A Study on the Hedging and Safe-Haven Features of Non-fungible Tokens Segments

IF 1.2 Q3 BUSINESS, FINANCE

Journal of Emerging Market Finance Pub Date : 2024-07-25 DOI:10.1177/09726527241257359

Emiliya James, Parthajit Kayal, Moinak Maiti, G. Balasubramanian

引用次数: 0

Abstract

This study examines the hedging and safe-haven characteristics across the various segments of non-fungible tokens (NFTs). It adopts the case study approach to blend the key study findings on the risk and return aspects of different NFT segments. The study finds that various segments of NFTs have mixed levels of correlations with traditional financial assets. Online games and metaverse segments of NFTs display a link to the crypto assets. Similarly, only the metaverse segment shows an association with the market sentiment. Art, online games, and collectibles segments within the NFTs space show mixed levels of hedging. However, all NFT segments under consideration show ambiguous safe-haven facets. Overall, the present study highlights some of the important aspects to consider while investing in the different segments of NFTs with respect to portfolio optimization, market dynamics, and risk management.JEL Codes: C12, C13, J64

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关于不可流通代币区块的套期保值和避险功能的研究

本研究探讨了不可兑换代币（NFTs）各细分市场的对冲和避险特征。它采用案例研究法，将不同非流动代币细分市场的风险和收益方面的主要研究结果融合在一起。研究发现，非风化代币的各个细分市场与传统金融资产的相关程度不一。网络游戏和元宇宙细分市场与加密资产之间存在联系。同样，只有元宇宙部分显示出与市场情绪的关联。艺术品、网络游戏和收藏品在 NFT 领域的对冲程度参差不齐。然而，所考虑的所有 NFT 部分都显示出模糊的避险面。总体而言，本研究强调了在投资不同细分领域的 NFT 时，在投资组合优化、市场动态和风险管理方面需要考虑的一些重要方面：C12, C13, J64

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Emerging Market Finance BUSINESS, FINANCE-

CiteScore

1.80

自引率

33.30%

发文量

期刊介绍： The Journal of Emerging Market Finance is a forum for debate and discussion on the theory and practice of finance in emerging markets. While the emphasis is on articles that are of practical significance, the journal also covers theoretical and conceptual aspects relating to emerging financial markets. Peer-reviewed, the journal is equally useful to practitioners and to banking and investment companies as to scholars.