Mike Finch, the co-founder of ICO Alert, has discussed the present state of the initial coin offering (ICO) industry. Mr. Finch shared his assessment that although the social media advertising ban has had a significant adverse effect upon the performance of promotional campaigns for ICOs, the number of new ICOs brought to market has significantly risen when compared with last year. In other ICO news, regulators in Colorado are investigating two companies that it believes have unlawfully promoted ICOs to Colorado citizens.
Also Read: 46% of Last Year’s ICOs Have Failed Already
ICOs Adapt to Social Media Advertising Ban
In a recent interview, Mike Finch, co-founder of ICO Alert, discussed how the ICO industry has responded to the recent advertising bans introduced by major social media platforms. Mr. Finch stated that although the engagement has declined on major platforms, the ban is forcing companies to focus their energy on targeting select audiences.
“There are two ways to look at this, for both ICOs and ICO marketing/consulting agencies, Mr. Finch said. “On one hand, it is bad because it decreases the sheer [number] of avenues for ICOs to advertise and you could argue it hurts the industry. On the other hand, I think it is good because it inherently requires ICOs to focus more on reaching the right audience. Advertising ICOs is very difficult because it’s hard to market to the right audience and know you’re marketing to the right audience.”
“You’re not simply trying to drive traffic to a website, you’re trying to drive contribution to a project, and completing that is a more difficult process than what advertisers/marketers might find in other industries,” he added.
Silver-Linings to ICO Advertising Ban
Mr. Finch outlined a number of positives reaped by the
