The behavior of blockchain ventures on Twitter as a determinant for funding success

Albrecht, Simon; Lutz, Bernhard; Neumann, Dirk

doi:10.1007/s12525-019-00371-w

Cited by 45 publications

(31 citation statements)

References 85 publications

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“…Finally, Artificial intelligence has been applied as a research method in two articles. Albrecht et al (2020) combine a text mining approach on 144,942 tweets with a subsequent regression analysis to test their hypotheses on the effect of language, interactivity and frequency in communications about ICOs. Marella et al (2020) apply text modelling of 1.97 million discussion posts related to Bitcoin, using vector representations of words and documents and a neural network to identify semantic similarities.…”

Section: Methodsmentioning

confidence: 99%

Potential and limits of Blockchain technology for networked businesses

et al. 2020

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Section: Methodsmentioning

confidence: 99%

Potential and limits of Blockchain technology for networked businesses

et al. 2020

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“…ICOs represent a new fundraising method for blockchain startups based on the issuance of coins or tokens (Albrecht et al 2020). The inflationary use of the term "cryptocurrency" may confuse because all cryptology-based units, such as coins or tokens, are often summarized under this term.…”

Section: Initial Coin Offeringsmentioning

confidence: 99%

“…For the fundraising process, the emitting start-up usually publishes a whitepaper explaining the business model, the coin's technical approach, token creation, the type of blockchain used, and other information about features or functional details. In order to raise capital to finance its operations and product development, the tokens or coins created are issued via a platform in exchange for fiat or cryptocurrencies such as Ether or Bitcoin (Albrecht et al 2020;Alt 2020). Usually, the emitting start-up defines two financing targets: Firstly, the soft cap, a minimum target, which must be reached at least for the realization of the project.…”

Section: Initial Coin Offeringsmentioning

confidence: 99%

“…The components of an ICO exhibit typical characteristics of crowdfunding and an IPO (Albrecht et al 2020;Tönnissen et al 2020).…”

Section: Initial Coin Offeringsmentioning

confidence: 99%

“…For instance, Fisch (2019) exposed that venture characteristics are less relevant for the amount of funding in an ICO, but the underlying technology plays an essential role. Adhami et al (2018) discovered an impact of code availability, presales and specific services, such as profitsharing, on the probability of a successful ICO and Albrecht et al (2020) examined the power of social media on the market capitalization of an ICO.…”

Section: Introductionmentioning

confidence: 99%

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Initial coin offerings and the cryptocurrency hype - the moderating role of exogenous and endogenous signals

et al. 2021

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Initial coin offerings (ICOs) have recently emerged as a new financing instrument for entrepreneurial ventures, spurring economic and academic interest. Nevertheless, the impact of exogenous and endogenous signals on the performance of ICOs as well as the effects of the cryptocurrency hype and subsequent downfall of Bitcoin between 2016 and 2019 remain underexplored. We applied ordinary least squares (OLS) regressions based on a dataset containing 1597 ICOs that covers almost 2.5 years. The results show that exogenous and endogenous signals have a significant effect on the funds raised in ICOs. We also find that the Bitcoin price heavily drives the performance of ICOs. However, this hype effect is moderated, as high-quality ICOs are not pegged to these price developments. Revealing the interplay between hypes and signals in the ICO’s asset class should broaden the discussion of this emerging digital phenomenon.

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Giving coins for free: Does digital outsourcing of technical and advisory support influence the success of initial coin offerings (ICOs)?

Pierrakis,

Bhimireddy

2023

Strategic Change

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Initial coin offerings (ICOs) have emerged as a novel mechanism for financing entrepreneurial ventures. This relatively new application of blockchain technology allows a venture to raise money directly from the crowd by creating and selling its own coin or utility token in exchange for future use of this coin to purchase the services and products the venture is aiming to create. During the ICO ventures often use digital technologies to outsource services and build social capital. Despite the explosive growth of ICOs, little is known about the impact of these outsourcing strategies on the ICOs fundraising outcome. This paper presents explanatory research to better understand the role and potential impact of ICO strategies in outsourcing technical and advisory services by offering coins for free. More particularly, using data from 2081 ventures that sought to raise an ICO over the period 2016–2018, we examined the extent to which ventures can influence the likelihood of ICO success by adopting strategies aimed at outsourcing services and building social capital, namely by providing free coins to outsource expertise and by adapting social media campaigns. Findings suggest that although the use of professional social media platforms is associated with both ICO success and a higher level of fundraising, over‐generous outsourcing strategies had a negative impact on the ICO's likelihood to succeed.

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The behavior of blockchain ventures on Twitter as a determinant for funding success

Cited by 45 publications

References 85 publications

Potential and limits of Blockchain technology for networked businesses

Potential and limits of Blockchain technology for networked businesses

Initial coin offerings and the cryptocurrency hype - the moderating role of exogenous and endogenous signals

Giving coins for free: Does digital outsourcing of technical and advisory support influence the success of initial coin offerings (ICOs)?

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