I’m continuing my series on ICO Bounty Programs… Why? Because I’m getting asked LOTS of questions, and aggregating this data into a series of blog posts is the easiest way to direct conversation. As always, please consider this post as a live document and open to edits, additions and any other updates that help the reader. As such, I look forward to your messages and interactions!
Here are the posts in the series so far:
- An ICO Primer: What Are Bounty Programs And How Do They Work, Types of Bounties For ICOs, And Who Are Those “Bounty Hunters”?
- 3.5 Steps To Making Your Official ICO Announcement On Bitcointalk
- 4.5 Steps To Announcing Your ICO Bounty Program On Bitcointalk
- ICO Bounty Programs: The Bitcointalk Signature Campaign
- Running ICO Bounty Programs: A Sample Listing For Bitcointalk
- ICO Resources: Spreadsheets To Demystify The Back-End Of ICO Bounty Programs
Your community should be more than Bounty Hunters.
At a time when the plethora of Bounty Hunter and ICO spam has hit a digital sharting point, I suggest ICOs focus more on building a strong community rather than the pump-and-dump often associated with Bounty Hunter programs. Don’t get me wrong: I love hunting for tokens as much as the next Bounty Hunter. But there’s a balance between value-added participation and overt advertising spam. If your ICO isn’t a corporate shill or ponzi scheme, then you certainly don’t want it to look like one.
ICO Relationships 101:
- Successful ICOs tend to have extremely strong and active communities supporting their projects.
- Being open with your community proves to them that your project is far more than transactional in nature.
- Build relationships with your supporters.
- It’s important for your team to participate in these conversations and generate a presence.
- Most token sales are driven by initial hype, and bolstered by real community.
- If you don’t create a strong community early on, your crypto asset will quickly fall as early investors and bounty hunters dump their tokens.
- Create a friendly community that supports you, not your token.
- By engendering trust in a core group of fans you can ensure you token remains valuable and useful.
Add SERVICE To Your Bounty Program:
- If you do decide to run a Bounty Program for your ICO, GREAT! But rather than focusing on coin collectors, focus on those that actually want to be involved in your crypto community. Limit participation in your campaigns, and focus on great service via communication.
- For example, and this is a simple step easily forgotten in the blitz of ICO crypto time: Update your bounty program announcement on Bitcointalk!
- How many tokens have been earned during the bounty campaign? What % is this of the total token distribution? Feel free to add your own metrics.
- The point is that the data gives your investors and hunters something to bite on. It’s communication, and noteworthy.
A Sample Bounty Program Announcement Update –
- Total amount of BRAIN tokens created during brianICO: 77,663,987 BRAIN
- Total bounty campaign pool size = 5% of all BRAIN tokens = 3,883,199.35 BRAIN
- Signature campaign: 1,941,599.675 BRAIN
- Articles campaign: 582,479.9025 BRAIN
- Twitter campaign: 465,983.922 BRAIN
- Videos campaign: 465,983.922 BRAIN
- Translations campaign: 388,319.935 BRAIN
- Newsletter campaign: 38,831.9935 BRAIN
Hope this helps and thanks for reading!
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