Non-Fungible Token Artworks : More Crypto than Art?
Non-Fungible Tokens (NTFs) artworks are increasingly traded. In this paper, we first investigate whether the market for crypto-art is informationally efficient and, secondly, if crypto-art can be considered as an alternative to real-world art rather than a haven for crypto-money speculative traders. We find evidence of market inefficiency with long-lasting autoregressive patterns in price discovery. We also find that crypto art is unrelated to real-world art. Crypto-art prices are mostly determined by changes in the cryptocurrency of denomination. We conclude that crypto-art is far from being another medium to express artistic content and is just a storing unit for cryptomoney
Year of publication: |
2022
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Authors: | Petrella, Giovanni ; Anselmi, Giulio |
Publisher: |
[S.l.] : SSRN |
Saved in:
freely available
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