Launchng an ICO

[jatoshi]

Hi, my company is planning to create an ICO on the Solana Blockchain. Mainly because its fast and efficient with low transaction fees.
Just wanted to get some feedback about the ICO market, sorry if I am not in the right place. 
We are planning to launch a coin as a utility for the alcohol market with a subscription to a search engine we've built over the last 4 years to search alcohol at the cheapest price with a lot of data analytics.

The long term goal of it is for the market to use our coin to transact. It can save a good margin on forex costs and bank transfer costs plus potentially cut out middlemen that make certain wines & spirits a lot more expensive than they should be.

How's the confidence level in the ICO market at the moment?
Are all the ICO projects being cap raised through a lottery system?
Would it be wise to launch an ICO without using a lottery system ?
Is it better to launch an ICO with a high number of coins or a smaller number of coins issued/minted?

Thanks for any kind of input:)

Jatoshi

[perla]

How's the confidence level in the ICO market at the moment?
Are all the ICO projects being cap raised through a lottery system?
Would it be wise to launch an ICO without using a lottery system ?
Is it better to launch an ICO with a high number of coins or a smaller number of coins issued/minted?

This is just from my experience.

1. I don't think the confidence level about the ICO atm is low, especially the trend now is in IEO which is a short term for Initial Exchange Offering. Many people prefer this rather than the ICO.
2-3. It's my first time hearing an ICO that has a lottery system, I am not sure how does it work but probably it would be a good idea. I'm not that sure if it will hit as you can see in gambling sites lottery games were not really that popular.
4. It doesn't matter I think but for me lower number of coins means more value to me rather than a lot of coins but the price is a little bit low.

[asriloni]

You can see that the progress of the ico market right now through this link https://icodrops.com/

icodrop is a the best ico list site. Thousands of investors were actively using this site to discover the new ico. It's not using the lottery system.

It's very similar like IPO but you're selling your token to the investors. The investors itself will determine whether they will be interested to buy your token or not. If your project already got a very big demand from the investors before it got launched and then you can try to use lottery system but you must know how big the demand for your ico.

The number or supply of coins didn't matter a lot as long as it has utility usage.

[passwordnow]

To tell you honestly, there's no longer interest in the ICO market. The market for ICOs are already obsolete and it's no longer appropriate for you to launch that these days. People are no longer going to invest in your ICO unless you're Facebook, Amazon, Tesla or so.
If you understand that part, I'm not discouraging you but only telling the truth that the ICO market is not that effective as before, the trend has changed a lot.

[anu1908]

The number or supply of coins didn't matter a lot as long as it has utility usage.

it does matter for investors. if you release a lot of tokens at the beginning with little to no buy support, i don't think big investors will take part in it. most of them would prefer vc deals where the project sells them some allocation, and then release a small number of tokens for initial trading so they can pump and then dump later.

[zasad@]

How's the confidence level in the ICO market at the moment?
Are all the ICO projects being cap raised through a lottery system?
Would it be wise to launch an ICO without using a lottery system ?
Is it better to launch an ICO with a high number of coins or a smaller number of coins issued/minted?

See how other cryptocurrency projects are entering the market. These projects have very early investors.
The number of coins depends on your tokenomics, but it should be reasonable.
I would prefer to launch a project on Ethereum or Binance smart chain, because there is a large community there.
I am not asking for Solana, but there is very little liquidity in this ecosystem.

[semobo]

The era of ICO already ended, so its not a good idea to launch the project via ICO because even most of the good projects were filed after launching via ICo against these big centralized IEO marketing. So now you need money to launch your project then only you have chances of winning or alteast better promote it via bitcoin because bounties are considered as craps and no one is giving attention to it anymore.

[Shallow]

Many people have claimed to launch a product into the alcohol ecosystem and I think I am yet to see any which is still working till date, thus I hope you and your team knows what you are getting into and have the experiences needed to drive the project into the required height.
On the part of ICO, nothing has been heard about it for a very long time now, in fact I don't think there is any project which has launched an ICO for month now if not years, rather the current trend is now IEO and IDO; IEO which takes place on reputable exchanges and IDO which takes place on DEX.
Therefore, if your team want to have a successful public sale as that is what IEO, IDO and ICO are called, then the focus should be on IEO or IDO, and one of the prerequisites for a successful public sale is having good use cases and working products.
Choosing Solana blockchain is a good idea, because if your project is good enough, it will get enough support from the Solana team. I think the method used during public sale depends on the platform you are using, some uses lottery system and others don't. And the number of coins to be minted is also important, but I think that would be left to your team as it will be in line with the public sale price.

[WalkerIVIV]

The confidence level in the ico market was still high. So many icos were also getting an alternative way to launch its ico and maybe you can try to consider it as a way for your company to raise the funds but that depends on how good your project. This will be attracting people to get into your project and then if they were interesting with it and they wil be joining as community.
You can try to take a look at so many projects already reached the hardcap. that's proven that if the ico is still worth to try

[Sollaes]

As I understand, you want to create your token as a means of payment, so you don’t need a lottery system. You can just mint them and then distribute them to those who want to buy your products.
As for the launch date, I don’t think that it is the right time now. There are too many shit coins everywhere, so you should wait for the crypto winter when this strange hype is over and many good projects start arising.

[cryptoaddictchie]

How's the confidence level in the ICO market at the moment?
Are all the ICO projects being cap raised through a lottery system?
Would it be wise to launch an ICO without using a lottery
Jatoshi

Depends. Not all ICOs are all profit generator there are some that after opening on the market dumped below the public sale prices. Now the thing is there are lots of it happening now but not all are in the same level. I joined some and lose some capital and other gained so cant really say if ICO is worth it 100% but cant say its not worth it either.

Its just gonna be on you based on how you reseaerched it if it does have a potential or not.

[jatoshi]

Thanks for all your replies and help. Its very much appreciated. A lot of very valid comments.  I've tried to incorporate them into the whitepaper with my team, we are almost ready to start posting on pre ico listings.. Would love to get your input.  In the end we've decided to go with an ICO..
Check it out, let me know what you think:
https://boozcoin.com/whitepaper/

Thanks to everyone for comments:)

Jatoshi