I wouldn't even consider an ICO or relying on outside investor funding if all you need is $100k to start. You should be able to get that easily through a small business loan. Many startups, not even crypto related, fail because they are primarily relying on and burning through investor funding, refuse to invest in themselves, and on top of that, have absolutely nothing generating real income to even pay the bills. If serious, what you and your team should do is invest in yourselves, build a working prototype, and go from there. Investors are more willing to invest in something when you can show them you are invested in it yourself. Most want to see that you have already done all the initial leg work and that all you really need is funding to scale.
Hi mgoz,
Thank you for your comment. Unfortunately we are in Thailand and there are no such things as small business loans here. As much as I would like to fund this out of my own pocket, we really do need a small amount of seed funding to get moving. It is of course true that everyone wants to see something. Getting the first bit is always the hardest, because by definition there is very little to show.
Which is also why seed funding always carries the biggest rewards. In this case, we need seed funding to begin. Later, we will need additional funding to scale.