Element Group Releases New Research on Impact of ICO Bounty Campaigns | Business & Finance
SANTA MONICA, Calif.–(BUSINESS WIRE)–Jul 10, 2018–Element Group, a full-service advisory firm for the digital token capital markets, today released a newly published report indicating that a positive correlation exists between the size of a bounty campaign and the amount raised in an initial coin offering (ICO) sale.
In late 2017, ICO bounty campaigns emerged as strategies to create additional exposure for blockchain projects and to broaden investor reach following token generation events. Element Group analyzed data from 164 offerings that utilized bounty campaigns to better understand their impact on fundraising activities. Using data from ICOBench to analyze ICOs completed within the past year, Element Group considered additional information, including hard cap, amount raised, price per token and ICOBench rating. Bounty campaign volume in both tokens and fiat were also taken into account.
“Using stratified sampling to achieve high statistical precision, we found that a $1 increase in bounty campaign volume predicts between an $8 and $15 increase in the final amount raised,” said Kevin Lu, Director of Quantitative Research at Element Group. “Naturally the size of a project dictates the commitment to the bounty as well as the amount raised in the token sale, but interestingly, even when controlling for these and other factors, the aggregate effect of a bounty campaign on the overall amount raised in a token sale is still significant.”
“As the ICO landscape continues to shift away from the massive main sale model that was prevalent in 2017, it is increasingly essential to understand and analyze token sale models that work best in today’s evolving crypto landscape,” said Stan Miroshnik, CEO and Co-Founder of Element Group. “Our research on the adoption and impact of ICO bounty campaigns will help to better inform and advise participants in the digital asset space as they determine strategies that best position them for success.”
Element Group is a full-service advisory firm for the digital token capital markets that delivers advisory, capital markets, technology and asset management services in an integrative manner. Element manages investor and client funds on a non-discretionary basis, investing in promising emerging protocol and dApp technologies and utility driven crypto-currencies. Element also executes token sales and ICOs and supports market-leading transactions with technology, bridging the gap between token buyers and issuers, and delivering thought leadership on structuring and process.
Anna Bogdanova, +34636660873
Jaimee Pavia, 212-279-3115
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY INTERNET SOFTWARE SECURITY PROFESSIONAL SERVICES BANKING FINANCE
Copyright Business Wire 2018.
PUB: 07/10/2018 10:42 AM/DISC: 07/10/2018 10:42 AM
Copyright Business Wire 2018.
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