There are two methods by which you can launch your Initial NFT Offering (INO):

(1). Single Token INO

(2). Dual Token INO.

The Dual Token INO refers to the minting and issuing of Fungible Tokens along with NFTs for an INO.

Dual Token INO is an interesting idea worth pursuing. It involves the following six steps:

Step 1: Conceptualization and Utility Design

This is the Preparatory Phase. Define the project’s vision and the role of NFTs within it. The details should be documented in a whitepaper, and should include:

• Tokenomics • Token Distribution • Pentattributes

• Audit and Security • Marketing Strategies

• Partnership (if any) • Roadmap • Project Team

• Legality (e.g., Disclaimers).

The tokenomics must unambiguously state the following three important details:

(i). The Tokenomics of the NFT and the Fungible Token (FT)

(ii). The relationship between the NFT and FT

(iii). What will be done with the FT at the end of the INO?

Step 2. Mint tokens for your Project

Based on the specifications of the whitepaper, the following activities are required for this step:

(a). The Project Developer will have to mint the stipulated number of Fungible Tokens for his NFT Project.

(b). The desired number of NFTs can be minted before or during the course of the INO.

Remember to structure the Pentattributes into your project before you start to mint. See Section 2 for more on Pentattributes.

Step 3: Pre-INO Community Building

This step involves creating a marketing presence and expectation prior to the commencement of the INO.

The official commencement date of the INO will need to be announced as awareness is being raised.

Remember that the idea here is to build engaged communities that will create intrinsic demand before launch and educate potential participants about the project.

Step 4: Launching the INO

On the announced date, the INO launch commenced with the sale of the Fungible Token. The Fungible Token is sold at a cheap presale price on a chosen launchpad, marketplace, or project’s own platform.

The sale should be structured into phases (e.g., Presale Phases 1 to 5). Each phase should have a specific number of Fungible Tokens to be given out within a specified duration.

EdaFace Launchpad (launchpad.edaface.com) provides a good platform for your INO launch.

Step 5: Post-INO Utility Activation

Once the Phases of the INO have concluded, immediately activate the promised post-INO activities as detailed in the whitepaper. These should include:

(a). Execute the Action Related to the Fungible Token.

You may choose either of the following two options as the pathway for the Fungible Token:

(i). Choose to List the Fungible token

You may list the Fungible Token after the INO. If you choose to list, it means that you will need to supply liquidity for trading. The money to provide the liquidity can be obtained from the Presales of the Fungible Token during the INO.

The advantage of listing is that you will now have a Fungible Token as well as an NFT in one project, giving

the project some variety.

However, note some disadvantages:

• You will be expected to keep advertising the Fungible Token as well as the NFT. This can cause a distraction for your NFT project, especially if you are new to the industry.

• Also, you will need funds to list the Fungible Token. This means any funds you raised from the INO Presale will have to be apportioned to both the listing of the fungible token as well as for the NFT development.

(ii). Choose Not to List the Fungible Token

You may choose not to list the Fungible Token. In this case, the Fungible Token is burnt off at the end of the INO.

The advantage of not listing the Fungible Token is that you will be focused exclusively on your NFT development with no distraction from promoting an additional Fungible Token.

In addition, any funds generated from the INO are directed solely to the NFT development.

(b). Implement the Actions About the NFTs

The actions related to the NFTs that will need immediate execution include:

(i). Issue the NFTs to Buyers of the FTs.

At the end of the INO or in the course of it (depending on the whitepaper stipulations), you will have to issue some of the NFTs to buyers of the Fungible Token.

This is often done in direct proportion to the amount used to buy the Fungible Token during the INO.

For example, a buyer who spends 1000 USD to buy the Fungible Token may get 10 times more copies of the NFT than a buyer who spends 100 USD.

(ii). Activate the Promised Utilities for the NFTs.

Once the Phases of the INO have concluded, immediately activate the promised utilities, such as staking access, rewards, exclusive areas, etc., as stated in the whitepaper.

Step 6: Long-term Ecosystem Integration

Your NFT Project should live on and perpetuate into the future.

This involves

(a). Enable trading on secondary markets.

(b). Use NFT holders as core ambassadors or beta-testers.

(c). Develop future token airdrops or loyalty benefits linked to NFT ownership.

That is, you may airdrop some of the Fungible Tokens, if they weren’t all burnt off in step 5, to attract attention to your NFTs. In addition, you may also airdrop some copies of the NFTs to attract more sales.

(d). Continue developing future utilities and keep advertising to bring in new buyers.