[Translation] This is convincing! The psychology behind funding via ICOs

Looking back on this year's ICO, if next year you want to participate in ICOs more carefully, or if you ever want to run an ICO yourself (aside from legal issues), this article will likely be of great interest to you.

Golem, whose tokens were sold out worth 900 million yen within the first 23 minutes, is the subject. While the project’s overall evaluation should be done from here, I was impressed by how smart the groundwork for fundraising was—unlike other projects that scream about bonuses and advertising, they managed to prepare the groundwork for funding very intelligently.

Of course, since fundraising is the objective, you cannot directly link the means to the project's success.

There are countless clever tactics—an early bonus system skillfully engineered, SNS-linked bounty (rewards) programs, indiscriminate advertising strategies, paid articles on well-known news sites around the world—that can lead to fundraising success and, in some cases, the project’s success; in other cases, it may stall or vanish by running away.

Even if the technology is excellent and has high future potential, failure to raise funds due to lack of PR or underdeveloped communities can result in a painfully long time to succeed, or in the worst case, collapse or be overtaken and disappear before that happens (e.g., due to fund depletion).

This article is,from the perspective of whether you are considering an ICO,I think you should read it.