Investment Decision Factors of Non-Fungible Tokens in the Czech Republic: Survey

Tichý Kryštof ()
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Tichý Kryštof: Technical University of Liberec, Faculty of Economics, Department of Finances and Accounting, Studentská 1402/2, 461 17 Liberec, Czech Republic

ACC Journal, 2024, vol. 30, issue 2, 63-75

Abstract: Non-fungible Tokens (NFTs), represent a revolution in the digital ownership paradigm. NFTs are a kind of digital asset built on blockchain technology, most commonly the Ethereum blockchain, that validate the uniqueness and ownership of a unique digital item in question. Each NFT carries specific information or attributes that make it original and non-fungible. Unlike cryptocurrencies like Bitcoin or Ethereum, which are identical to each other, non-fungible tokens cannot be exchanged on a like-for-like basis making them non-fungible. NFTs are traded for cryptocurrencies via online trading platforms. Investment in NFTs can present a risky situation due to the large volatility of the assets in a quite short time. This article focuses on identification of key aspects that influence decision making process of potential investors who are considering buying non-fungible tokens as an investment tool in the Czech Republic. From the point of view of investment decision-making, the primary factors appear to be the expected income from the investment, its payback period, and the risk that the investor undertakes. It has been proven that there is a degree of dependence between gender and the mentioned decision-making factors. The research showed that men are more inclined to make decisions based on expected returns, while women are more likely to make decisions based on perceived risk.

Keywords: Non-fungible tokens; Intangible assets; Crypto assets; Investment; Investment decision process (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:accjnl:v:30:y:2024:i:2:p:63-75:n:1004

DOI: 10.2478/acc-2024-0007

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