The community

Earlier we mentioned the two-pronged attack. In the past, it was enough to have a loyal community around your project and to expect the funds to come from that same group. Now, that's increasingly less the case. Today, the community is there to "do your marketing for you," meaning if they are properly engaged and incentivized, then they can and will have a huge impact on your social following, and the profile of your project in the market.

Investors will look at the size of your community and following when reviewing your project. If it's very low or non-existent, they will worry about your future prospects of success. The community gives you credibility. If absolutely nothing else, it demonstrates to your investor that you have the skills and commitment to build market awareness – a key skill in selling your product and building what will eventually be your business.

ICO rating sites work on "hype scores," and your community size, social...