Crypto Rewards in Fundraising: Evidence from Crypto Donations to Ukraine

  title={Crypto Rewards in Fundraising: Evidence from Crypto Donations to Ukraine},
  author={Jane Tan and Yong Tan},
Extrinsic incentives such as a conditional thank-you gift have shown both positive and negative impacts on charitable fundraising. Leveraging the crypto donations to a Ukrainian fundraising plea that accepts Ether (i.e., the currency of the Ethereum blockchain) and Bitcoin (i.e., the currency of the Bitcoin blockchain) over a seven-day period, we analyze the impact of crypto rewards that lasted for more than 24 hours. Crypto rewards are newly minted tokens that are usually valueless initially… 

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