Platform building in initial coin offering market: Empirical evidence

Zenu Sharma and Yun Zhu

Pacific-Basin Finance Journal, 2020, vol. 61, issue C

Abstract: This paper looks into various factors that contribute to the platform building of the blockchain companies. We empirically investigate over 8000 blockchain companies and show supportive evidence that due to the heterogeneity of needs for trust, privacy, transparency and integrity, industries vary in their choice for adopting permissioned versus permissionless blockchain platform, and their choice of using an airdrop offering versus conducting native ICO offering. We further show that ICO offering size, start bonus, VC backing, and social media are related to the success of ICO offering, the offer price, and post-ICO performance.

Keywords: FinTech; ICO; Platform building (search for similar items in EconPapers)
JEL-codes: G19 G24 O39 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:pacfin:v:61:y:2020:i:c:s0927538x2030086x

DOI: 10.1016/j.pacfin.2020.101318

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