blog posts

Comparing the initial coins or ICO can be profitable for cryptocurrency investors and ICO teams. Different people have different reasons for knowing how an initial token offering compares to the rest of the market.

This is profitable for investors if a particular product has the potential to deliver the expected ROI in the long run and which is the best option when looking at similar projects.

For ICO teams, looking at the sale of other particularly well-rated tokens can help identify which part of their project needs more work or which part needs to progress to achieve similar success.

Then, there is a general desire for people to see what the rest of the market thinks about a particular ICO and how many of the solutions provided have the potential to revolutionize an initial token offering.

The problem is that many ICOs start up every day, which equates to thousands of ICOs each year. Some projects will be similar, and there is a limit to the number of not-so-good products.

With the storm that creates a lot of tokens in the market, it is very difficult and tedious to separate good tokens from bad tokens without an in-depth and time-consuming analysis of unique ICOs and their target market.

How can I do this?

The initial token success indicator is the most effective way to build a rating system based on critical numbers.

This includes the behind-the-scenes project team, the initial self-supply information of the token, how the product is presented, and the goodness of the marketing.

Team: It is important that team members’ profiles are easily accessible, and the right amount of information should be considered for each person. Showing photos and links to external professional sites like LinkedIn helps build trust and credibility.

In addition, the number of team members can affect the ranking. If only two people are working on a project, you know that the chances of success are slim. However, when several people are working on different aspects of the ICO, the chances of success will be much higher.

Information ICO: Compared to ICOs, ICO information must be visible and accessible. The start and end dates at the time of pre-sale and the official ICO, how to buy it in the hustle and bustle of the market and the digital currencies they accept, the countdown to the start and end of the sale, and the price of each token, can make investors’ guesses certain. They give more confidence.

How the product is presented: This will largely depend on the information available in the report. The presentation should include: what the product is (for example, platform, service, etc.), the vision the company hopes to achieve, and more detailed information about team members and key uses when they plan to achieve it—digital token.

Having a professional introduction video with a brief overview of the product shows more quality and commitment from the ICO team.

I also heard about MVP. What is it?

An MVP, or short-lived product, is a product that has at least enough features to meet customer needs.

Altogether, the alpha or beta prototype is the product of the future. This product is used to receive feedback and make changes to the project. This product is not yet a common item in the digital currency industry, but it can increase investor confidence in the product if it is available.

An open-source code lets you see if the company has a foundation. You can examine the implementation of the concept described in the report and the progress of work on the project: concepts such as optimization, troubleshooting, functional extensions, etc.

Do I have to pay attention to social media?

You should pay attention.

When comparing ICOs, given a large number of ICOs on the market, individual projects need to be able to attract enough attention to their product. The best way to judge this is through the company’s marketing efforts.

Are they active on various social networking sites such as Facebook, Twitter, and Medium? Are they present in cryptocurrency domains such as BitcoinTalk and GitHub? And what kind of information do they put there? The answers to these questions are very important when comparing ICOs.

Do I have to pay attention to the opinions of experts?

One of the most important factors to consider when ranking and comparing ICOs is experts’ opinions in the world of cryptocurrency.

They may look broadly at the same criteria, but the perspective will be different.

Team: Teams with cryptocurrency experience are generally ranked stronger than the industry’s complete innovators.

This includes growth, coding, project management, community management, and marketing.

The presence of an advisory council promotes the integration of a particular project.

Product Information: ICOs generally have two different purposes. One is to fund a whole new concept; Another is to finance the development of an existing project or its transfer to a network based on another Chinese blockchain. The latter contributes more to success because it is based on a product or service that has already been proven. As a result, experts will support these projects.

A product or service that points to a real problem in the market can also help raise rankings.

Business knowledge: Projects that have clear long-term goals, a written plan for achieving those goals, and the amount of capital needed to achieve those goals are very likely to succeed. Experts also look at whether there is a user base in the project and whether competitive analysis has been done to understand the playground better.

Market strength: The ICO industry is largely uncontrolled. This can change anytime, and different laws can be enforced in different sectors. A project with the flexibility to be flexible and overcome market changes should rank much higher.

Is it possible to automate project evaluation?

Yes, there is, and it will speed up the process.

Cooperation between humans and artificial intelligence can facilitate evaluation.

Artificial intelligence has developed significantly, and its capacities have increased significantly. Nevertheless, it still has to have the foundations to work properly. People’s opinions on various projects may be used as a basis. The program analyzes the participants’ behavior according to the set parameters, and they can make their own decision about the project. In addition, the network and the people work together. Subsequent evaluations maintain the application database users and increase its efficiency. The network rates projects and helps uninformed people make decisions.

This intermittent trend has already been realized by a project called DropDeck. Investors rate projects for artificial intelligence.