This step created a wave of fear in the cryptocurrency community and eventually, everyone started looking for stable and verified ICOs offering.
Listings like Top ICO List, ICO Alert, Bestcoins, and many other which were offering services to the ICOs and community, discarded ICOs with a scam in order to prove that all these listed companies are authentic and having strong foundations.
Startups planning to crowdfund with an Initial Coin Offering, focused towards being listed and verified rather collecting Facebook Likes.
However, companies like Centra were still engaged to utilize deceitful tactics like adding celebrity endorsements for product promotions.
Such endorsements created more skepticism on which SEC stated that endorsements like these may be unlawful, if there is no disclosed source and amount of any compensation to be paid directly or indirectly by the company for the endorsement.
Transparency above Board
ICO marketing teams were strictly instructed to devise the new strategies since various services were emerged to rate ICOs based on specific guidelines.
This measure was taken to ensure the transparency, welcoming greater number of institutional investors entering into the crypto-market. This audit was necessary for the ICO survival.
Today, ICOs are required to specially focus the potential legal ramification associated to their claims. Government agencies are also taking great part to take strict notice against ICOs and cryptocurrency legitimacy.
Advertising campaigns must be designed carefully if something is announced, there are no take backs and governments of the countries can disrepute the cryptocurrency community.
Keeping Up With Latest Trends
Cryptocurrencies are highly dominant when it comes to public perception, which is not always dependable therefore, cryptocurrency marketing, requires constant knowledge of the latest trends to figure out how these currencies can effectively discriminate without hindering any legal rule.
The value of cryptocurrency is based on the hype that’s why any good or bad marketing can change its value by million dollars therefore, marketing requires constant knowledge of every aspect along with various legal reviews.
Fortunately, today many organizations are focusing on the legal facts to support the crypto space and promoting actual utility rather false claims.
You have to spend money to make money, this was a common adage and today this saying has completely transformed into a more rational phrase that is you have to spend money in the right places to make money.
People are getting smarter, taking notice of the doubtful advertisements that attempt to take advantage of them.
For constant stability, ICOs require a good team, right funding, right product and their investors trust to move forward in the market.
Hamas Hassan is a Digital Marketing Executive working for Cubix, a software development company in Washington, DC. He loved to write everything which revolve around emerging technologies of today’s era like Artificial Intelligence, Blockchain, Mobile Apps, and Digital marketing tactics. By having a vast grasp over those helping thousands of readers to learn and enhance their knowledge and expertise.