Related references
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Information Science & Library Science
Evelyn Ng et al.
Summary: The failure rate of fintech platforms is high due to a lack of appropriate strategies and the limited applicability of traditional strategy prescriptions. To address these issues, a comprehensive review of fintech literature was conducted. Based on the analysis, a new research framework was proposed to compare the unique characteristics of fintech platforms with conventional strategies and provide directions for future research.
INFORMATION SYSTEMS JOURNAL
(2023)
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Chih-Hung Wu et al.
Summary: With the emergence of NFTs in blockchain technology, educational institutions are able to reward students by utilizing NFTs. By implementing smart contract technology, transaction information and the buying and selling process can be automatically processed, allowing for the establishment of recognition levels and incentive rewards. This study analyzes the potential and current applications of NFTs in education, and identifies 10 educational applications of NFTs, while also discussing ways to mitigate the negative impact on the environment.
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Business, Finance
Michael Sockin et al.
Summary: This article examines the decentralization of digital platforms through tokenization, which serves as an innovative solution to the conflict between platforms and users. By empowering users with control through utility tokens, tokenization acts as a commitment mechanism to prevent platform exploitation. However, this commitment comes at the expense of not having an equity owner, unlike in traditional platforms where owners subsidize participation to maximize network effects. Despite this trade-off, utility tokens remain a more appealing funding option for platforms with weak fundamentals. Nevertheless, the conflict reemerges when non-users, such as token investors and validators, participate on the platform.
JOURNAL OF FINANCE
(2023)
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Business, Finance
Giulio Anselmi et al.
Summary: Non-Fungible Tokens (NTFs) artworks have gained significant trading volume in the secondary market, with prices primarily denominated in Ethereum cryptocurrency experiencing a substantial increase. This study examines the informational efficiency of the crypto art market and explores whether crypto art can serve as an alternative to traditional art or merely attracts speculative traders. The findings suggest market inefficiency with persistent autoregressive patterns in price discovery. Additionally, crypto art is found to be unrelated to real-world art, with prices predominantly influenced by gains in the denomination cryptocurrency.
FINANCE RESEARCH LETTERS
(2023)
Article
Management
Benedikt C. C. Eikmanns et al.
Summary: This study explores the architectural and economic aspects of Decentralised Finance (DeFi), a largely unexplored field in blockchain-based applications. DeFi is defined as a decentralized application ecosystem built on permissionless smart contract platforms to imitate and extend traditional financial services. It is framed as a research object in information systems and management-related platform literature, conceptualized as a platform economy within software ecosystems and interdependent with external factors. Three promising avenues for future research are identified: (i) base layer blockchains as a platform for developers, (ii) the dApp economy of platform modules, and (iii) the diffusion and adoption of DeFi.
TECHNOLOGY ANALYSIS & STRATEGIC MANAGEMENT
(2023)
Review
Computer Science, Information Systems
Hamed Taherdoost
Summary: Non-fungible tokens (NFTs) are gaining popularity and have been extensively implemented. New use cases for NFTs are constantly developing. NFTs can prevent counterfeiting through their unique digital signatures.
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Elli Kraizberg
Financial Innovation
(2023)
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Computer Science, Information Systems
Jan Schwiderowski et al.
Summary: The research argues that cryptographic tokens are an essential part of the blockchain world, but there is still limited knowledge about these digital objects. By analyzing over 506 blockchain whitepapers, the study identifies three crypto token archetypes and develops a classification system, which enhances our understanding of complex blockchain systems. This is valuable for both researchers and practitioners in the blockchain field.
INFORMATION SYSTEMS FRONTIERS
(2023)
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Business
Eduard Hartwich et al.
Summary: The purpose of this paper is to establish a fundamental and comprehensive understanding of non-fungible tokens (NFTs) by developing a taxonomy that identifies and structures common characteristics. The authors conducted workshops and interviews with academic and industry experts to create a multi-layer taxonomy. The taxonomy is useful for research in finance, marketing, law, and information systems and can assist policymakers in NFT regulation.
Article
Business, Finance
Sean Wilkoff et al.
