Fintech Thrust Seminar | The Economics of Non-Fungible Token
Supporting the below United Nations Sustainable Development Goals:支持以下聯合國可持續發展目標：支持以下联合国可持续发展目标：
The Economics of Non-Fungible Token
Abstract:
Using all repeat sales of non-fungible tokens (NFT), we construct an NFT market index. The NFT market return is significantly exposed to the cryptocurrency market, but the explanatory power is small. Other cryptocurrency factors and factors from traditional asset markets have limited success in explaining NFT market returns. In the time-series, investor attention and an NFT valuation ratio significantly predict NFT market returns with large explanatory power. In the cross-section, NFT returns exhibit size and return reversal effects.
Yukun Liu is an Assistant Professor of Finance at the Simon Business School, University of Rochester. His primary research fields are asset pricing, Fintech, machine learning, and labor. Prior to joining Simon, he received his PhD in economics from Yale University, and BA in economics and mathematics from Cornell University.