The Impact of the Founding Team’s Human Capital on Token Sale Success: An analysis of European ICOs between 2016-2021
The emergence of blockchain technology enables entrepreneurs to raise capital in an innovative way, by addressing a crowd of online investors without the need for an intermediary. This phenomenon is known as token sales, and it may have the potential to revolutionize entrepreneurial finance. However, information asymmetry is particularly severe in this context, and the need for entrepreneurs to se
