on the publication serverTitle data
Knott, Manuel ; Strich, Franz ; Strunk, Kim ; Mayer, Anne-Sophie:
Uncovering potential barriers of using initial coin offerings to finance artistic projects.
In: Journal of Cultural Economics.
(8 April 2022)
.
ISSN 1573-6997
DOI: https://doi.org/10.1007/s10824-022-09446-7
Abstract in another language
Artists make vital contributions to our society and lay the foundations for billion-dollar industries. However, these artists consistently struggle to acquire sufficient funding for their projects and their livelihood. New technology-supported possibilities for funding artists and their projects have emerged in recent years. Initial Coin Offering (ICO) is a novel form of reward-based tokenized crowdfunding. Although ICOs are promising as a way to fund artistic projects, they lack widespread adoption in the creative and cultural industry (CCI). Based on 35 qualitative in-depth interviews, we identify four barriers that hinder the funding of artistic projects through ICOs: legal shortcomings, investment restrictions, lack of consumer interest, and intermediaries’ resistance. Our research contributes to cultural finance and funding literature by disclosing barriers that impede a promising form of financing artistic projects. Further, we outline possible solutions to overcome them. We also contribute to the research about ICOs by showing that rather than reducing investment risks, these offerings merely shift them.
Further data
| Item Type: | Article in a journal |
|---|---|
| Refereed: | Yes |
| Keywords: | Initial coin offerings; Blockchain technology; Artists; Cultural finance; Creative and cultural industries; Barriers |
| Institutions of the University: | Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Chair Business Administration with a focus on Human Resources and Intrapeneurship > Chair Business Administration with a focus on Human Resources and Intrapeneurship - Univ.-Prof. Dr. Rodrigo Isidor |
| Result of work at the UBT: | Yes |
| DDC Subjects: | 300 Social sciences > 330 Economics |
| Date Deposited: | 22 Apr 2022 05:32 |
| Last Modified: | 22 Apr 2022 05:32 |
| URI: | https://eref.uni-bayreuth.de/id/eprint/69298 |
