ICO have attained high popularity in the last few years. In 2019 itself, the ICO raised more than $3.3 billion. Many enterprises and investors, like Microsoft, use ICOs as a prominent tool to raise funds. This tempts many entrepreneurs to think about the cost to launch an ICO and wonder about the cost of launching an ICO.
Are you also in search of the cost? If yes, then this blog will brief you about the cost to launch an ICO. So let us begin to reveal everything, one by one.
How much does it cost to launch an ICO?
The money generated from the ICO business is on a constant rise. To give you a rough estimation, the total cost to launch an ICO platform may start at $15,000. The price may increase or decrease based on your requirements. Talk to Our Experts
We intend to discuss the cost breakdown in detail so that you can determine the costs and make efficient budgetary ICO launch decisions. So without delaying, we get straight to the ICO cost breakdown.
Cost Breakdown: Factors Impacting The Cost To Launch An ICO
Wondering – How much does it cost to launch an ICO? Let’s walk through the major factors that impact the cost to determine the budget for the ICO token development process.
Whitepaper creation
the creation of an ICOCreating a whitepaper is a significant part of establishing an ICO. A white paper is a document that briefs about the objectives of the project to potential investors. It sketches out its unique features, the way Talk to Our Expertsit is going to resolve the issues, and how it will be implemented using blockchain technology.
The cost of creating a white may vary based on its length and complexity, ranging from $2000 to &15000. The whitepaper must be precise, clear, and informative in a way to grab more investors and gain their trust in the project.
Technical development
Making an ICO requires lots of technical work. This is the key reason for the expense of ICO development. You need crypto programmers to develop your token compatible with all blockchain networks.
For this, you have to pay $10,000 to $18,000. Building a website for your own ICO also adds up the price, which may fall between $8000 and $15000. Next, tech safety checks are key to checking the safety of your ICO to protect it from hackers.
Likewise, for the proper functioning of your platform, you must have perfectly working smart contracts. You must require $6000 to $10,000 for the development of smart contracts.
In some cases, the tech development cost may rise again by over $50,000! Good tech stacks won’t come cheaper; they are also worthy of spending money.
Security Audits
ICO security measures are essential to safeguarding the funds and sensitive information of investors. Implementing robust security protocols helps prevent hacking attempts and also helps ensure the integrity of the ICO project.
Security measures might incorporate thorough security audits using various encryption techniques like multi-factor authentication, 2-factor authentication, data encryption, DoS, DDoS, and more. The costs of all these security measures may differ based on the project’s complexity and the level of protection required.
So, on average, the security audit cost for ICO development may range between $10, 000 to $25, 000.
As an entrepreneur, you have to highly prioritize security to build trust among global investors & users to safeguard their funds.
Legal fees
Legal fees are the most significant factor to consider while launching an ICO. This incorporates the costs associated with regulatory compliance, thus confirming that the ICO project is completely legal and in need oflized. This kind of legal fee might vary based on factors like the complexity of the project, legal counsel’s experience, and licenses in that jurisdiction.
Typically, the legal cost to launch an ICO may range from $2000 to $10,000. It is necessary for an ICO project to budget for these expenses to confirm that your project has met all the essential legal obligations and thus safeguards itself from potential legal issues in the future.
Marketing expenses
Considering that marketing expenses are the most significant part of launching an ICO platform. They typically cover 10% to 20% of the funding target. These expenses incorporate varioTalk to Our Expertsus activities, such as creating a website for an ICO, which might range from $10,000 to $20,000.
There is also a need to allocate a budget for email marketing, content marketing, Social media marketing, Digital marketing, SEO marketing, and more. It is necessary to have a well-planned marketing strategy to improve the visibility of your product among global investors & users.
Summing Up!!!
The increasing popularity of ICOs results in an increasing demand for ICO development. As a result, businesses are often involved in the search for the cost of launching an ICO. Giving priority to business search, here I have listed out all the major 6 factors that influence the ICO development cost.
I hope you are satisfied with this blog and found it helpful to determine the cost of launching an ICO. Still, if you feel you require support from an ICO development company, then undoubtedly you can get in toucthe creation of an ICOh with Zodeak. They would help you through your development process for a successful launch.
