Fertile LAND: Pricing non-fungible tokens

Michael Dowling

Finance Research Letters, 2022, vol. 44, issue C

Abstract: 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.

Keywords: NFT; Non-fungible tokens market efficiency (search for similar items in EconPapers)
JEL-codes: G12 G14 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (63)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:44:y:2022:i:c:s154461232100177x

DOI: 10.1016/j.frl.2021.102096

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