Tips to Make Your ICO Bounty Programs Stand Out

Unleash The Power Of ICO Bounty Programs With These Game-Changing Tips!

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Every time a new product hits the market, marketers and advertisers develop an advertising or marketing plan centered around its marketing penetration metric - this simply measures how widely known an offering or service becomes known by as many individuals and customers as possible. The goal is for as much familiarization of an idea or company's offerings and how customers will benefit from using said service/product as possible while simultaneously stimulating word-of-mouth marketing, providing free exposure.

Due to social media's rapid expansion and internet use, social media marketing is an integral component of most businesses' marketing strategies; some even solely use it as part of their launch and promotional plans for products or businesses. Now more than ever before, emerging blockchain companies are using bounty programs--an old concept with modern twists--to market their projects effectively and profitably.

As we go along in this post, you will discover just why bounty programs have become integral parts of marketing blockchain projects as well as when and how participants can participate; any risks involved with doing so as well as their possible future prospects!

What Are Bounty Programs?

Bounties originally come from online gaming, where players were typically offered prizes as compensation for helping with game development through bug hunts. More generally speaking, bounties serve to incentivise clients--or investors of blockchain projects--to take some action, by rewarding users for finishing simple tasks at no charge to them and also act as effective promotion for said project running the bounty program.

Bounties have quickly become one of the cornerstones of cryptocurrency ICO processes, becoming more valuable with each subsequent offering. Many recently released blockchain projects have an ICO program with some form of bounty reward built-in. Users may receive prizes for promoting or reporting bugs within software applications or simply contributing their time during development during bounty periods.

Bounty programs provide an alluring means of diversifying one's cryptocurrency holdings as their rewards usually consist of cryptocurrency itself. Cryptocurrency bounty programs have proven an excellent way to promote new technological projects as most enthusiasts tend to be younger and used to gaming bounties; additionally, cryptocurrency bounty programs give cryptocurrency enthusiasts generous incentives and add enormous value to start-up projects.

How Bounties Tie-In With ICOs

As cryptocurrency bounty programs have advanced to this stage, more projects now include pre and post ICO bounties in their projects. Most often though, bounties do not accompany an ICO offering directly.

Pre-ICO Bounty Programs

These bounty programs take place prior to an Initial Coin Offering (ICO), as their name indicates. Pre-ICO bounty events aim at building excitement around an impending project by building excitement through events held before it launches on social media channels such as Twitter or Facebook.

To expand market penetration, non-social media advertising channels might also be employed; bounties may also be utilized in this regard to engage individuals in activities which raise awareness for your project while hopefully leading to additional word of mouth marketing efforts. Examples of pre-ICO bounty initiatives would be:

Social Media Campaign Bounties

users are motivated to engage with their social media accounts by these bounties, with incentives often tied to how interactive posts become. Rewards could come from YouTube comments and shares, Facebook post engagement and shares, Twitter tweets/retweets/retweets etc - one popular target being Twitter!

Article Writing Bounties

Bounties for writing articles can be an extremely lucrative activity for bloggers or other online platforms with high readerships, such as blogs or vlogs. Authors who publish a featured post to their blog receive an article writing bounty, similar to social media bounties; rewards typically depend upon its visibility and engagement - so articles with higher views or shares could possibly qualify for higher bounties.

Bitcointalk Signature Bounties

This popular Bitcointalk forum-member-exclusive bounty can often be found within initial coin offerings (ICO). In order to be eligible, a signature provided by an ICO project with its unique tracking code needs to be included and included on a signature line on their message (to facilitate tracking purposes) on order to qualify for it; depending on their position on Bitcointalk forum will dictate their bounty level - in most cases Jr. members or above would qualify.

Pro Tip: Many bounty programs allow individuals to post signatures across multiple Bitcointalk accounts as part of a single individual signature pool and potentially collect bounties from each one individually. This means you could potentially claim bounties on as many accounts as desired!

Post-ICO Bounty Programs

Project marketing efforts take on an entirely different tack after an ICO has ended and funds have been collected, often via bounty schemes aimed at increasing community involvement with suggestions made through social media or blogs. Examples of post-ICO bounty program formats could be:

Translation Campaign Bounties

Participating in such opportunities can be rewarding; such projects often include translating project documentation and moderating conversations in foreign-language forum groups. Bounties like these offer great benefits to multilingual speakers; they typically involve translating a website, whitepaper and Ann thread on Bitcointalk forum for particular projects.

