•Uses and Gratifications (U&G) theory is applied to NFT creators.•A mixed-method approach consisting of SEM and IMPA methods is used for analysis.•Content and reward gratification are strongly ...associated with NFT creation identification.•Social gratification helps to facilitate wider community identification.•Extrinsic reward and NFT creation identification grows stronger for creators with experience.
The advancing technologies of blockchain and Web 3.0 are transforming the decentralized nature of the Internet. Token-based services, particularly nonfungible tokens (NFTs), are innovative methods of performing financial transactions that have contributed to the growth of crypto commerce. Previous studies on NFT have focused on the role of investors, with a limited understanding of NFT creators. This study aims to provide a comprehensive examination of how NFT technology is utilized in cryptographic art by NFT creators. Based on the uses and gratifications (U&G) theory, the research utilizes a mixed-method approach combining in-depth interviews and online surveys of 1331 NFT creators from eight prominent NFT platforms. The results demonstrated that content and reward gratification were associated with NFT creation identification, whereas social gratification facilitated community identification. Both NFT and community identification facilitate consumption and creation behaviors. We also discussed theoretical and practical implications for stakeholders.
NFT gained widespread popularity in 2021, andworld museums are the ones that have taken an interestin it. It was due to the financial problems caused by theCOVID-19 pandemic. Creating an NFT of the ...museum’sartwork and its sale is to be one of the solutions. In thispaper, the Author analyses challenges and opportunitiesregarding the creation and sale of NFTs by museums inthe eyes of Article 9 of the Act on Museums. This artilesemphasizes selected opportunities and challenges, suchas the instability of the value of cryptocurrency, viewers’interest in NFTs, the correlation between the ownership ofan NFT and the museum’s artwork, and, last but not least,the equipment and staffing requirements. Before makingthe final decision, museums would have to face them. Thepenultimate part of the paper includes Polish museumprofessionals’ opinions on this topic.
•Studies three NFT markets.•A spillover index shows low spillover between cryptocurrencies and NFTs.•Wavelet coherence suggests some co-movement.
In early 2021, non-fungible tokens (NFT) became the ...first application of blockchain technology to achieve clear public prominence. NFTs are tradeable rights to digital assets (images, music, videos, virtual creations) where ownership is recorded in smart contracts on a blockchain. Given the NFT market emerged out of cryptocurrencies, we explore if NFT pricing is related to cryptocurrency pricing. A spillover index shows only limited volatility transmission effects between cryptocurrencies and NFTs. But wavelet coherence analysis indicates co-movement between the two sets of markets. This suggests that cryptocurrency pricing behaviours might be of some benefit in understanding NFT pricing patterns. However, the low volatility transmissions also indicate that NFTs can potentially be considered as a low-correlation asset class distinct from cryptocurrencies.
•Spillover effects between non-fungible tokens (NFTs) and NFT-affiliated tokens, between submarkets belonging to the same NFT, and between the same submarkets belonging to different NFTs are ...studied.•NFTs differ from their affiliated tokens due to limited spillover effects. Moreover, submarkets are distinct from other submarkets belonging to the same NFT and different NFTs.•Incorporating NFT-affiliated tokens and submarkets into NFT portfolio construction may help investors realise potential diversification benefits.
Since the beginning of 2021, non-fungible tokens (NFTs) have been in the spotlight. Cryptocurrencies play a vital role in the NFT market because they can be used to purchase NFTs. Specifically, the native cryptocurrency associated with the corresponding NFT is called an NFT-affiliated token. One may be interested in exploring the relationship between NFTs and their associated tokens. Through spillover analysis, we found limited spillovers between these two asset classes. In addition, there are multiple submarkets within an NFT and multiple submarkets of the same type across different NFTs. We conducted spillover analyses to examine the extent of shock transmission among these submarkets. Our results show that NFTs are distinct from cryptocurrencies and their associated tokens. Furthermore, there is limited spillover between submarkets belonging to the same NFT and across different NFTs. This demonstrates that effective risk management can be achieved through diversification by adding NFT-affiliated tokens and submarkets to a non-diversified NFT portfolio.
Non-fungible tokens (NFTs) are a highly nascent and emerging phenomenon revolutionizing how digital assets are traded. NFTs embody immutable rights to unique digital assets such as digital art and ...collectibles and are represented as digital tokens that can be traded across marketplaces utilizing blockchain technologies. NFTs engender new ways to organize, consume, move, program, and store digital information and have experienced a rapid rise in various adaptations across art, sports, broadcasting, content creation, and tech-crypto businesses. In this article, we define NFTs and look at how they fit with blockchain and cryptocurrencies, how they are used by various industries, and the opportunities and risks they present. Our key contribution is a conceptual map of an initial NFT ecosystem. In doing so, we provide relational mapping between and among key stakeholders: content creators, core and related technical and business intermediaries, consumers, investors, and speculators. We also highlight implications for managers and tie them to conceptual exploration and exploitation frameworks.
