# kaal:claim:3962614-013

**Claim.** Traditional VCs often cannot effectively compete with the ever increasing array of decentralized token offering avenues.

**Type.** failure  **Support.** asserted

**Holds when.**

- digital asset fundraising markets

**Source quote.**

> Moreover, traditional VCs often cannot effectively compete with the ever-increasing array of decentralized token offering avenues.

**From.** Wulf A. Kaal, *REPUTATION AS CAPITAL – How Decentralized Autonomous Organizations Address Shortcomings in the Ventu* (2021), II.2. Digital Asset VC Market, page 10

**Cite as.** Wulf A. Kaal, REPUTATION AS CAPITAL – How Decentralized Autonomous Organizations Address Shortcomings in the Ventu (2021). SSRN: https://ssrn.com/abstract=3962614

**Verify.** sha256 of source PDF `c6e202e77fd08db801f932774026458b94e5d103abf30cb1189fe6a1c5edf391` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202021%20-%20REPUTATION%20AS%20CAPITAL%20%E2%80%93%20How%20Decentralized%20Autonomous%20Organizations%20Address%20Shortcomings%20in%20the%20Ventu.pdf

**Failure mode.** VC competitive displacement by token offerings  (family: transition-and-migration-risk)

**Topics.** securities-law, tokenomics, economics, decentralization

**Keywords.** token-offerings, vc-competition, decentralized-funding, digital-assets

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.