The manuscript investigates whether the individual personality trait, Fear of Missing Out (FOMO)-typically considered negative-influences the willingness of individuals to contribute to Initial Coin Offerings (ICOs), a phenomenon that emerged after the blockchain revolution. We conducted both...

Abstract The high degree of asymmetric information in initial coin offerings (ICOs) increases the probability of moral hazard, adverse selection, and outright fraud. Token governance mechanisms may help mitigate such investment risks. Using novel data on token retention in the primary market and...