The aim of this paper is to explain what an Initial Coin Offerings is, describe its roots and characteristics, as well as to explore whether several potential influence factors had an impact on the success of so far completed Initial Coin Offerings, which had a predefined minimum required amount, the so called soft cap.

The structure of this paper is an introduction with background information, followed by a theoretical framework, where the author examines and defines the key aspects of the overall topic. Furthermore, the author will assess the Initial Coin Offering market and its development over the recent years. The second section of the paper includes an exploratory analysis of 40 completed Initial Coin Offerings which included a soft cap.

Neither the inclusion of a white paper or a road map, nor the availability of a presale or bonus scheme significantly contributed to the success of so far completed Initial Coin Offerings which included a soft cap.