NFTs in Education Maria Cristina, Enache
Analele Universităţii "Dunărea de Jos" din Galaţi. Fascicula I, Economie şi Informatică aplicată,
12/2023, Letnik:
29, Številka:
3
Journal Article
Recenzirano
Odprti dostop
NFT could be used in the field of education, to transform the way of learning and teaching. This article presents some ways in which non-fungible tokens can be used in education and the benefits they ...offer to those involved in the e-learning process. Unique digital assets, abbreviated as NFT, as well as educational products used in the education sector could have a major impact, because in the field of education there is always a need for new approaches to cover the needs of new learners. The advent of non-fungible tokens (NFTs) has changed the way we look at how we educate and educate ourselves. NFTs are unique digital assets that cannot be replicated, making them perfect for the education sector.
The combination of blockchain technologies and the gaming industry has given rise to metaverses and play-to-earn games, which incorporate their own economy, commerce, and currencies, namely, ...metaverse and play-to-earn tokens. In this study, we analysed the performance and dynamics of 174 tokens, showing that this new crypto niche is characterised by (i) a positive performance in the long run, (ii) the absence of high co-movements with the cryptocurrency market, (iii) the emergence of bubbles, (iv) and the absence of high correlations with NFT features, such as number of transactions, sales and Google searches.
•We analysed the performance and dynamics of 174 metaverse and play-to-earn tokens.•We reported a positive long-run performance and weak correlations with the market.•There are signs of a new crypto bubble in this niche.•Play-to-earn and metaverse returns seem to be weakly correlated to NFT features.•We showed that COVID-19 did not affect this market segment negatively.
•We present the first analysis to date of the connectedness of returns for NFTs and other financial assets.•Overall connectedness increased during the COVID-19 crisis and the 2018 market crash.•NFTs ...are mainly independent of shocks from other assets classes.•Apart from NFTs, Ethereum transmits systemic risk during COVID-19 outbreak.•NFTs absorbed risk during the outbreak of COVID-19 similar to that of gold and the USD index.
In this paper, we analyze the connectedness between returns for non-fungible tokens (NFTs) and other financial assets (equities, bonds, currencies, gold, oil, Ethereum) during the period from January 2018 to June 2021. By using the Time-Varying Parameter Vector Autoregressions (TVP-VAR) approach, we show that the overall connectedness between the returns for financial assets increased during the COVID-19 period. Our static analysis shows that the behavior of the majority of NFT returns is attributable to endogenous shocks and only a small portion of this variation resulted from the impact of innovation in other assets. The results suggest that NFTs are mainly independent of shocks from common assets classes and even from their close relation, Ethereum. The dynamic analysis across time reveals that during normal times, NFTs act as transmitters of systemic risk to some degree, but during stressful times, their role shifts, and they act as absorbers of risk spillovers. This suggests that NFTs may have diversification benefits during turbulent times, as apparent during the COVID-19 crisis, and especially around the great March 2020 market plunge.
•First study of NFT pricing.•Studies pricing efficiency in an NFT of land in a virtual world.•Pricing does not yet appear to be efficient.
The current popularity of non-fungible token (NFT) markets ...is one of the most notable public successes of blockchain technology. NFTs are blockchain-traded rights to any digital asset; including images, videos, music, even the parts of virtual worlds. As a first study of NFT pricing, we explore the pricing of parcels of virtual real estate in the largest blockchain virtual world, Decentraland; an NFT simply termed LAND. We show a LAND price series characterised by both inefficiency and a steady rise in value.
In unserem Paper untersuchen wir das Metaverse aus drei verschiedenen Perspektiven: Gesellschaft, Nachhaltigkeit und Technologie. Der gesellschaftliche Teil erörtert die möglichen Auswirkungen des ...Metaverse auf die Gesellschaft, wie z. B. Veränderungen am Arbeitsplatz und die Entstehung neuer sozialer Strukturen. Der technische Teil konzentriert sich auf die technischen Grundlagen des Metaverse, mit einem Fokus auf Blockchain-Technologien, im Speziellen der Non-Fungible Tokens (NFTs). Der Abschnitt über Nachhaltigkeit behandelt die Auswirkungen aus ökologischer, ökonomischer und sozialer Sicht. Der Einsatz von Blockchain und NFTs hat die Diskussion um das Thema Metaverse seit Anfang der 2020er-Jahre massiv vorangetrieben. Hierbei werden zwei Arten von Metaverseansätzen unterschieden: dezentralisierte und communitybasierte versus zentralisierte kommerzielle Anwendungen. In unserer Arbeit heben wir die potenziellen Vorteile und Herausforderungen des Metaverse hervor und betonen die Notwendigkeit eines umfassenden Verständnisses der verschiedenen Perspektiven und Komponenten, um seine ethische Nutzung zu gewährleisten. Für uns ist es essenziell, dass Bildungseinrichtungen, die Player aus der Industrie – sowohl die großen Konzerne als auch Start- und Scale-Ups –, die Zivilgesellschaft und die Wissenschaft zusammenarbeiten, um ein Verständnis des Metaverse zu entwickeln. Dabei sollten öffentliche Diskussionen und Beteiligungsprozesse gefördert werden, um den gesellschaftlichen Dialog rund um das Metaverse zu intensivieren.
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