So you have a new plan for your blockchain startup, and you know that when you start, it will generate some serious cash.
Now, despite your vast industry expertise and groundbreaking ideas, if you lack money, you might fall behind at one point or another. You cannot thrive in this competitive age without leveraging funding opportunities.
In this blog, we’ll give you no-nonsense, practical advice to raise investment for your Blockchain or crypto project. These tips will help you emerge as a credible entity and capture market attention with relative ease. Let’s dive in.
Want to Raise Funds for Your Blockchain Project? Check Out These Tips!
Create a Unique Product
In everyday life, investors want to be involved with innovative and intelligent people who can provide solutions outside the usual norm. This is the same thing they will look for in your blockchain project. How unique are you?
Your blockchain project should stand out from the rest to attract investors. If you are developing a product, show how it will solve a particular problem. You do not have to solve it at that specific moment; highlight to the investors that you will add it at a later stage during the development.
Utilize BlockChain Accelerators
Another tip to get your funds for your next blockchain project is using blockchain accelerators. A few of these specialize in startups and will give you access to several investors you can talk to about your proposition. Some include; Tribe, Wayra, Techstars, Chain Accelerator, and Founder Institute.
To be on the safe side, ensure that you do thorough research to determine the best to settle for depending on the kind of project you intend to undertake. Also, you will know the one that works for you based on the price, location, and investment opportunity they offer.
Once you finish your training in these startups, it’s proof to investors that they can bring in funds to support you. At the end of the day, it’s a win-win situation for both of you.
Have a Great Team on Your Side
Most of the time, investors do not look for anything specific to fund your blockchain project. All they want to know is what kind of people you associate with?
Have intelligent, skilled people with a desire to make a change working with you. This ultimately makes your blockchain project attractive. The investors will want to know more about it and invest in it.
Build Trust Through Blockchain PR & Social Media
First of all, investors know that blockchain startups are valuable and comprehend that they are the future of blockchain technology. At the same time, they know the ugly side of it where they fund a project, which ends up being a pyramid scheme with no direction.
Nowadays, without investors understanding and trusting your blockchain project, you might not receive any funding. Remember, your project proposal to the investors is not the sole one. There are many other multiple ones, and the investors will only want to finance with the one they trust.
Luckily, you can make the capitalists confident in your blockchain project through blockchain PR marketing. You need to provide journalists with accurate and convincing information about your proposal that will attract potential investors.
You can get your project or startup featured on top finance sites like Yahoo Finance, Coindesk, Bitcoin Magazine, and more to promote your Blockchain/crypto/NFT project. In addition, you must also leverage top social platforms like TikTok, Telegram, and Discord to create a buzz around your project and build a loyal community that supports your project.
Typically, ensure that the blockchain project proposal depicts your company’s pursuit and ethics. Also, make sure you show credibility so that you stand out from other new blockchain startups. These are simple things that potential investors will instantly appreciate and want to work with you.
Tip: Do not stop here; attend as many blockchain events, especially where they involve investors. Take this opportunity to utilize your networking skills and approach high-profile people.
Speak your mind and give details of your project; someone might be interested in what you offer and finance it. Events are also a great place to learn the requirements of the investors.
Try Venture Capital
Well, this is an excellent alternative if you cannot go through the blockchain accelerator program. Going back to 2018, we witnessed the highest number of blockchain funding on startups which has now gone down.
However, there is still hope for you with a laid-out plan for blockchain technology. The various Venture Capital firms are funding blockchain startups.
There are already investment funds that primarily aim to cater to blockchain projects at their inception stage. The European Union, for instance, has set aside 100 million euros specifically for starting blockchain projects. However, you should show a track of records to initialize the adoption process by the investors.
Clearly, it’s always challenging to get blockchain project funding without going the extra mile. You have to give your reasons and prove that the project is feasible, and these accompanied with some luck; you will get the finances. Be open to as many possibilities as you aim to get extra funds.
Also, keep visiting our blog section for more such industry tips & tricks.