The global ICO hysteria is far from over. More than $5.6 billion of capital was raised in 2017 through ICO. This compares to $1 billion of ‘traditional’ venture investing in blockchain startups in the same time frame and a ‘mere’ $240 million raised by token sales in 2016.

There are at present, more than 1600 cryptocurrencies in existence and more popping up by the day. In Southeast Asia, for instance, a Philippine-based startup known as PawnHero created its own cryptocurrency to disrupt the pawnshop industry and take it global. Singapore is also home to numerous new blockchain companies, one of them being commerceLAB, is dedicated to the development and promotion of consumer data sovereign blockchain. The company believes that data privacy is a fundamental human right and internet companies owe a duty of care to all users in this digital era. commerceLAB’s blockchain solutions enables consumers to have full control over their personal data and be able to profit from it.

Startups with the intention to raise funds via the ICO vehicle is faced with the enormous task of distinguishing themselves from the noise. The technical complexities of this new terrain alone are enough to snuff out even the most seemingly-qualified projects let alone presenting a strategic marketing plan with a strong marketing mix that will appeal to an investor’s financial roadmap, but also the public’s expectations for usefulness and value. That’s where marketing companies like Bebop Asia come in.

At Bebop Asia, we do screen ICO projects heavily before we agree to take them on. The ICO landscape is cluttered with far too many scams, or ideas which could be great but don’t make any sense for tokenization or transition. Within that landscape are some diamonds in the rough which could benefit from shared-ledger technology. Finding which projects are worth supporting is a bit of a mix of art and science.

So what exactly does it take for an ICO to be taken seriously? As it turns out, the promise of profit isn’t the first thing we look at. In fact, it’s down a few notches behind other key points.

Our first qualification for any project involves values. It doesn’t have to be a purely social good or save-the-environment project, but it does have to involve good people who have values, and are driven by more than pure profit. Bebop Asia believes that reputation precedes profit, and it can make the difference between a project we’ll consider taking up versus one that will end up in the bin.

If they pass the not-scam-artists test, we look from an investor perspective, and ask the core questions an investor should ask of any project. Primarily, we look at the top couple of people on the team—who they are, how much presence they have, and ultimately, whether they have the experience to scale the company and make it succeed. We also put the CEO’s presence to the test: a CEO has to be sharp, eloquent, and must possess a powerful presence. Bad C-level executives ruin companies.

Our research into ICO companies include scrutinizing the project’s white paper, website, technical presentations and where possible, interview the CEO and CTO. We will then have a very good idea of what the company is trying to do. Why they are trying to do it. And if it makes sense for shared ledger tech or tokenization. If it’s a great idea with opportunities for market penetration, and the team has a good mix of tactical experience and open-minded-silicon-valley dreaminess, it has a good chance at success. Numbers are also key here—if companies try to raise $100+ million, they better be paying attention to what’s happening in the world of ICOs.

Another determining factor here is whether they can take feedback and use it to adapt. At the end of the day, many things can be fixed, adjusted, or updated if the idea is great enough to work with. But that depends on the team’s ability to set aside egos and use criticism as a weapon for growth and learning. The company’s ability to evolve is extremely crucial.

While we face an entirely different set of challenges for ICOs marketing, the fundamentals of doing good marketing are similar: Establish brand with action, support it with reliable design and quality materials, and maintain high quality standards.

We would like to conclude this blog with an important highlight to all would- be ICO companies. We cannot emphasize enough the importance of community to an ICO. Channels like Telegram, Discord, Slack and Twitter should have priority, personality, and regular engagement. Bitcointalk.org is also incredibly helpful. Taking the time to analyze and maximize these channels is crucial. Any ICO marketer worth their salt should dive into the alt-coin announcement section on Bitcointalk on a regular basis, as well as staying updated with vital publications like Cointelegraph, Coindesk, among others.