Tokenization is currently a very popular concept in the blockchain sector and the result are numerous products created on the principles of the blockchain technology.
The blockchain technology is experiencing a huge growth and it is becoming more and more present in the society. Almost every innovator is finding a new way to implement the blockchain technology into his or her existing or brand new products.
One of the main reasons for the growing popularity of tokenization is its benefit of bringing quantification and property management of any product. When the means are tokenized, the process of supervising and accessing the value is simplified. The already existing businesses and startups alike can quantify their products in order to achieve more effective administration of their products.
One of the areas where tokenization proved itself as efficient is crowdfunding. The sale of tokens is very popular in the blockchain sector, mainly in the form of ICO (Initial Coin Offering) projects. Developing businesses and startups have recognized tokens and ICO projects as suitable ways to expand and develop. The reason lies in the lack of regulations and the possibility of raising funds from any location around the globe.
There are thousands of token sales which were concluded or are still ongoing in the blockchain sector. Some sales were successful, while others did not do so great. The difference between these two groups usually depends on the quality of their sale. The quality of the sale is composed of several components which organize the sale of tokens and its execution.
The first thing that should be considered is a good idea, preferably in the form of a product. However, a good business plan describing the idea in detail were enough for some projects to initiate an ICO project despite not having a finished product.
Second, you need a good team behind the project which is able to execute the plan and deliver a software or service the way it was promised.
The third important component is a good marketing team with a sufficient initial budget.
Neglecting one or more of the aforementioned components was identified as the main reason for unsuccessful token sales.
All these components are combined together. For example, a brilliant idea with the right team, but with a lousy marketing plan can lead to unsuccessful end result.
This is why there are specialized startups focused on different aspects of project building. Companies such as Never Stop Marketing, MarketAcross, ICOPromo are basically PR companies offering professional marketing services, especially to startups. On the other hand, companies such as TokenLab went even further and offer a complete package where a client needs to present his or her idea and provide some basic information and the company will execute the entire ICO project from tokenization to marketing.
With the appearance of these professional services that support startups in the blockchain sector, we can expect to see a huge influx of new blockchain products and adaption of many existing ones to the blockchain technology.