# Ico market

`kaal:entity:ico-market`

**Status.** derived

This node is assembled mechanically from the 4 claims that carry the concept tag `ico-market`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

4 claims across 2 works, 2019 to 2021.

**2019**

- [3406323-004](https://wulfkaal.github.io/claims/3406323-004) [empirical/evidenced] -- The ICO share of total blockchain startup fundraising collapsed from about 80% to roughly 35% by August 2018, recovered only marginally to 40% to 50% through February 2019, and then fell to 20% in March 2019.
  > The percentage of ICOs in relation to total fundraising of blockchain startups dropped from 80% to around 35% in August 2018 and only marginally recovered between September 2018 and February 2019 at around 40% to 50% before dropping to 20% in March 2019.
  Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019). SSRN: https://ssrn.com/abstract=3406323
- [3406323-005](https://wulfkaal.github.io/claims/3406323-005) [mechanism/argued] -- ICOs changed the venture funding market because they provide investors liquidity far faster than the traditional venture capital path to a late IPO or acquisition, letting venture funds capitalize on profits early.
  > By contrast, ICOs provide liquidity to investors much faster and allow venture capital funds to capitalize on existing profits early.
  Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019). SSRN: https://ssrn.com/abstract=3406323
- [3406323-006](https://wulfkaal.github.io/claims/3406323-006) [empirical/asserted] *(failure mode)* -- During the ICO boom years the venture capital market in the decentralized technology sector ground to a halt, and the later demise of the ICO market reversed the trend back toward venture funding.
  > During the ICO boom years, the venture capital market in the decentralized technology sector ground to a halt.
  Wulf A. Kaal, Decentralization - A Primer on the New Economy (2019). SSRN: https://ssrn.com/abstract=3406323

**2021**

- [3808852-022](https://wulfkaal.github.io/claims/3808852-022) [empirical/evidenced] -- The ICO share of blockchain startup fundraising collapsed from 80 percent to around 35 percent by August 2018, recovered only marginally to 40 to 50 percent between September 2018 and February 2019, and then fell to 20 percent in March 2019.
  > The percentage of ICOs in relation to total fundraising of blockchain startups dropped from 80% to around 35% in August 2018 and only marginally recovered between September 2018 and February 2019 at around 40% to 50% before dropping to 20% in March 2019.
  Wulf A. Kaal, Decentralization and Feedback Effects (2021). SSRN: https://ssrn.com/abstract=3808852

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/ico-market.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.