ABSTRACT
We test the hedge property of non-fungible token (NFT) coins against equity market fluctuations and compare it with the hedge property of Bitcoin. We employ daily the returns of Bitcoin;three NFT coins, namely Theta, Enjin Coin and Decentraland, and three equity market indices: S&P 500, NASDAQ and CAC 40, ranging from 18 January 2018 to 12 January 2021. We estimate the hedge effectiveness of the three NFT coins and Bitcoin against stock market fluctuations. Our results suggest that NFT coins are a better hedge against equity market fluctuations than Bitcoin.
ABSTRACT
Non Fungible Tokens (NFT) and Decentralized Finance (DeFi) assets have seen a growing media coverage and garnered considerable investor traction despite being classified as a niche in the digital financial sector. The lack of substantial research to demystify the dynamics of NFT and DeFi coins motivates the scrupulous analysis of the said sector. This work aims to critically delve into the evolutionary pattern of the NFTs and DeFis for performing predictive analytics of the same during the COVID-19 regime. The multivariate framework comprises the systematic inclusion of explanatory features embodying technical indicators, key macroeconomic indicators, and constructs linked to media hype and sentiment pertinent to the pandemic, nonlinear feature engineering, and ensemble machine learning. Isometric Mapping (ISOMAP) and Uniform Manifold Approximation and Projection (UMAP) techniques are conjugated with Gradient Boosting Regression (GBR) and Random Forest (RF) for enabling the predictive analysis. The predictive performance rationalizes the frameworks' capacity to accurately predict the prices of the majority of the NFT and DeFi coins during the ongoing financial distress period. Additionally, Explainable Artificial Intelligence (XAI) methodologies are used to comprehend the nature of the impact of the explanatory variables. Findings suggest that the daily movement of the NFTs and DeFi highly depends on their past historical movement. © 2023 The Authors
ABSTRACT
Non-fungible tokens (NFTs) have garnered attention from investors and the general public. This pioneering study analyzes the connectedness of five NFT segments by employing the TVP-VAR based connectedness approach of Antonakakis et al. (2020) to identify the transmitter and receivers of spillover for both return and volatility of NFT segments. Our results show that Utility NFTs are the main transmitter of spillover, whereas the collectible NFTs are the main recipient of spillover for both return and volatility. Our findings have important implications for both investors and policy makers. (c) 2022 Elsevier B.V. All rights reserved.
ABSTRACT
Non Fungible Tokens (NFT) and Decentralized Finance (DeFi) assets have seen a growing media coverage and garnered considerable investor traction despite being classified as a niche in the digital financial sector. The lack of substantial research to demystify the dynamics of NFT and DeFi coins motivates the scrupulous analysis of the said sector. This work aims to critically delve into the evolutionary pattern of the NFTs and DeFis for performing predictive analytics of the same during the COVID-19 regime. The multivariate framework comprises the systematic inclusion of explanatory features embodying technical indicators, key macroeconomic indicators, and constructs linked to media hype and sentiment pertinent to the pandemic, nonlinear feature engineering, and ensemble machine learning. Isometric Mapping (ISOMAP) and Uniform Manifold Approximation and Projection (UMAP) techniques are conjugated with Gradient Boosting Regression (GBR) and Random Forest (RF) for enabling the predictive analysis. The predictive performance rationalizes the frameworks' capacity to accurately predict the prices of the majority of the NFT and DeFi coins during the ongoing financial distress period. Additionally, Explainable Artificial Intelligence (XAI) methodologies are used to comprehend the nature of the impact of the explanatory variables. Findings suggest that the daily movement of the NFTs and DeFi highly depends on their past historical movement.
ABSTRACT
Although NFTs (non-fungible tokens) and cryptocurrencies are active on the same market, their prices are not so closely related over time. The objective of this paper is to identify the relationship between the two types of assets (NFTs and the cryptocurrencies Ethereum, Crypto Coin, and Bitcoin), using data for the period between September 2020 until February 2022. The conclusions of the study are useful for cryptocurrency and NFT issuers, but also for investors on the financial market who are reconfiguring their portfolios with increasing frequency, and use these new assets for speculative or hedging purposes based on blockchain technology. The results highlighted relationships between NFTs and Ethereum, between Ethereum and Crypto Coin, and between Bitcoin and Ethereum, Ethereum being a bridge between all four. Therefore, NFTs present a relationship with Ethereum, the NFTs price had a causal effect on the price of Ethereum.