Summary: We provide the first study of liquidity in the nascent and rapidly growing non-fungible token (NFT) marketplace, showing important weekday patterns and the impact of new information on liquidity. Despite its decentralized and infancy stage, NFT liquidity shares similarities with developed financial markets. Overall, our findings enhance the understanding of liquidity in newly developed marketplaces.
GLOBAL FINANCE JOURNAL
(2023)
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Business
Tuuli Hakkarainen et al.
Summary: Blockchain-enabled advances (BEAs), such as smart contracts, cryptocurrencies, play-to-earn games, and non-fungible tokens, have significant implications for consumers and brands. This article proposes a theoretical framework that explains how BEAs can impact consumers and how brands can utilize them to innovate their products and services. The core principles of blockchain technology and enhanced digital connectivity empower consumers to have more control over their data and privacy rights, be responsible for their choices, and be digitally connected. Brands can leverage BEAs to introduce technology-focused service innovations, customer-focused service innovations, and product innovations. Based on this perspective, the article presents ten future research questions, aiming to contribute to the emerging field of blockchain in marketing.
JOURNAL OF BUSINESS RESEARCH
(2023)
Article
Business
Zack Jourdan et al.
Summary: The amount of fintech-related research has rapidly grown since its implementation. A review of literature in this field helps to identify explored and unexplored topics. This project collected and analyzed 216 articles published in finance and information systems journals over the past 20 years, revealing an increasing activity in the most recent 6 years. It also identified underrepresented research strategies and subject areas that require further exploration, and established four fintech topic categories.
ELECTRONIC MARKETS
(2023)
Review
Business
Vincent Gramlich et al.
Summary: Decentralized finance (DeFi) has the potential to surpass existing financial systems, but it is still a complex phenomenon that requires further research. This study conducts a literature review to analyze the current state of knowledge in DeFi, providing a consolidated definition and identifying research gaps and future directions. Despite highlighting shortcomings, the review shows consensus on DeFi's promising features and potential to complement traditional finance. The paper aims to encourage further research to mitigate current risks and enrich the financial ecosystem.
ELECTRONIC MARKETS
(2023)
Article
Development Studies
A. Damodaran
Summary: This paper explores the inclusive innovations of blockchain based digital technologies and the metaverse. It highlights how NFTs crafted from Ethereum blockchains allow artists to prove ownership and reach a wider community of buyers in both the real world and the Metaverse. Additionally, NFT auction platforms ensure marginalized buyers can own quality art works by innovatively fractionating digital versions of artwork and auctioning them to a large community of small buyers. The study adopts a conceptual approach to understand the implications of NFTs and the metaverse in democratizing art institutions through inclusive, authentic, and empowering distributed economic systems.
INNOVATION AND DEVELOPMENT
(2023)
Article
Business
Kathleen Bridget Wilson et al.
Summary: Non-fungible tokens (NFTs) are an emerging phenomenon revolutionizing the trading of digital assets. They represent immutable rights to unique digital assets such as art and collectibles, and are traded using blockchain technology. NFTs have transformed the way digital information is organized, consumed, and stored, and have seen rapid adoption in various industries. This article provides a conceptual map of the NFT ecosystem, highlighting the stakeholders involved and their implications.
Article
Business, Finance
Michael Dowling
Summary: In early 2021, NFTs emerged as a prominent application of blockchain technology. Although there is limited volatility transmission between cryptocurrencies and NFTs, their pricing patterns exhibit co-movement, indicating some relationship. However, the low volatility transmissions suggest that NFTs can be considered as a distinct low-correlation asset class.
FINANCE RESEARCH LETTERS
(2022)
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Business, Finance
David Y. Aharon et al.
Summary: This paper analyzes the connectedness between returns for non-fungible tokens (NFTs) and other financial assets. The study finds that the overall connectedness between the returns for financial assets increased during the COVID-19 period. Static analysis shows that most of the variation in NFT returns is driven by endogenous shocks, with only a small portion influenced by innovation in other assets. Dynamic analysis reveals that NFTs act as transmitters of systemic risk during normal times but shift to absorbers of risk spillovers during stressful times. Therefore, NFTs may provide diversification benefits during turbulent periods.
FINANCE RESEARCH LETTERS
(2022)
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Luisa Schaar et al.
