My education to create an Initial Coin Offering (ICO)

Having been in the Daily Fantasy Sports industry for 5 years and created computer models to compete to win in DFS , I first learned about block-chain technology in early 2017. Looking into this technology I realized there was an opportunity to build a DFS platform built on the block-chain. In June of 2017 I met my future partners Lee and Korey . Lee had been involved in ten ICOs at the time and was way ahead in knowledge then anyone I met. Korey owned a DFS company before Fan Duel and Draft kings were ever heard of. He was very successful and sold his company to a Canadian company.

We decided to create and launch an ICO in this space. (playdfs) It was such a learning curve for me as this space changed, what almost seemed daily. First where to base the company, well we choose the Isle of Man because they are crypto friendly. Now we had to have a website built for the ICO. We choose a foreign company to build the website. (mistake) I am not saying they did anything wrong but it took 6 months to get the site built. I believe there is a language barrier when explaining whats required.

Now the Whitepaper. A white paper is a business plan for an ICO. Again I used a foreign company (mistake 2) same reason. I have had to change my whitepaper 8 times since then. Today its being edited for the final time,(I hope). If oyur going to have a whitepaper written spend the money and get it done correct.

18 months ago you could just put up a website and whitepaper and get millions of dollars in funding. (no kidding). Today the space has evolved as its much harder to be successful. I believe this is good for the industry because there were so many scams (as we will see in the next 12 months).

When we built our site we wanted top advisors to help us promote our ICO. This has totally changed as now the key is strategic partners. The problem I see with advisors is they come on board for the tokens and dont do anything. I know this is a broad statement but from what I have experienced its true. Moving forward I place tiers for the tokens received. In order to get tokens you have to promote the ICO. What puzzles me they have a vested interest in the ICO succeeding.

to be continued...