In order to start an ICO, many things have to be done, and these usually costs $
- Firstly, you would need to list on ICO websites to make your ICO known to the public
- Next, you need a telegram group for your supporters to gather and ask questions about the project. This is the time you'll need community managers to manage the community, and answer any queries investors may have. If you are planning to do a bounty program (to attract more investors), that would mean more funds have to be spent on marketing.
Not forgetting marketing expenses, talent acquisition expenses, and renting of physical office for the project.
Pre-launch costs on an ICO can be quite high, roughly 150k-200k on the conservative side.
I disagree a little. You don't have to necessarily have to pay to be listed on sites. There are several sites in which you can list for free. In addition, marketing using bounty programs is free of charge as you can pay tokens for individuals to spread the word. In addition, you can offer payment for direct referrals in BTC and ETH; these alone will get a lot of promotion. You can go with a Junior team to get you to the ICO; you only need a landing page, back-end, and smart contract. You can purchase a VPS, and users can work remotely. Hence, I feel like an ICO can be launched for under 10K