13 Oct If you want to do an ICO (or a TGE) these are the steps you need to take and the approximate costs involved:
1. Have a really good idea where there is a natural fit with the blockchain and token technology. Sounds simple, but there are already so many me-too products out there, or companies trying to shoe-horn themselves into an ICO. The cost? You get to think up the idea for free.
2. Legal fees. Are you going to issue a utility token or will your token be classed as a security? It’s never a good idea to play fast and loose with the SEC, the Commodity Futures Trading Commission or the US Financial Crimes Enforcement Network, so make sure you get good advice. Check out this article: https://www.stellar.org/blog/3-common-misconceptions-about-ICO-law/. Attorneys in this field will cost you anywhere from $250 – $1000 per hour, and you should budget around $100,000 – $150,000 depending on the complexity of your offering.