Last week we looked at being a true community member. This week I want to talk about Partnerships.
Let’s look at partnerships in ICO projects. They can be incredibly powerful for an ICO, because both their perceived and strategic value are great indicators of success for the campaign and future of the company.
Strategic partnerships have always been a great way to grow and scale, but in ICOs they’re particularly powerful because they give reassurance to potential investors- especially if the partnerships are with people “above the paygrade of the ICO, as a start-up”.
One ICO from early 2018 is a company called TriForce, operating in the video game sector. Their Token (FORCE) seeks to become the universal gaming currency built on the Ethereum platform.
Their campaign attracted a huge partner in Latin America called Busca Todo, whose website (levelup.com) sees 50 million gamers visiting every month. This was, of course, a big deal for TriForce (a small team from Milton Keynes, UK), who gained a gaming giant on-side, with all the marketing and brand support that entails, plus access to a new community of gamers and potential investors.
Another great example of an ICO forming strategic partnerships is Contract Vault, based in Crypto Valley (Zug, Switzerland). They formed strategic partnerships with several highly renowned and influential firms around Legal counsel, tech implementation etc and gained a massive spike in attention to their campaign as a result. Their biggest partners, Eternitas and ChainSecurity, opened up new audiences for them and provided reassurance to potential investors about their ability to deliver their entire vision beyond the ICO and into real paying customers and business growth.
Partnerships also show that well established companies are endorsing and siding with the ICO and believe in their technology and ability to succeed. Be very wary of ICOs that are not forming strategic partnerships, as this could be because there aren’t any partners that feel compelled to join them or, worse, they are just in it for an exit scam and so are not focused on future success, just ICO contributions!