Summary: This paper explores the investment potential of NFTs, with a focus on CryptoPunks, and analyzes their investment performance, price determinant variables, portfolio diversification potential, and correlation with other assets. The results indicate that CryptoPunks have been the best investment option in the past three years, with high returns and relatively low risk.
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Hyungjin Ko et al.
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FINANCE RESEARCH LETTERS
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Florian Horky et al.
Summary: While the traditional art market stagnates, the digital art market is thriving thanks to its connection with non-fungible tokens. By combining econometric tools with machine learning approaches and utilizing unique individual data from the online art NFTs marketplace, SuperRare, we are able to define explanatory variables for our Hedonic pricing approach. Our findings demonstrate the informational value of our Hedonic pricing models for NFT prices and refute the notion that NFTs are simply derivatives of cryptocurrencies.
FINANCE RESEARCH LETTERS
(2022)
Article
Economics
Seongwan Park et al.
Summary: In decentralized finance, the prices of tokens exhibit persistent co-movement, with the correlation increasing during bear markets and decreasing during bull markets. This co-movement in prices differs significantly between CEX cryptocurrencies and DEX tokens.
APPLIED ECONOMICS LETTERS
(2022)
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Journal of Business Venturing Insights
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Physics, Multidisciplinary
Xin-Jian Jiang et al.
Summary: CryptoKitties was the first widely recognized blockchain game that gained explosive growth upon its release but quickly collapsed. Analysis shows that the increase in public attention by media outlets led to the rapid increase in game popularity, while oversupply of kitties, decreasing player income, widening gap between rich and poor players, and limitations of blockchain systems contributed to the rapid decline in game popularity.
FRONTIERS IN PHYSICS
(2021)
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Chemistry, Multidisciplinary
Foteini Valeonti et al.
Summary: NFTs make digital assets ownable and tradable, offering a new way for fundraising in the cultural heritage sector. Despite concerns about environmental impact and security issues, NFTs have the potential to generate significant revenue for artists and museums.
APPLIED SCIENCES-BASEL
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News Item
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COMMUNICATIONS OF THE ACM
(2021)
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Green & Sustainable Science & Technology
Nien-Ping Chen et al.
Summary: Banks are investing in emerging financial technology, particularly blockchain, to improve competitiveness. This study proposes a hybrid decision model to evaluate blockchain-based business models for banks and finds that policies and regulations are the most crucial dimension.
Article
Business, Finance
Fabian Schaer
Summary: DeFi is an alternative financial infrastructure built on top of the Ethereum blockchain, using smart contracts to replicate existing financial services. Despite certain risks, DeFi has the potential to contribute to efficiency, transparency, accessibility, and composability in the financial sector.
FEDERAL RESERVE BANK OF ST LOUIS REVIEW
(2021)
Article
Management
Monika Maciuliene et al.
Summary: Co-creation and open innovation are critical sources of competitive advantage, but come with challenges such as stakeholder engagement and intellectual property protection. The emergence of blockchain and decentralized technologies has opened up new possibilities for social, financial, and technological innovations, focusing on transparency, security, and fairness. This calls for research to integrate diverse fields and develop sustainable decentralized platforms for long-term profitability.
SYSTEMS RESEARCH AND BEHAVIORAL SCIENCE
(2021)
Article
Economics
Paul Langley et al.
Summary: This paper views FinTech as a platform political economy characterized by reintermediation, consolidation, and capitalization. Organizations are engaging in platform reintermediation processes, leading to strong tendencies towards platform consolidation and intensive processes of capitalization from venture capital, private equity funds, banks, and BigTech firms.
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JOURNAL OF FINANCIAL REGULATION
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JOURNAL OF PRODUCT INNOVATION MANAGEMENT
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Cynthia Weiyi Cai
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QUANTITATIVE FINANCE
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COMPUTERS IN HUMAN BEHAVIOR
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AMERICAN ECONOMIC REVIEW
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Benjamin R. Mandel
AMERICAN ECONOMIC REVIEW
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JOURNAL OF ALTERNATIVE INVESTMENTS
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BRITISH JOURNAL OF MANAGEMENT
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