Digital transformation: statistical evaluation of success factors of an ICO-campaign

P. 1–7.

Rasskazova, A., Koroleva, E., Rasskazov, S.

High rates of growth of the ICO market and its excess returns stipulate a significant
interest of investors to projects which use initial token allocation (ICO) for attracting
investments. This work takes into account the fact that even a potentially profitable project
may fail to collect the required amount of money and to start placing tokens on the stock
exchange. We are speaking about success of an ICO-campaign for fund raising. In order to
estimate the influence of factors and check the suggested research hypotheses, logistic
regression was used. The selection included 672 projects. As a dependent variable, the
proportion of the amount collected in the ICO process from the required value is selected.
Depending on the tested hypothesis the influencing variables took into account the presence of
a pre-sale stage and the bounty program and also the price of the token, the upper limit of fund
raising, the duration of the ICO-campaign and the number of team members. The work results
allow token emitters to substantiate managing the success of the ICO-campaign of the project
and the investors to see whether it deserves their attention. Besides, the obtained materials can
be useful for specialists in forming the legal framework of token transactions.

Keywords: инвестиции, investments, токен, блокчейн, финтех, fintech, Blockchain, криптовалюты, token, Initial Coin Offerings, Cryptocurrencies, ICO

In book

IOP Conference Series: Materials Science and Engineering, VOL 497

Т. 497. , IOP Publishing, 2019.