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Genesis Fundraising

How Should Genesis Raise Funds?  

1 member has voted

  1. 1. How Should Genesis Raise Funds?

    • Run a Traditional ICO
    • Accept Donations
    • Other [Please Suggest]

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One of the most important issues facing Genesis is funding. The donations we received when we first released the Genesis token a year ago has enabled us to sustain and develop the project up to this point, including the development of the Genesis marketplace.

To help us continue development and to make the Genesis marketplace the best possible product it can be, in addition to bringing you other projects in the future, Genesis needs to be funded. While we have been able to pay from our own pockets to pay for server costs, as well as dedicating much of our time to the project for free, we do not have enough funds to hire additional developers, pay listing fees or market Genesis. 

With the new Genesis token and the upcoming release of the Genesis marketplace, we want to know what you think will be the best way for Genesis to raise funds.

The two main ways that we have thought of to raise funds are the following:

Run an ICO

This would see us run a traditional ICO by offering investors the opportunity to purchase Genesis tokens at a set price. While this does seem like a good option, we are aware that it takes a lot of work to run a successful ICO, as well as a large budget. We would be relying almost solely on our community to help us spread the word. 

Not only that, this would take away valuable time and resources from the development of the marketplace while we try to make the ICO a success, something which is not guaranteed, especially given the current state of the crypto market.


Accept Donations

This option would allow the community to donate to the project, making us a  truly self-funded community project. This is the option we took when we first launched Genesis and saw us raise 15 Ether which has been put to good use. 

If we went down this path, we would offer donators a certain amount of Genesis tokens in return. We would also like to look at offering other perks as a result of donating. 

This would require a lot less work from us and would be the best option financially for us as it would require little to no initial investment. However, for this to be successful we would need people willing to donate to the project.


Final Note:

To make Genesis a success, we do not need to raise millions of dollars or even hundreds of thousands. The funds raised would go on further the development of Genesis, through development, marketing and listing fees. It would also allow us to take the time needed to focus on the development as our bills would be paid.

If you have any other suggestions on how Genesis could raise funds, we would love to hear your suggestions. 

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