This image should prove something to you if you’re keeping up with my articles at all. This image holds the proof in the pudding about how important having a cryptocurrency community is to your ICO. It proves that a healthy community will always try to help the team out whether it brings leads or partnerships. The second thing it proves is that winning competitions really boost your visibility.
Winning competitions increases your presence in cryptocurrency communities for two main reasons. One, it’s an awesome way to get some free PR. Publications are likely to write about a project winning hackathons than a project by itself. By gaining visibility, you can grow and kick start your cryptcurrency community.
Two, it gives social proof to the team and platform. Prestigious hackathons are weary of scammers so the process of even competing vets a team. People can trust the Ethereum organization to vet the correct people. In addition, getting first place gives a direct benchmark on how good the project is. People will already know your development skills and are much more likely to stay in your cryptocurrency community.