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Exploring markets: Non-Fungible Token

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  • Weber, Daniel

Abstract

Exploring Markets" is a paper series discussing niche markets with interesting characteristics. The paper on hand focuses on the market for Non-Fungible Token (NFT) which are transferrable rights of ownership to unique digital assets. NFTs are based on blockchain technology and are traded with cryptocurrencies primarily on specialized marketplaces. In 2021 record breaking auctions of expensive NFTs got mainstream attention, whereas a decreasing trade volume at the start of 2022 might indicate challenges in market adoption for this new technology. The paper discusses specific characteristics of NFTs, use cases and associated problems.

Suggested Citation

  • Weber, Daniel, 2022. "Exploring markets: Non-Fungible Token," IU Discussion Papers - Business & Management 2 (April 2022), IU International University of Applied Sciences.
    • Handle: RePEc:zbw:iubhbm:2april2022
    as

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    File URL: https://www.econstor.eu/bitstream/10419/252278/1/179951966X.pdf
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    References listed on IDEAS

    as
    1. Friedhelm Victor & Andrea Marie Weintraud, 2021. "Detecting and Quantifying Wash Trading on Decentralized Cryptocurrency Exchanges," Papers 2102.07001, arXiv.org.
    2. Matthieu Nadini & Laura Alessandretti & Flavio Di Giacinto & Mauro Martino & Luca Maria Aiello & Andrea Baronchelli, 2021. "Mapping the NFT revolution: market trends, trade networks and visual features," Papers 2106.00647, arXiv.org, revised Sep 2021.
    3. Pennec, Guénolé Le & Fiedler, Ingo & Ante, Lennart, 2021. "Wash trading at cryptocurrency exchanges," Finance Research Letters, Elsevier, vol. 43(C).
    4. Max J. Krause & Thabet Tolaymat, 2018. "Quantification of energy and carbon costs for mining cryptocurrencies," Nature Sustainability, Nature, vol. 1(11), pages 711-718, November.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Market Study; NFTs; Non-Fungible Token;
    All these keywords.

    JEL classification:

    • Z19 - Other Special Topics - - Cultural Economics - - - Other

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