will not hesitate to highlight your inaccuracies on social platforms. These will trigger doubts over the authenticity of your whitepaper.
Writing: The whitepaper needs to be well written. Try and maintain the right balance between being professional and communicational. Avoid using jargon. While building credibility or positioning yourself as a leader is important, remember that the main objective of the whitepaper is to explain your project clearly to potential investors.
Technical Details: If you’ve started working on the code, let investors have a look at it. If a part or prototype of your project is ready, provide extensive details of this.
Design: Ensure the design compliments the text. Make the cover page attractive, but leave most of the whitepaper ‘white’. This makes the text more legible. The design should highlight important parts of your whitepaper.
Graphics: You could use graphics to explain how the project works and how tokens are used. Charts can be used to highlight certain statistics or trends. A visual representation of your proposed roadmap and token sale details would do well.
Read the whitepaper multiple times. Consider everything from the investor’s perspective. Let others read it and make suggestions.
Need a compelling whitepaper for your ICO? Speak to us now. Contact firstname.lastname@example.org or chat with us on Skype: tokentarget