The concept of initial coin offerings has been put through the wringer several times over. More specifically, the SEC is cracking down on any company or project potentially violating securities laws. It is evident there is still a great future ahead for this business model, but only when teams take the necessary precautions. One particular user on Fiverr claims they will take care of all these issues on your behalf for a rather modest fee.
Utilizing Fiverr for ICO Needs
It is evident anyone in the world can easily host an initial coin offering without too many problems. All one needs is access to the Ethereum blockchain, a smart contract to handle the issuance of tokens, and potentially a fancy whitepaper to explain the details of your project. All of this can be achieved with enough time and money, and it is of the utmost importance to ensure that your behind is covered when it comes to the legal aspect of your ICO. Especially if your investors are based in the US, complying with existing regulations needs to be a top priority.
Unfortunately, it remains highly doubtful every single future ICO project will follow that course of action. There are plenty of shortcuts to be taken, and it’s often better to ask for forgiveness rather than permission to do something. In the case of some recent ICOs, they found out the hard way that they should have done their homework a bit better. Excluding US and Chinese investors seems to be the standard course of action right now, although it’s always difficult to properly guard against such mishaps.
For those users who just want to build an ICO and farm out everything else, there’s always the option of looking on Fiverr. A user by the name of Springexpert claims they can advise people on their particular blockchain project and build it accordingly. Moreover, they – and potentially their team – can build wallets, white papers, and proof of concept applications if needed. It is a more than appealing way to go, although the end results may vary.
In any case, creating an ICO in this manner will set you back around US$1,000. That is a very small price to pay if you’re hoping to raise millions of dollars. Springexpert will ensure it is delivered within 9 days for an additional fee of US$500, verify the Etherscan.io contract for an extra US$200, and build the crowdsale contract for US$500. All things considered, it is a very cheap package which checks all of the right boxes other than the legal side of things. It’s a more than compelling offer, assuming people are comfortable trusting a random stranger on the Internet not to run off with their funds after the ICO is completed.
All of this further confirms that anyone in the world can run their own ICO without any shred of coding knowledge. If you are willing to throw some money at it, your project will be taken care of within a few weeks. Surprisingly, this particular Fiverr user has gotten a lot of positive feedback. That in itself is somewhat worrisome, as it may indicate most people have no idea how an ICO should be conducted in the first place.
Whether or not offerings like these will bring more legitimacy to the concept of initial coin offerings is highly unlikely. Rather, it is more likely that offerings like these will only lead to even more ICO projects which will fall apart sooner or later. At the same time, it is evident there is sufficient genuine interest in the ICO business model to warrant hiring third parties to take care of things on one’s behalf. How all of this will play out in the long run has yet to be determined.