Organizing a token sale is a complex and tedious procedure that involves a lot of input from professionals in different works of life. During an ICO, project owners need to build a team of developers, advisors, legal and regulatory experts, marketing teams and KYC/AML checks. They also need to devise ways to find investors who will be willing to support the project by themselves.
To achieve the aforementioned details, a significant amount of funds and effort is involved most of the time, yet there are usually no guarantees as a lot of ICO have failed to achieve their targets.
The importance of specialization
Like any organized society, creating organized units in the form of cells that comprise of experts and professionals to handle specific kinds of projects will always enhance efficiency and improve the productivity within a given community. In other words, assigning tasks to specialized units or personnel will always supercede spontaneously assigning responsibilities at random and hoping for the best outcome possible.
With blockchain platforms like Starbase who specialize in helping startups turn their ideas into established businesses by setting up and executing standard token sales, it is expected that the already exploding Initial Coin Offering (ICO) market will feel even greater buzz with new entrants flooding the industry.
Exiting the old era
Until recently, setting up a new project or expanding an existing one was usually very difficult because of the complexities of accessing the much needed funds.
Going through Venture Capitalists (VC) for the financing of projects became very difficult because of various factors surrounding the system that wouldn’t let it flow at the same rate to keep pace with the fast moving innovation ecosystem, especially across the internet. VCs became too complicated for current systems, too slow, reducing funding startups and difficult to complete their seeding process.
As blockchain emerged, and developed to the stage of enabling global decentralized funding through the concept of Initial Coin Offering (ICO), its impact on the online projects marketplace is seen to be pushing the traditional VC systems to the back seat.
According to Goldman Sachs, The amount raised for initial coin offerings of cryptocurrencies has surpassed earliest-stage venture capital so far in 2017—a ranking change that institutional investors would be smart to acknowledge. Some of the reasons for this significant demand for ICOs as a convenient tool for raising funds include the fact that they are not regulated, neither are they restricted by region, jurisdiction or class. Therefore, the concept is being embraced by all and sundry, especially young startups that are trying to make their way into the industry.
All you need is a bright idea
As mentioned earlier, there are new entrants who may not have the expertise to put together a robust project despite incubating some brilliant ideas. That is where platforms like Starbase show up to take up the responsibility of creating every and delivering every aspect of the fund raising, through a token sale at minimal charges.
With Starbase everything is decentralized and project owners do not need to convince anyone by themselves to invest, there is no need to spend $100k on legal fees, and also need to spend lots of money in marketing as the project takes advantage of the visibility on the Starbase platform.
Apparently, we haven’t seen it all yet with regards to innovations and ICOs as it is expected that platforms like Starbase will motivate the intrusion of a multitude of startups into the ecosystem. All you need is a nice idea and a little fee and you are good to go.
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