Bug Reporting Bounties

Experienced developers can contribute significantly to any blockchain project and earn rewards when bug reports are awarded as bounties, providing scarce developer resources with some financial security in return for reporting any issues with software or platforms in a clear, succinct format. This approach ensures any problems can be quickly identified when writing reports in this manner.

Though these activities represent typical pre-ICO and post-ICO bounty activities, it's essential to keep in mind that bounty programs are unregulated. There may be different kinds of bounties available but those mentioned above have proven popular due to being proven successful. As far as cryptocurrency projects are concerned, each one maintains sole authority over any bounty programs; new projects typically set aside an amount from their coin supply for bounty schemes that is disclosed either within their whitepaper, company website or Bitcointalk ANN thread.

Read More: Crypto Wealth Unleashed: Investing In Ethereum Tokens - $50k Potential!

Tips To Consider While Creating Your ICO Bounty Programs

As part of an initial coin offering (ICO), creating and executing an effective marketing and promotion plan is vitally important. Although new ICOs appear daily, only few survive past gestation phases due to not having a plan in place for product development, not understanding who their ideal target market is and failing to use all appropriate channels and content funnels effectively.

Here is a comprehensive list of marketing and advertising tips for successful ICO bounty program:

Keep Updating Your ICO's Whitepaper

Your Whitepaper should outline the value proposition of your initial coin offering (ICO). Be sure to update it whenever significant improvements to your product occur and post for public reading on your official website; alternatively a lightpaper of your ICO can also be posted if sensitive information needs be kept from reaching target audiences.

An Up-To-Date Website

An official website serves as the entryway into any company or initial coin offering (ICO), offering vital visibility. Showcasing how your product addresses market issues or how an ICO holder benefits is essential. Aside from providing access to your coins roadmap and demo product demo as well as white paper press release archives. Also include links to relevant communities as well as Telegram accounts to increase membership participation and help entice new people in joining.

Live Webinars And AMAs

Attracting investors and community engagement for your initial coin offering (ICO) requires personal branding - also referred to as humanized branding. Take the initiative and engage directly with cryptocurrency influencers on Twitter, YouTube and Telegram community channels; engage live AMAs (Ask Me Anything sessions) on these social platforms in order to foster an in-depth knowledge about your coin among your target market; pre recorded interviews of professionals within this niche industry can aid with engaging current communities more directly.

Optimize Your Social Media Handles

Maintaining an online presence via Twitter, LinkedIn and Instagram is of utmost importance for any ICO project participant. Create an engaging bio that showcases your work experience within your field; additionally request that every project participant post regularly on his or her account(s).

Harp On Social Influence

As is well-known, financial experts, business moguls and notable artists can exert tremendous influence in the Blockchain and Altcoin industries. Take advantage of current strong trends within the altcoin market to your benefit by drawing more users onto your prominent platforms by acting like magnets for them. 11) Relentlessly Engaging PR and Content Marketing: At the core of any initial coin offering marketing plan is PR and content marketing strategies that remain consistently on message.

Press releases provide an effective means of keeping track of any recent development at your ICO in the news cycle. Content marketing means creating search-friendly pages both on your website and popular tech blogs such as Medium or Hackernoon. Also be sure to plan a social media schedule that updates on product developments or offerings as well as long form articles about them.

Create A Cult For Your ICO

Market your Initial Coin Offering (ICO) to your target audience using language they can understand and in a direct and humorous fashion, using predetermined ICO pitch and vocabulary that speaks directly to their needs. Shibu Coin uses lighthearted marketing, with their lighthearted social media accounts as examples; their initial coin offering yielded enormous returns, so don't give up! Your initial coin offering (ICO) could soon yield immense dividends.

Power Of Marketing Via DEXs

Choose top exchanges such as MEXC, BitMart, WazirX and Huobi to list your token.

Influencer Marketing

Social media cryptocurrency influencers can add significant impact to your initial coin offering (ICO) marketing in an otherwise competitive market, due to their larger social media followings and ability to help expand visibility of your ICO offering.

