{"title":"On the role of provenance in NFT trades","authors":"Soogand Alavi , Ernan Haruvy , Ying Xie","doi":"10.1016/j.ijresmar.2024.10.008","DOIUrl":null,"url":null,"abstract":"<div><div><span><span>This study explores the role of provenance in bidding behavior in a blockchain marketplace for </span>NFTs. We analyze how the information inferred from the ownership chain of NFTs affects valuation. The products we study are a hybrid of consumption goods and collectibles, and so provenance is expected to manifest in both </span>use value (how the item is used) and collectible value (how the item can resell) inferred from the ownership chain. We conduct our empirical analysis using a trading dataset of an online card game on OpenSea, a blockchain marketplace for NFTs. We find that provenance of NFTs passes through past owners, dating back to the first owner, largely as collectible value in our context.</div></div>","PeriodicalId":48298,"journal":{"name":"International Journal of Research in Marketing","volume":"42 3","pages":"Pages 610-625"},"PeriodicalIF":7.5000,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Research in Marketing","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S016781162400096X","RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0
Abstract
This study explores the role of provenance in bidding behavior in a blockchain marketplace for NFTs. We analyze how the information inferred from the ownership chain of NFTs affects valuation. The products we study are a hybrid of consumption goods and collectibles, and so provenance is expected to manifest in both use value (how the item is used) and collectible value (how the item can resell) inferred from the ownership chain. We conduct our empirical analysis using a trading dataset of an online card game on OpenSea, a blockchain marketplace for NFTs. We find that provenance of NFTs passes through past owners, dating back to the first owner, largely as collectible value in our context.
期刊介绍:
The International Journal of Research in Marketing is an international, double-blind peer-reviewed journal for marketing academics and practitioners. Building on a great tradition of global marketing scholarship, IJRM aims to contribute substantially to the field of marketing research by providing a high-quality medium for the dissemination of new marketing knowledge and methods. Among IJRM targeted audience are marketing scholars, practitioners (e.g., marketing research and consulting professionals) and other interested groups and individuals.