The importance of advisors for Initial Coin Offerings (ICOs) is insurmountable and the role of an ICO advisor has evolved real quick over the past year. Regardless, the choice of ICO advisors is pivotable to the life of an ICO project. Before we can start talking about choosing the right advisor, we must first understand the purpose of an advisor.
Usually, advisors broadens the skill set and experience of a team without having the company hiring more team members.
One of the biggest success factor that potential investors are looking for is at the team profile. Choosing the best of the best of advisors is a way for an ICO to “rent” additional experience to increase their chances of success. The market rapidly saw an extra aspect in the industry, and that is credibility.
Having a subject expert agree to be involved in a project add a lot of experience but it is not just that. It is someone who should be in a good position to make decisions.
Many ICO’s treat the advisor role simply as a marketing solution, which is not a long term solution. Choosing the right advisors will also maximize the positive impacts on the ICO project. Advisors that can contribute their expertise in the right function would help grow the ICO.
To achieve that, having good understanding of advisor objectives and the ability to clearly communicate expectations are crucial in drastically increasing the benefits. Signing an advisor and then expecting them to deliver value without an upfront discussion would not be an effective strategy.
A cryptocurrency experienced advisor would bring their crypto expertise to the table.
Usually they’re either blockchain experienced, with full knowledge of the crypto economy or experience in the ICO process. Even if the advisor do not have a lot of crypto experience, a subject matter expert with deep experience in some aspect of the project matters greatly as well.
In most cases he/she would try to give different angles to bring disruption to another industry. The higher the advisor’s profile, the higher the chances of the ICO to be offered to potential investors.
Not all advisors are equal in skillset or levels of involvement. Identifying the best of the best is tough but with clear communication of expectations, it will increase the value added to the ICO.
An excited advisor is a good advisor.
Spiking is an example of an ITO project that brings quality advisors onboard. With the right people and expertise, I believe that Spiking would prosper in the right direction. Their Spiking App provides a platform to bridge the information asymmetry for between the average traders and the successful crypto Whales (big holders of cryptocurrencies), which is a great initiative to help traders gain traction in their ventures!
By Nuraishah Abu Bakar, Community Manager
Drawing from its successful and rich experience in the stock market since 2016, Spiking is expanding to cryptocurrency trading! With its unique and powerful trading tool and its AI robot Robobull, Spiking enables traders to easily find whales and mirror the trades automatically. At Spiking, we strive to help traders make better decisions and take the steps toward fulfilling their dreams of achieving financial freedom. Check out Spiking App, Top Grossing Finance App at App Store & Google Play.
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