The Non-Fungible Token (NFT) Market and Its Relationship with Bitcoin and Ethereum

Ante, Lennart

doi:10.3390/fintech1030017

Cited by 152 publications

(57 citation statements)

References 34 publications

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“…There is a connection between NFT and cryptocurrency sales, and both markets promise perspectives and risks [32], [33]. A systematic study about the opportunities and challenges of NFTs was given in [34].…”

Section: A the Pyramid Schemementioning

confidence: 99%

Musings on the Metaverse and on how the Internet of Digital Reality Encompasses Future Developments of the Internet

Wersényi¹

2023

Infocommunications journal

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Internet of Digital Reality (IoD) is a concept that encompasses various aspects of the next level of communication between digital cognitive entities. Extending the concept of IoT and IoE, IoD includes all kinds of entities interacting in virtual reality, focusing not only on the technology, physical and logical networks, but also on cognitive aspects and human factors. The Metaverse – as a key element of IoD – was introduced and has lately been re-vitalized as a kind of vision for the future of the Internet, especially focusing on social media, where users interact via their avatars in a fully immersive VR scenario. In this paper, I nevertheless argue that IoD is more than a “VR Facebook”, and that although the Metaverse can offer a new kind of experience, it isn’t free from drawbacks and valid criticisms.

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Section: A the Pyramid Schemementioning

confidence: 99%

Musings on the Metaverse and on how the Internet of Digital Reality Encompasses Future Developments of the Internet

Wersényi¹

2023

Infocommunications journal

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“…Although studies [22] and [23] showed that volatility transmission effects between cryptocurrencies and NFTs are limited, Ante [24] revealed that a BTC price shock caused an increase in NFT sales. Furthermore, between BTC and Ethereum (ETH), a bidirectional relationship between returns and long-term spillovers was found.…”

Section: Extended Lppls Modelmentioning

confidence: 99%

Non-Fungible Token Bubble Prediction using Extended Log-Periodic Power Law Model

Okubo¹,

Ito²,

Shibano³

et al. 2023

Computer Science, Engineering and Applications

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Non-fungible token (NFT) bubbles are a problematic issue, and this study aims to predict NFT bubbles using an extended log-periodic power law singularity (LPPLS) model. The classic LPPLS model targets the endogenous nature of bubbles caused by the mimetic behavior of investors without external influences; however, the extended model attempts to incorporate exogenous influences. First, we compare the performance of the two models for NFT price prediction. The exogeneous variable in the extended model is cryptocurrency volatility. Then, we calculate the bubble confidence using both models. The results show that the explanatory power and forecasting accuracy of the extended model are superior in all projects. We also find that the bubble confidence indicator reinforces the results of bubble prediction.

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“…Some of the well-known ones used are Bitcoin (BTC) and Ethereum (ETH). Thus, transactions related to NFTs of various types do not use the real currency that we know today, instead, they use the cryptocurrencies (Ante, 2022).…”

Section: Tradabilitymentioning

confidence: 99%

Meta-Mortgaging: Islamic Law Review on Marhūn Issues

Muhammadi

Putranti

Praja

et al. 2022

JMH

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To this date, technology has seen massive development and, it influences the economic field. The emergence of the metaverse has become an inevitable part of this progress. It serves as a digital world, wherein everyone is able carry out a vast array of activities, including economic transactions. The emergence of digital assets, that has encouraged serious discussion, is inseparable from Islamic law. One of these digital assets is the Non-Fungible Token (NFT). This digital asset is the focus of this study, specifically on for its posibility to become material guarantees. This article employs a qualitative study and presented descriptively through the perspective of Islamic law. The result of this study is that the pledged-object (marhūn) has certain primary conditions for it to be functional, namely: it is a property, it has value, it can be traded, its asset value is clearly known, and it is actually owned by the guarantor (rāhin). The concept of marhūn as a valuable object ultimately answers that NFT is included in the marhūn category. However, since NFTs do not stand alone if the transaction currency used in the metaverse is cryptocurrencies, al-rahn transactions using NFTs become less favourable considering Cyrptocurrency is deemed to be haram.

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The Non-Fungible Token (NFT) Market and Its Relationship with Bitcoin and Ethereum

Cited by 152 publications

References 34 publications

Musings on the Metaverse and on how the Internet of Digital Reality Encompasses Future Developments of the Internet

Musings on the Metaverse and on how the Internet of Digital Reality Encompasses Future Developments of the Internet

Non-Fungible Token Bubble Prediction using Extended Log-Periodic Power Law Model

Meta-Mortgaging: Islamic Law Review on Marhūn Issues

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