Why a Whitepaper is Important to Lock in Investors
Writing a good whitepaper can be the difference between getting the funding you need or going back to the drawing board. Yes, the stakes are that high and a successful ICO will almost always depend on how great your white paper is.
A white paper in simple terms is a piece of document that addresses the problem that your project aims to solve. Furthermore, in the white paper, you must give a detailed description of your product and its architecture and how it will interact with users.
When creating a white paper these are some of the key points you can focus on:
- List of the content in the paper
- Describe the market and the problem
- Describe the product
- Explain how the product will solve the problem
- Explain the token allocation
- What will you do with the raised funds for the project
- Bios of the team members
- The roadmap and prospects of the campaign
Whitepapers and Investors
The reason why white papers are important for crypto projects is that it is the starting point where you introduce your project to the world. Without a white paper, not many investors will take you seriously and therefore your funding will be limited to what capital you and your team members can pull together. This capital amount that you scrape together may not be sufficient to sustain your project for an extended period.
What are investors looking for in a white paper
An IDEA — Your idea should be understandable by just reading the first few lines without getting into the technicals of the project. You should address the development parameters and reveal what types of innovations the investors can expect.
Impact — Explain to the investors what the current situation is in the markets and how your project will influence the markets after the ICO and into the future.
Forecasts — Don’t make unreasonable assumptions of the future growth of your project that can’t or won’t hold up to scrutiny.
Functions of the tokens — Layout a general description of your business processes and explain the token functions in detail.
The style of the whitepaper — Look at the quality of your product and how it will look as a completed product. The document should be well structured. In the end, you should have a good selling point for the investors.
Investors are important and you should go beyond your means to impress them without sacrificing the integrity of the project.
An ICO is important to gather the funds that will propel your project forward. However, without a well-put-together, white paper investors won’t even consider the product or service that you have worked so hard on. Paying attention to the smallest of details when it comes to your product and white paper can make a difference. Make sure your white paper exceeds the expectations of all the investors so that you can be guaranteed a head start in the crypto universe.
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