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When investing in blockchain-based crowdfunding campaigns, choosing the right one is difficult. Therefore, it is important to recognize success factors that express the value of the specific campaign. This study is aimed at determining the success factors impacting the investors’ decision to fund blockchain-based crowdfunding campaigns and ranking them according to their importance in decision-making. An online survey was employed to collect expert opinions. The modification of the visual analogue scale matrix for criteria weighting methodology called VASMA-L was presented in this study to rank the list of the predetermined factors. To reduce the uncertainties in the decision-making process and the cognitive overload of the survey respondents, all the predetermined success factors were split into two smaller groups and assessed as those that fit both traditional and blockchain-based crowdfunding models and those that are specific only to the blockchain-based crowdfunding model. The main findings disclose that the three factors with the highest VASMA weights are from the first group. This means that when selecting the specific crowdfunding campaign to invest in, investors use common factors rather than those specific to blockchain-based crowdfunding. Only investor preferences were chosen and analyzed for successful blockchain-based crowdfunding campaign investment in this research. The VASMA-L methodology might help compare several criteria groups and select the most important ones. In addition, this weighting methodology might help investors to choose the most thrilling blockchain-based crowdfunding campaigns to fund. Full article

When investing in crowdfunding projects, every investor has some difficulties in selecting the right one. The most important issue is choosing criteria that show the value of the specific project. The aim of this study was to determine which of the criteria are the most important for investors when selecting various crowdfunding projects to fund. A visual analogue scale matrix for criteria weighting (VASMA weighting) methodology was used to determine the main criteria that affect investors’ decisions to invest. The VASMA methodology can capture both objective and subjective parts of criteria weighting. In addition, the risk factor was considered a success driver of crowdfunding projects. The main findings reveal that the criteria of the three risk groups have the highest weights of the VASMA weighting methodology. In this research, only investor preferences were chosen and analyzed for successful crowdfunding project investment. The VASMA weighting methodology’s criteria ranking might help investors select the most exciting crowdfunding project to fund. Full article

Data symmetry and asymmetry might cause difficulties in various areas including criteria weighting approaches. Preference elicitation is an integral part of the multicriteria decision-making process. Weighting approaches differ in terms of accuracy, ease of use, complexity, and theoretical foundations. When the opinions of the wider audience are needed, electronic surveys with the matrix questions consisting of the visual analogue scales (VAS) might be employed as the easily understandable data collection tool. The novel criteria weighting technique VASMA weighting (VAS Matrix for the criteria weighting) is presented in this paper. It respects the psychometric features of the VAS scales and analyzes the uncertainties caused by the survey-based preference elicitation. VASMA weighting integrates WASPAS-SVNS for the determination of the subjective weights and Shannon entropy for the calculation of the objective weights. Numerical example analyzing the importance of the criteria that affect parents’ decisions regarding the choice of the kindergarten institution was performed as the practical application. Comparison of the VASMA weighting and the direct rating (DR) methodologies was done. It revealed that VASMA weighting is able to overcome the main disadvantages of the DR technique—the high biases of the collected data and the low variation of the criteria weights. Full article