99% of people looking to launch an ICO haven’t done so before. Many others have so why not tap into that knowledge and experience?
As we keep finding out at ICOrad.io, lots of teams end up inventing and re-inventing some of the same wheels in this all-new world of crypto-economics, where so few people can justifiably call themselves ‘experts’.
Today’s guest is looking to change some of that!
Mark Kirby has a background in both supply chain logistics and high-net-worth investment, especially non-traditional and alternative assets. He is also the founder of Token Lounge, a platform saving ICOs a lot of the time and cost involved when setting up their projects, by giving them access to the experience of others who have been there before them – and a few whizzy widgets along the way.
While they don’t offer investment advice, the experienced Token Lounge advisor panel works with ICOs to become the most investment-ready they can be, offering support and guidance on whitepapers, smart contracts, tokenomics structure and business roadmaps. Only once there’s a sound business plan outlining what is a viable project - just like any traditional investment asset - will the platform advertise the ICO to the wider community.
And to help that, the available software makes the process much easier.
A plug-in widget sits on the ICO’s own website and accepts investment in any fiat money and over 50 different cryptocurrencies – meaning investors aren’t stuck with just Bitcoin and Ethereum. The system leads people through registration, in-depth but user-friendly KYC and AML, and smart contracts can be written into the website. And instead of taking months to process tokens, the ICO helps avoid streams of email enquiries about how many tokens will be issued and when, because tokens can be automatically issued to the user – cutting out concerns about when funds are incoming and how much.
Leaving founders free to do what they do best – promoting their project!
By working with founders throughout the process, from the outset, through private sale, pre-sale, during an ICO and especially continuing to build a business after a raise – when the magic really happens - Token Lounge is looking to build a respectable crypto-investor and ICO community, brought together in an efficient, safe place.
· Token Lounge worked with NAGA Coin which launched with one of the highest number of participants ever, at more than 65,000 crypto-investors
· A good team is vital, so that has to be found – alternatively, a lot of those skills and that experience can be accessed through Token Lounge’s own bank of advisors, developers and investment experts.
· Teams need impressive business plans, whitepapers and case studies.
· Pre-sale and private sale are important, and are where investors are missing out as they’re not always advertised.
· Once complete, KYC and AML are automatically transferable to other projects (depending on each ICO).
· The crypto community is very committed and passionate, and needs places to meet.
· Everything being called a security is not an issue, simply the KYC and AML need more attention.
· It is impossible for everyone to be an expert in this ecosystem, it’s all too new, but you can surround yourself with support and talented people.
· By the time something is advertised on Token Lounge, from an investor perspective there’s a viable business with a roper roadmap, and investors can see this and get involved at an early stage.
· The admin, marketing and PR cost to launch an ICO is probably 4-5% of the total raise.
· If something is trade-able on an exchange, does that make it a security? Probably.
· More and more people from a traditional investment background are getting involved in ICOs, for the right reasons, and everyone from the community should embrace that.