{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/crowdfunding",
 "identifier": "kaal:entity:crowdfunding",
 "name": "Crowdfunding",
 "termCode": "crowdfunding",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/crowdfunding.md",
 "sha256": "35b19ba0dd4f60f933f266d1afdde9018a2149818daf0dc93db939f19ea472d9",
 "additionalProperty": [
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   "@type": "PropertyValue",
   "name": "status",
   "value": "derived"
  },
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   "name": "claim_count",
   "value": 5
  },
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   "value": 4
  },
  {
   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2017",
    "2021"
   ]
  },
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   "value": 0
  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3002908-039",
   "identifier": "kaal:claim:3002908-039",
   "text": "Initial coin offerings have overtaken venture capital as a funding channel for blockchain start ups, raising 331 million dollars in twelve months, and may become an alternative funding method for traditional companies as well.",
   "abstract": "Started as a phenomenon that is revolutionizing the way start-up companies investing in blockchain raise capital (in the last 12 months ICOs have raised $331 million, overtaking venture capitalists' investments),157 it may become an alternative method for many traditional companies.",
   "citation": "Wulf A. Kaal, Marco Dell'Erba, Blockchain Innovation in Private Investment Funds - A Comparative Analysis of the United States and (2017). SSRN: https://ssrn.com/abstract=3002908",
   "datePublished": "2017",
   "claim_type": "predictive",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "twelve month window reported as of mid 2017"
   ],
   "source_pdf_sha256": "06a7b61e75f905ee07e422e875d83a65c5033a248a6e05a213523b034e5db534",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3067615-003",
   "identifier": "kaal:claim:3067615-003",
   "text": "ICOs cannot be qualified as donations and are therefore distinguishable from crowdfunding, because ICO participants acquire a financial stake in the company and, as the case may be, a right to vote on future decisions.",
   "abstract": "Unlike crowdfunding, ICOs involve a financial stake in the company including, as the case may be, the right to vote on future decisions. Therefore, ICOs cannot be qualified as a donation.",
   "citation": "Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615",
   "datePublished": "2017",
   "claim_type": "definitional",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "comparison of ICOs to crowdfunding platforms such as Kickstarter"
   ],
   "source_pdf_sha256": "164ce15b9eb1e8847ebcb073f5b23a96b4974ad0308d77469a9455d4a1ebeb38",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3227933-031",
   "identifier": "kaal:claim:3227933-031",
   "text": "The DAO raised more than 150 million dollars from approximately 10,000 investors through a crowdfunding campaign in May 2016, with DAO Tokens designed to be fully transferable and tradable on peer-to-peer exchanges like shares in a listed corporation.",
   "abstract": "The DAO raised more than $150 million from approximately 10,000 \"investors.\" Like shares in a traditional listed corporation, DAO Tokens were designed to be fully transferable and tradable on \"peer-to-peer\" exchanges.",
   "citation": "Mark Fenwick, Wulf A. Kaal, Erik P.M. Vermeulen, Why 'Blockchain' Will Disrupt Corporate Organizations (2018). SSRN: https://ssrn.com/abstract=3227933",
   "datePublished": "2018",
   "claim_type": "empirical",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "the DAO token sale, May 2016"
   ],
   "source_pdf_sha256": "a9e9660c4dc25a2202f1da4e762f5885256e05f68c53ca51942f5833a7a4c108",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3962614-016",
   "identifier": "kaal:claim:3962614-016",
   "text": "Alternative early round funding methods matter because they get entrepreneurs over the VC investment threshold or help them bypass the VC model completely.",
   "abstract": "These alternative funding methods are important to get entrepreneurs over the VC investment threshold, or to help entrepreneurs completely bypass of the VC model.",
   "citation": "Wulf A. Kaal, REPUTATION AS CAPITAL – How Decentralized Autonomous Organizations Address Shortcomings in the Ventu (2021). SSRN: https://ssrn.com/abstract=3962614",
   "datePublished": "2021",
   "claim_type": "mechanism",
   "confidence": "evidenced",
   "is_failure_mode": false,
   "scope_conditions": [
    "technology entrepreneurs below the VC investment threshold"
   ],
   "source_pdf_sha256": "c6e202e77fd08db801f932774026458b94e5d103abf30cb1189fe6a1c5edf391",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3962614-021",
   "identifier": "kaal:claim:3962614-021",
   "text": "Alternative early round funding methods frequently fail to provide adequate funding to fully launch a new company, and a significant number of tech startups that rely exclusively on these methods fail.",
   "abstract": "these methods frequently fail to provide adequate funding to fully launch a new company. A significant number of tech startups that rely exclusively on these methods fail.",
   "citation": "Wulf A. Kaal, REPUTATION AS CAPITAL – How Decentralized Autonomous Organizations Address Shortcomings in the Ventu (2021). SSRN: https://ssrn.com/abstract=3962614",
   "datePublished": "2021",
   "claim_type": "failure",
   "confidence": "evidenced",
   "is_failure_mode": true,
   "scope_conditions": [
    "startups relying exclusively on alternative early round funding"
   ],
   "source_pdf_sha256": "c6e202e77fd08db801f932774026458b94e5d103abf30cb1189fe6a1c5edf391",
   "status": "current"
  }
 ],
 "description": "5 claims in the published works of Wulf A. Kaal carry the concept tag 'crowdfunding'. Derived node: a roster, not an adjudicated definition."
}