Declare Your Value

CrunchBase, an established resource of information on cutting-edge businesses and companies, can serve as an excellent way to showcase the legitimacy of your initial coin offering (ICO). Here you can discuss funding mechanisms as well as any other pertinent details of your offering.

Leverage Your Partnerships Advantage

As you form partnerships with different institutions, take note to use their established online presence as leverage. Contact media partners, blockchain partners and cryptocurrency investors directly so they can best represent you -- make the most out of these valuable partnerships and take full advantage of all available opportunities.

Criticism Of Bounty Programs

After the 2018 burst of the Bitcoin bubble, several initial coin offering (ICO) bounty programs came under scrutiny due to their similarities with pump and dump stock market schemes. A common reason businesses use bounty programs is for outsourcing marketing to average people - providing businesses a low cost yet effective method of advertising their ICO. Critics contend it violates ethics as it pretends to be impartial while publicly touting benefits for any type of investment while receiving covert payments in return.

Robert A. Cohen, Chief of the Security and Exchange Commission's Cyber Unit, issued a warning in 2018 following his investigation of an fraudulent initial coin offering (ICO): "Investors should remain wary of fraudulent ICO offerings that masquerade as innovative blockchain-based platforms like bitcoin."

According to an investigation by the SEC, David T. Laurance and Tomahawk Exploration LLC attempted to sell "Tomahawk Coins," virtual currency tokens created for sale through an initial coin offering (ICO), to raise funds for oil exploration in California. Although Tomahawk did not raise any funds through their initial coin offering (ICO), tokens offered as payment through their bounty program for advertising services offered as rewards were sold as payment instead.

Potential Bounty Risks

Bounties may sound appealing at first, giving away tokens in return for simple tasks--what could possibly go wrong? Unfortunately, several things might go amiss: investment into subpar projects with coins of no worth whatsoever earned, becoming social media memes by touting worthless tokens, but many fail to recognize an additional risk: soft caps and hard caps implemented during an Initial Coin Offering (ICO).

Where many fail to meet either soft cap threshold and thus any funds collected are returned back to investors due to failed token offerings (ie an unsuccessful ICO); soft caps as hard caps limit the money raised from investors as many times an ICO fails its initial soft cap threshold; since this ICO failed, no tokens were ever created or given out at all - leaving investors out.

That means any time spent writing articles, promoting on social media and searching for bugs constitutes time wasted; when coins don't issue either, so neither are your bounty coins; you haven't lost money but have wasted an invaluable commodity: time. Even if this only ever occurs once for you, your approach towards bounty programs may change quickly as soon as this experience hits home - you might become more cautious in selecting projects without development plans and product plans, hoping to raise $10 million and offering 40% of total coin supply as bounty participants.

The Future of ICO Bounty Programs

As initial coin offerings (ICOs) gained tremendous traction in 2017, bounty programs also witnessed unprecedented expansion. Crypto enthusiasts eagerly participated in programs offering token giveaways. That alone suggests their future success despite an impending threat: financial authorities such as the Securities and Exchange Commission in America have begun scrutinizing bounty programs as they encourage individuals to purchase assets that require financial risk-taking.

The Securities and Exchange Commission's investigation primarily revolves around Howey Test's applicability to reward schemes, specifically bounty campaigns. According to SEC speculations, bounty campaigns qualify as investment contract transactions because blockchain projects benefit from third parties such as bounty participants who promote them, thus classifying bounty promoted tokens as securities that fall under securities regulations governed by American regulators alone or even financial regulators from UK - this may or may not result in end of bounty programs; nevertheless they will certainly come under closer examination as legal parameters surrounding cryptocurrency become clear.

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Conclusion

Bounty programs provided by cryptocurrency projects tend to provide significant rewards for cryptocurrency enthusiasts who take the time to conduct independent research before signing up blindly for any program they come across. Participants should become increasingly selective as more ICO bounty programs become popular.

Bounty programs could come under closer regulatory scrutiny due to increased pressure from regulators, leading to an escalation in scrutiny that should result in many unnecessary initiatives being discontinued. While prospective participants still must perform their own research before signing on with any bounty programs, increased scrutiny should make finding legitimate and valuable bounty programs simpler and help streamline recruitment efforts for both.