What is An ICO Advisor & What Role they play in ICO?

Blockchain technology is all the hype these days. It all started with Bitcoin and Ethereum and now everyone seems like a blockchain expert giving advices on ICO. The sector is teemed with amateurs who probably bought a few cryptocurrencies and might have read a few books and articles on Blockchain and almost overnight have turned into crypto advisors and blockchain experts.

Blockchain development companies starting with their projects and looking for expert opinion need to be wary of who are they are consulting for advice in the current situation. Every time you come across a profile on LinkedIn or a resume where a person has stated themselves as a blockchain expert or an ICO advisor, warning bells should go off. This isn’t to say there aren’t any blockchain professionals or good ICO advisors in the market, the thing is blockchain technology is relatively new and everything is changing fast. And to say in such a situation one is an ‘expert’ at it would be a stretch.

A lot of blockchain development companies beginning with a project are usually unaware of the processes and requirements that accompany an ICO and therefore look for advisors in the industry. But how do they recognize which advisor is worth giving a shot and which ones they should avoid at all costs?

Unfortunately, the hype in this industry has led to a number of self-proclaimed blockchain experts most of whom have little knowledge and even less experience in helping projects launch a successful ICO. Therefore you must know this: there are usually two types of ICO advisors in Dubai you will come across in this industry.

The first type is the most common. They can be found on a number of blockchain platforms and virtually do nothing except for having a profile with their photo on a project’s website that states them to be an ICO advisor and a blockchain expert. You need to avoid these fellows. Most of the time, the reputation and experience of these advisors do not stand up to the claims and they do not deliver any value to a project. The second type of advisors is the ones that are harder to find and bring on-board but these are the ones that bring real value to your project and can pay off big in the long run.

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Comment by Balamuralie on October 24, 2018 at 3:13am

There is plenty of media coverage around Initial Coin Offerings (ICOs) at present. One of the key attributes of focus is the “Advisors” indicated in the Whitepaper.

Most ICOs are evaluated based on multiple attributes, including:

· ICO process logistics

· Core business challenge to be addressed

· The technical blockchain platform

· Supporting collaterals such as the Whitepaper and website

· Screening and on-boarding of token investors

· Engaging with the crypto and blockchain investor communities of practice

· Overall marketing plan for the ICO

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