Study: bounty programs play an important role in the success of the ICO
A group of employees of an American consulting company, Element Group 10 July published a report on the results of a study on the markets of digital currencies. The authors concluded that the profits of the ICO projects are directly linked to the scale of their bounty campaigns.
The researchers analyzed data from 164 ICO, which included a bounty program, and found that each additional $1 spent on the loyalty program that increases the total amount of funds collected during initial placement of the coins for $8-15. The subject of analysis are ICO, completed within the last 12 months. In addition to the other characteristics taken into account such factors as the maximum amount of the funds collected, the total amount of profit and the price of the token.
Digital startups start a bounty campaign to draw attention to your project, to strengthen its position in the digital space, to help in the fight against technical vulnerabilities, etc. for Example, program participants are asked to write articles about the ICO, to promote projects in social networks, reporting bugs to software code. Usually as a reward for this activity users get the tokens or, in rare cases, Fiat money.
Head of consulting company Stan Miroshnik said that the cryptocurrency sector goes from "model scale, the main sales" that prevailed in 2017, and emphasizes how important it is to develop and analyze various models of tomenselo.
It is noteworthy that the Element itself helps in the organization of the ICO and provides technical support transaction tokens.