Success Factors of Crowdfunding with Initial Coin Offerings - an Exploratory Analysis

Abstract

The present study analyses differences between crowdfunding success factors with Initial Coin Offerings (ICOs) in times of buzz (''hype'') among the success factors identified during ICO ``hype'' periods. For this purpose, existing work was examined and compared with a current primary data as well as a current secondary data collection. The results make it clear that in times following the hype of ICOs, the signals of the entrepreneur to the potential investor are necessary through further signals from third parties to reinforce and mitigate the information asymmetry.