How important is to have a great name for an ICO?

ICOs have become, for sure, a disruptive madness for all the industries. Through an ICO you can fund your start-up, maybe in less than…a minute. And we are not talking about some thousands dollars. The potential is huge and we are talking about millions of dollars that can transform your idea in reality in less that we could have ever imagined.
The blockchain game depends on many important factors. The main concept of your start-up remains the most important. The implementation capacity to go from idea to reality is a must. The proven skills are valued as they were in the past. Technology, opportunity, a good timeframe, an idea that matters for the crowd and a well writen white paper are all ingredients of a successful recipe for an ICO.
But something is missing for more than a half existent and maybe future ICOs from the market…
Let’s turn back in the ‘90s. The Internet was taking advantage and a lot of companies were fast developing through this new wave. Do you remember which were the most used terms for the brands and companies launched in that period?
Let us refresh your memory:
- Internet
- Web
- Online
- Micro
- Tech
- Soft
- Bit
- Comp
- Net
How does it sound in 2018 a company which is called: “Fast Internet” or “Web Agency” or “Techbusiness”, or “Soft Experts” or “Online 24/24”? Let me guess: OLD! These terms were considered fancy and cool for that period. They have became “old slangs” of the new future. But let me remind something that is still true: “No age borrows the slang of its predecessor” Oscar Wilde. Colloquialisms of one generation may become unknown, unused or unliked by the next one because words that are “trends” now may emerge or maybe…may disappear.
After the “Internet” period it started the “Social” time. Then the “Cloud” era. What it’s now on trend?
More that an half of the current ICO’s start-ups and maybe also of the future ones have names that include terms like:
- Crypto
- Blockchain
- Block
- Chain
- Currency
- Cryptocurrency
- ICO
- Coin
- Token
- Bit
We are sure that after your successful ICO you want to continue with your innovative business idea developed on the blockchain technology. Maybe you will have a strong position on the market. So why would you want to have in 2030 a complete old fashioned and dull name? Why all of your future customers have to know in the future that your entire success is due to your ICO and this blockchain trend?
Yes, we agree with the fact that nowadays these terms are descriptive and you think that anybody will know what your business is. But this is only for this moment! And take into consideration that having a descriptive name it’s very difficult to differentiate on the current crowded market of “Crypto” businesses. In an year, the market will be ten times more crowded than today.
The first ICO was held by Mastercoin in 2013. As you may see, we have the term “coin” included in the name. But it was the first one! Of course, Mastercoin will remain in the history. Do you expect that all the “Coin” ICOs will be so easy to remember?
Now, let’s have a look on the list with the most successful token sales from 2017. We have:
- Tezos
- Filecoin
- EOS
- Bancor
- Status
- Tenx
- Mobilego
- Brave
This list contains ICO’s that have raised a lot of millions of dollars. How many of their names are including the trending terms? Just one: Filecoin. The rest of them have chosen original names. The kind of names that are speaking more about the core of the business than the current trend and the raising funds method.
Be clever and choose a name that represents your business, your marketing objectives and differentiates you on this crowded market. And keep in mind our following advice: Always, but always…a great whitepaper begins with a great name!
We are not blockchain experts like you are, for sure. But we are naming specialists, able to create great, memorable and lasting names for the future start-ups that will change the world. If you need our help in finding the name for your successful ICO, a tagline that fits with it and the perfect brand messages for your business, drop us a line here: https://www.namzya.com/get-quote.html.
You can follow us on Linkedin and Instagram to see the most recent updates from our work and our wonderful business trips!
Linkedin Accounts: Instagram Accounts: