INITIAL COIN OFFERINGS (ICOs): A COMPREHENSIVE REVIEW on START-UP FIRMS

Abstract

In this study, the theoretical framework of the ICO concept, which is one of the newest and most discussed topics in the financial world, is examined. ICO meaning, basic characteristics of the ICO, the ICO process, ICO participants, its advantages and disadvantages, the determinant factors of success of the ICOs performed up to date, the risks waiting for the investors and the differences between IPO and ICO are comprehensively analyzed. All ICOs realized are examined comparatively and critical success factors are tried to be determined. The aim of this study is to make this subject better understood by market participants and to give insights to other following studies in the academic world