After years of grappling with the complexities and regulatory vagueness of initial coin offerings, the crypto community has finally spawned a new, more streamlined method of funding startup projects. The concept of an initial exchange offering or IEO is quickly gaining steam just as the cryptocurrency market recovers and adoption resumes its upward trajectory.
Although the first few notable IEO crypto projects were launched in 2017 and 2018, Binance’s Launchpad platform popularized the concept this year. Now, IEO marketing and IEO PR crypto have been completely redefined with the exchange at the center.
For startups and developers entering this space for the first time and considering a direct launch on a popular exchange, here are some of the most effective IEO PR strategies:
Focus on tokenomics in the white paper
Exchanges are the gatekeepers here, so justifying your project and proving viability is a critical step in the verification process. Every exchange has a different set of criteria for evaluation for inclusion on their IEO list, and it can be difficult to know for sure whether your project will make it through to the platform of your choice.
This is why it’s best to focus on the product and the framework of the project to build value signals before you reach out to exchanges. Focus on the tokenomics (the reason users and investors should use the tokens you issue) and create a minimum viable product (MVP) well before you apply to Binance or KuCoin.
Start building a community early
The exchange will have a lot of influence on the IEO crypto calendar and IEO crypto schedule, so it’s important to start creating the community as early as possible. Reaching out to potential users, developers, and investors on social media even as you write the first draft of the white paper is a crucial step. The next step is to sustain the community till the date of offering.
Sustain the community with a personal touch
The crypto community has come to expect direct and transparent access to the founding team of any new project. Even the most well-known and influential business leaders in the space take the time to answer questions, face criticism, and promote the project on public platforms like Twitter or Reddit.
Making devs and project leaders directly accessible for that personal touch is a great way to sustain the community you’ve created for the project.
Highlight reputation and experience to bolster trust
IEO PR is a lot easier because exchanges have eliminated most of the friction for investors and issuers. The meticulous vetting process and brand recognition of popular crypto exchanges bolsters the chances of success. Nevertheless, there’s still a need to highlight the team’s competence and experience before and during the launch.
Past projects, work experience in the industry, professional credentials, and GitHub contribution histories can go a long way towards winning over potential investors and users, as well as improving your rating on an IEO list.
By simplifying and streamlining the fund-raising process exchanges have changed the token issue game. The platform and exposure they provide drastically increase the chances of success for any new crypto team. However, going the extra mile with thorough PR and marketing strategies like the ones outlined here can boost these chances even further.