Price determinants of non-fungible tokens in the digital art market

【Author】 Horky, Florian; Rachel, Carolina; Fidrmuc, Jarko

【Source】FINANCE RESEARCH LETTERS

【影响因子】9.848

【Abstract】While the traditional art market stagnates, the digital art market is booming partially due to its connection with non-fungible tokens, which allow any unique goods to be mapped in a digital environment. Using unique individual data from the online art NFTs marketplace SuperRare, we combine econometric tools with recent machine learning approaches. This approach allows us to define explanatory variables out of the NFTs descriptions for our Hedonic pricing approach. Using these variables, we are able to show that our Hedonic pricing models exhibit relevant informational value for NFTs prices. Moreover, we show that NFTs cannot be viewed as a simple derivative of cryptocurrencies.

【Keywords】Digital art; Non-fungible tokens; Hedonic prices; Lasso regression

【发表时间】2022 AUG

【收录时间】2022-08-15

【文献类型】理论模型

【主题类别】

区块链应用-虚拟经济-NFT