Icoico’s mission is to create accessible, safe tools for preparing, launching and managing Initial Coin Offering (ICO) operations. Our team is currently developing a growing set of complementary tools and infrastructure designed to provide ready-made solutions to simplify the ICO process, from token issuance and wallet, to backend services for token economy management. We focus on medium and micro sized ICOs, which are currently underserved. We believe this will allow smaller projects, particularly within the early stage startup, opensource, science and nonprofit sectors, to access this new technology in a safe and user-friendly way.
Currently, launching an ICO is a time consuming and expensive process. It requires blockchain engineers (in high demand and short supply) or alternatively the use of a high-touch advisory service involving hefty fees (several thousand dollars). For small and micro token issuances (say below $20,000) the current process is not feasible.
Icoico radically changes the approach to ICO issuances by drastically cutting the initial costs and time required to run an initial coin offering. Our fees are transparent and affordable: deployment of an ICO on icoico.io costs ~ 0.164 ETH (currently ~ $52, varies depending on the USD/ETH rate and gas price)+ 5% of the collected funds, and the launching process takes less than an hour to set up and deploy on the blockchain.
We soft launched icoico.io in August 2017 as a simple automated ICO launching platform to issue ERC20 tokens on the Ethereum blockchain. Our goal is to reach an annual turnover of $100-150 million in ICO issuances through our platform over the next two years. At today’s exponential month-to-month growth rates for the ICO market (see exhibit 8), we estimate this would represent a share of < 10% of the ICO market and < 30% market share for the micro ICO market.