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This study seeks to explore whether E-Business, E-Commerce can facilitate the digital consumption of art. Gallery Weekend Santiago and Mexico are selected as a case study, since (1) it is an event present in the two Latin American countries with the possibility of trading works of art with NFT, (2) it is the first event of art galleries adapted 100% to e-payment and virtual currency (3) both were developed in the context of the covid-19 pandemic, so they have important online strategies to bring the event to the public (4) The sale of art with ethereum cryptocurrencies it is outsourced to the MarketPlace (OpenSea) (5) both countries are in various stages of development and implementation of technological initiatives in the field of e-business and art galleries. The methodology developed is based on reviewing in detail the construction and logic of each official website of gallery weekend santiago and mexico, along with analyzing the composition of the websites and work system of each of the art galleries, attached to the event, based on predefined parameters. It ends with an analysis of OpenSea regarding the upload of works to review how they are displayed on said sales platform, both for Mexico and for Chile. It is concluded that the development of E-Business and E-Commerce can facilitate the digital consumption of art, as has happened in the case of Galerry weekend stgo © 2022 ACM.
ABSTRACT
BACKGROUND: Globally, the coronavirus disease-19 (COVID-19) is an incomplete homework task. The society has transitioned into a non-face-to-face society due to COVID-19. Thus, research was conducted focusing on a new market in the cosmetic market using non-fungible token (NFT) in the metaverse era, a virtual world that is starting anew. PURPOSE: This study is an empirical analysis focused on introducing the new start of luxury cosmetics brands using the metaverse world to good consumption using NFT. METHOD: These data were reviewed to identify agreement between each section and unique guiding areas. The 39 papers were finally considered appropriate for evaluating the research objectives as follows in relation to the search criteria. This can be done through the PRISMA flow diagram to determine how many records were identified, included, and excluded. RESULT: Good consumption in the future beauty market is vital, following COVID-19. Therefore, this narrative review article concluded that, only good, irreplaceable brands that utilize NFT fitting the luxury brand strategy and consuming good money will survive when the metaverse cosmetic era opened. CONCLUSION: By identifying new changes in the global metaverse world and cosmetics market using NFT, this study can be used as an important marketing material in the metaverse cosmetics market.
ABSTRACT
We study the relationship between return and volatility of non-fungible tokens (NFT) segments and media coverage during the outbreak of the COVID-19 pandemic in a connectedness framework. We document media coverage as a net transmitter of spillover for both the return and volatility of NFT segments. We find that NFTs representing the Utilities segment is a major transmitter of spillover. Our findings have important implications for portfolio managers, regulators, and policymakers.
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In the face of the health challenges caused by the COVID-19 pandemic, healing and therapeutic design (HTD) as interventions can help with improving people's health. It is considered to have great potential to promote health in the forms of art, architecture, landscape, space, and environment. However, there are insufficient design approaches to address the challenges during the HTD process. An increased number of studies have shown that emerging information modeling (IM) such as building information modeling (BIM), landscape information modeling (LIM), and city information modeling (CIM) coupled with blockchain (BC) functionalities have the potential to enhance designers' HTD by considering important design elements, namely design variables, design knowledge, and design decision. It can also address challenges during the design process, such as design changes, conflicts in design requirements, the lack of design evaluation tools and frameworks, and incomplete design information. Therefore, this paper aims to develop a conceptual BC enhanced IM for HTD (BC-HTD) framework that addresses the challenges in the HTD and promotes health and well-being. The structure of BC-HTD framework is twofold: (1) a conceptual high-level framework comprising three levels: user; system; and information, (2) a conceptual low-level framework of detailed content at the system level, which has been constructed using a mixed quantitative and qualitative method of literature analysis, and validated via a pre-interview questionnaire survey and follow-up interviews with industry experts and academics. This paper analyzes the process of BC enhanced HTD and the knowledge management of HTD to aid design decisions in managing design information. This paper is the first attempt to apply the advantages of BC enabled IM to enhance the HTD process. The results of this study can foster and propel new research pathways and knowledge on the value of design in the form of non-fungible token (NFT) based on the extended advantages of BC in the field of design, which can fully mobilize the healing and therapeutic behaviors of designers and the advantage potential of HTD to promote health, and realize the vision of Health Metaverse in the context of sustainable development.
