The crypto industry has never been more exciting, promising, and innovative. In 2020, we witnessed some of the biggest price surges of famous cryptocurrencies, new names joining the game, and many institutional players backing crypto.
It’s no wonder that new cryptos coming to the market now have a chance to make it bigger than ever. However, in order to make sure that a new coin is a bop, not a flop, the ICO has to go flawlessly. One of the best and easiest ways to do that is to make sure that your ICO white paper is exciting and attractive but also credible and solid.
What Is ICO White Paper?
Let’s start from the basics: do you even need an ICO white paper? The answer is a resounding yes. An ICO white paper serves as a primary guideline document that lets investors get to know the workings of your coin.
It serves several purposes, so it’s important to cover each one well:
1) The marketing side: first and foremost, you should look at your ICO white paper as a marketing tool. It’s a direct channel of communication between you and a potential investor. Not only that but anyone who takes the time and makes an effort to get your ICO white paper is already interested in what you have to say.
2) The business side: if you want investors that will be true partners and advocates of your crypto, they have to understand how it will behave financially and regulatorily. Every ICO also comes with its risks, and you shouldn’t refrain from sharing them, like in any other business plan.
3) The technical side: Many of your future investors will decide on the feasibility of your business plan based on how technically sound it will be. You should never underestimate the power of great technology and innovation.
A Step-by-Step Guide to Writing a Great ICO White Paper
Now that we have covered the basic definition of an ICO white paper and some of its main benefits let’s take a look at concrete steps to start when you’re starting from a blank piece of paper. The task may seem daunting at first, but if you follow these steps, you’ll finish a superb and professional end product!
Melissa Goodman, a content manager and writer at getgoodgrade says, “An ICO white paper is a peculiar document, but we have our internal writing procedure for when a company orders one from our agency. It’s important to know the exact functions and parts of an ICO white paper and to stay consistent throughout the doc”.
1) Start with a clear and straightforward intro
Just like with any other type of text, an intro hooks us or makes us walk away from a text. The same thing goes for ICO white papers. The introduction and outline can easily be interpreted as the most important part of your ICO white paper. However, the introduction not only has to be concise and to the point but also attractive and captivating. If you’re not sure how to achieve that, you can ask for help from professional copywriters or companies that offer help with theses and dissertations. Either way, a good intro is a perfect way to make a great and lasting impression.
2) Present the “Problem”
The point of any ICO, just like any project or business at its basic level, is to solve a problem experienced by individuals, corporations, organizations, or other structures. When you think about it, every single company that ever existed had solved a problem or catered to a desire. Let this be your guideline when you’re thinking about the problem-solving paradigm of your crypto.
3) Present the “Solution”
Now that you’ve explained the problem, it’s time to take it a step further and explain how your crypto will tackle it. Here, you can play around with language and phrasing that describes the power and potential of your coin.
4) Describe the ins and outs
When you’re presenting to potential investors, you have to assume there will be many who will want to know exactly how your crypto will work. Feel free to go into more details than you did so far: potential investors who have come this far in your white paper document most likely want to know everything in detail. Worst case, the ones who don’t care about the inner workings will simply skip this chapter. What Is ICO White Paper
5) Explain how you will use the funds
Every investor wants to know what their funds will do once they release it. Actually, they want to know how their investment is going to produce returns and how much. To predict that, an explanation of the way investments will be used is an important factor.
6) Present the team
Another thing that’s important in an ICO is to present the human dimension of it all. After all, the team is what makes the success of a particular crypto. Take about how your company is structured and how decisions are made. Let your potential investors know that their funds are in good hands.
7) Outline the future trajectory
As a good conclusion point, you can describe projections and expectations for your crypto’s performance in the future. Describe factors and systems that will impact its price and market position. Explain how you plan on growing sustainably and consistently.
It will always be worth your time, energy, and money to invest in a bulletproof ICO white paper. This is the document that will be used by potential investors to either get excited or walk away. When you take into consideration that white paper audiences already possess an interest in what you have to say, it would be a real shame for a potential investor to walk away. What Is ICO White Paper
If you follow the steps we have outlined above, we guarantee that you will have a satisfactory ICO white paper that will make people want to join your story.