An Investigation of Factors Determining the Token Value in the Blockchain-based Early Funding Mechanism

Abstract

ICOs are simply considered an alternative to the already existing methods of funding as are, for instance, Venture capitalists or conventional crowdfunding. [...]the major part of ICOs has the listing stage, which has attracted high interest from both investors and traders. A lot of attention was paid also to the assumption testing, qualitative data collection, and dataset suitability verification. [...]the dataset consists of the dependent variable (total funds raised) and three groups of independent variables: financial aspects, technical aspects, and ICO characteristics. The last part represents the results of the investigation and provides consideration of the research findings, highlighting also the limitations of the research. 1 Background and literature review The digital transformation of the company is not only focused on the new technology, but also relates to the changes in the company business models, structure, and processes (Tomat & Trkman, 2019). [...]ICOs might be considered one of the ways for the company's digitalization. [...]all ICOs are executed by using blockchain technology and are initially launched to fund technology-based projects.