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Initial Coin Offerings (ICOs) are a novel form of crowdfunding through which hundreds of blockchain-enabled businesses manage to raise billions of dollars in total only in United States. However, there is a lack of understanding of the ICO phenomenon especially related to the business aspects. In this paper, we describe the results of an exploratory study of 91 ICOs and identify the key business model elements that ICOs reveal in their websites and whitepapers. Furthermore, we also note the immaturity and lack of transparency of the business aspects of businesses behind the ICO campaigns.<\/jats:p>","DOI":"10.1007\/978-3-030-58858-8_5","type":"book-chapter","created":{"date-parts":[[2020,9,23]],"date-time":"2020-09-23T18:02:34Z","timestamp":1600884154000},"page":"41-49","update-policy":"https:\/\/doi.org\/10.1007\/springer_crossmark_policy","source":"Crossref","is-referenced-by-count":1,"title":["What Key Aspects Do ICOs Reveal About Their Businesses?"],"prefix":"10.1007","author":[{"given":"Gabriella","family":"Laatikainen","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Alexander","family":"Semenov","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Yixin","family":"Zhang","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Pekka","family":"Abrahamsson","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"297","published-online":{"date-parts":[[2020,9,24]]},"reference":[{"key":"5_CR1","doi-asserted-by":"crossref","unstructured":"Fenu, G., Marchesi, L., Marchesi, M., Tonelli, R.: The ICO phenomenon and its relationships with Ethereum smart contract environment. 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