Subject(s)
Blockchain , COVID-19 , COVID-19/epidemiology , Health Promotion , Humans , Pandemics/prevention & control , Sustainable DevelopmentABSTRACT
Non-fungible tokens (NFTs) have garnered attention from investors and the general public. This pioneering study analyzes the connectedness of five NFT segments by employing the TVP-VAR based connectedness approach of Antonakakis et al. (2020) to identify the transmitter and receivers of spillover for both return and volatility of NFT segments. Our results show that Utility NFTs are the main transmitter of spillover, whereas the collectible NFTs are the main recipient of spillover for both return and volatility. Our findings have important implications for both investors and policy makers.
ABSTRACT
The combination of blockchain technologies and the gaming industry has given rise to metaverses and play-to-earn games, which incorporate their own economy, commerce, and currencies, namely, metaverse and play-to-earn tokens. In this study, we analysed the performance and dynamics of 174 tokens, showing that this new crypto niche is characterised by (i) a positive performance in the long run, (ii) the absence of high co-movements with the cryptocurrency market, (iii) the emergence of bubbles, (iv) and the absence of high correlations with NFT features, such as number of transactions, sales and Google searches.
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In this paper, we analyze the connectedness between returns for non-fungible tokens (NFTs) and other financial assets (equities, bonds, currencies, gold, oil, Ethereum) during the period from January 2018 to June 2021. By using the Time-Varying Parameter Vector Autoregressions (TVP-VAR) approach, we show that the overall connectedness between the returns for financial assets increased during the COVID-19 period. Our static analysis shows that the behavior of the majority of NFT returns is attributable to endogenous shocks and only a small portion of this variation resulted from the impact of innovation in other assets. The results suggest that NFTs are mainly independent of shocks from common assets classes and even from their close relation, Ethereum. The dynamic analysis across time reveals that during normal times, NFTs act as transmitters of systemic risk to some degree, but during stressful times, their role shifts, and they act as absorbers of risk spillovers. This suggests that NFTs may have diversification benefits during turbulent times, as apparent during the COVID-19 crisis, and especially around the great March 2020 market plunge.
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The updated "Unifying Hypothesis of Alzheimer's disease" (AD) is described that links all the observed neuropathology in AD brain (i.e., plaques, tangles, and cerebrovascular amyloid deposits), as well as inflammation, genetic factors (involving ApoE), "AD-in-a-Dish" studies, beta-amyloid protein (Aß) as a microbial peptide; and theories that bacteria, gut microflora, gingivitis and viruses all play a role in the cause of AD. The common link is the early accumulation of heparan sulfate proteoglycans (HSPGs) and heparan sulfate glycosaminoglycans (GAGs). HS GAG accumulation and/or decreased HS GAG degradation is postulated to be the key initiating event. HS GAGs and highly sulfated macromolecules induce Aß 1-40 (but not 1-42) to form spherical congophilic maltese-cross star-like amyloid core deposits identical to those in the AD brain. Heparin/HS also induces tau protein to form paired helical filaments (PHFs). Increased sulfation and/or decreased degradation of HSPGs and HS GAGs that occur due to brain aging leads to the formation of plaques and tangles in AD brain. Knockout of HS genes markedly reduce the accumulation of Aß fibrils in the brain demonstrating that HS GAGs are key. Bacteria and viruses all use cell surface HS GAGs for entry into cells, including SARS-CoV-2. Bacteria and viruses cause HS GAGs to rapidly increase to cause near-immediate aggregation of Aß fibrils. "AD-in-a-dish" studies use "Matrigel" as the underlying scaffold that spontaneously causes plaque, and then tangle formation in a dish. Matrigel mostly contains large amounts of perlecan, the same specific HSPG implicated in AD and amyloid disorders. Mucopolysaccharidoses caused by lack of specific HS GAG enzymes lead to massive accumulation of HS in lysosomal compartments in neurons and contribute to cognitive impairment in children. Neurons full of HS demonstrate marked accumulation and fibrillization of Aß, tau, α-synuclein, and prion protein (PrP) in mucopolysaccharidosis animal models demonstrating that HS GAG accumulation is a precursor to Aß accumulation in neurons. Brain aging leads to changes in HSPGs, including newly identified splice variants leading to increased HS GAG sulfation in the AD brain. All of these events lead to the new "Unifying Hypothesis of Alzheimer's disease" that further implicates HSPGs /HS GAGs as key (as first hypothesized by Snow and Wight in 1989).