Non-Fungible Tokens (NFTs): A Review of Pricing Determinants, Applications and Opportunities

Kräussl, Roman; Tugnetti, Alessandro

doi:10.1111/joes.12597

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Non-Fungible Tokens (NFTs): A Review of Pricing Determinants, Applications and Opportunities

Kräussl, Roman; Tugnetti, Alessandro

2023 • In Journal of Economic Surveys

Peer Reviewed verified by ORBi

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https://hdl.handle.net/10993/51051

DOI
10.1111/joes.12597

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Keywords :

digital assets; NFT; pricing; valuation

Abstract :

[en] This paper provides a review of the development of the non-fungible tokens (NFTs) market, with a particular focus on its pricing determinants, its current applications, and its future opportunities. We investigate the current state of the NFT markets and highlight the perception and expectations of investors towards these products. We summarize and compare the financial and econometric models that have been used in the literature for the pricing of non-fungible tokens with a special focus on their predictive performance. We design a framework that can help to understand the price formation of NFTs. We further aim to shed light on the value creating determinants of NFTs in order to better understand investors’ behavior on the blockchain.

Precision for document type :

Review article

Disciplines :

Quantitative methods in economics & management

Author, co-author :

Kräussl, Roman ; University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Department of Finance (DF)

Tugnetti, Alessandro ; University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Department of Finance (DF)

External co-authors :

yes

Language :

English

Title :

Non-Fungible Tokens (NFTs): A Review of Pricing Determinants, Applications and Opportunities

Publication date :

08 November 2023

Journal title :

Journal of Economic Surveys

ISSN :

0950-0804

eISSN :

1467-6419

Publisher :

Wiley, Oxford, United Kingdom

Peer reviewed :

Peer Reviewed verified by ORBi

Focus Area :

Finance

Available on ORBilu :

since 18 May 2022

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Scopus citations^®
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