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We quantify Non Fungible Token (NFT) rarity and investigate how it impacts market behaviour by analysing a dataset of 3.7M transactions collected between January 2018 and June 2022, involving 1.4M NFTs distributed across 410 collections.…

Statistical Finance · Quantitative Finance 2024-05-24 Amin Mekacher , Alberto Bracci , Matthieu Nadini , Mauro Martino , Laura Alessandretti , Luca Maria Aiello , Andrea Baronchelli

Non-fungible tokens (NFT) have recently emerged as a novel blockchain hosted financial asset class that has attracted major transaction volumes. Investment decisions rely on data and adequate preprocessing and application of analytics to…

Statistical Finance · Quantitative Finance 2023-02-23 Jason B. Cho , Sven Serneels , David S. Matteson

A non-fungible token (NFT) market is a new trading invention based on the blockchain technology which parallels the cryptocurrency market. In the present work we study capitalization, floor price, the number of transactions, the…

Computational Finance · Quantitative Finance 2024-01-17 Paweł Szydło , Marcin Wątorek , Jarosław Kwapień , Stanisław Drożdż

From viral jokes to a billion-dollar phenomenon, meme coins have become one of the most popular segments in cryptocurrency markets. Unlike utility-focused crypto assets like Bitcoin, meme coins derive value primarily from community…

Trading and Market Microstructure · Quantitative Finance 2026-01-05 Alberto Maria Mongardini , Alessandro Mei

Market manipulation is a strategy used by traders to alter the price of financial securities. One type of manipulation is based on the process of buying or selling assets by using several trading strategies, among them spoofing is a popular…

Trading and Market Microstructure · Quantitative Finance 2015-11-04 Enrique Martínez-Miranda , Peter McBurney , Matthew J. Howard

The rapid growth in popularity and hype surrounding digital assets such as art, video, and music in the form of non-fungible tokens (NFTs) has made them a lucrative investment opportunity, with NFT-based sales surpassing $25B in 2021 alone.…

Cryptography and Security · Computer Science 2023-09-12 Sayak Saha Roy , Dipanjan Das , Priyanka Bose , Christopher Kruegel , Giovanni Vigna , Shirin Nilizadeh

Non-Fungible Tokens (NFTs) have emerged as a way to collect digital art as well as an investment vehicle. Despite having been popularized only recently, NFT markets have witnessed several high-profile (and high-value) asset sales and a…

Cryptography and Security · Computer Science 2022-04-28 Dipanjan Das , Priyanka Bose , Nicola Ruaro , Christopher Kruegel , Giovanni Vigna

Every year, criminals launder billions of dollars acquired from serious felonies (e.g., terrorism, drug smuggling, or human trafficking) harming countless people and economies. Cryptocurrencies, in particular, have developed as a haven for…

Machine Learning · Computer Science 2021-10-06 Joana Lorenz , Maria Inês Silva , David Aparício , João Tiago Ascensão , Pedro Bizarro

Money laundering is the process where criminals use financial services to move massive amounts of illegal money to untraceable destinations and integrate them into legitimate financial systems. It is very crucial to identify such activities…

Artificial Intelligence · Computer Science 2023-02-27 Md. Rezaul Karim , Felix Hermsen , Sisay Adugna Chala , Paola de Perthuis , Avikarsha Mandal

The dramatic adoption of Bitcoin and other cryptocurrencies in the USA has revolutionized the financial landscape and provided unprecedented investment and transaction efficiency opportunities. The prime objective of this research project…

Non-fungible tokens (NFTs) are digital assets stored on a blockchain representing real-world objects such as art or collectibles. An NFT collection comprises numerous tokens; each token can be transacted multiple times. It is a…

Computational Finance · Quantitative Finance 2023-02-07 Wesley Joon-Wie Tann , Akhil Vuputuri , Ee-Chien Chang

Spoofing is an illegal act of artificially modifying the supply to drive temporarily prices in a given direction for profit. In practice, detection of such an act is challenging due to the complexity of modern electronic platforms and the…

Trading and Market Microstructure · Quantitative Finance 2020-12-11 Xuan Tao , Andrew Day , Lan Ling , Samuel Drapeau

By investigating nonfungible tokens (NFTs), we provide the first systematic study of retail investor behavior through asset bubbles. Given that NFTs are recorded in public blockchains, we are able to track investor behavior over time,…

Pricing of Securities · Quantitative Finance 2023-03-13 Andrea Barbon , Angelo Ranaldo

The cryptocurrency market is a very huge market without effective supervision. It is of great importance for investors and regulators to recognize whether there are market manipulation and its manipulation patterns. This paper proposes an…

General Finance · Quantitative Finance 2019-02-07 Weili Chen , Jun Wu , Zibin Zheng , Chuan Chen , Yuren Zhou

Recent years have witnessed the availability of richer and richer datasets in a variety of domains, where signals often have a multi-modal nature, blending temporal, relational and semantic information. Within this context, several works…

Social and Information Networks · Computer Science 2023-03-21 Haaroon Yousaf , Naomi A. Arnold , Renaud Lambiotte , Timothy LaRock , Richard G. Clegg , Peijie Zhong , Alhamza Alnaimi , Ben Steer

The Non-Fungible Token (NFT) market is mushrooming in recent years. The concept of NFT originally comes from a token standard of Ethereum, aiming to distinguish each token with distinguishable signs. This type of token can be bound with…

Cryptography and Security · Computer Science 2021-10-26 Qin Wang , Rujia Li , Qi Wang , Shiping Chen

The explosive growth of non-fungible tokens (NFTs) on Web3 has created a new frontier for digital art and collectibles, but also an emerging space for fraudulent activities. This study provides an in-depth analysis of NFT rug pulls, which…

Cryptography and Security · Computer Science 2023-04-18 Trishie Sharma , Rachit Agarwal , Sandeep Kumar Shukla

Bitcoin is firmly becoming a mainstream asset in our global society. Its highly volatile nature has traders and speculators flooding into the market to take advantage of its significant price swings in the hope of making money. This work…

Machine Learning · Computer Science 2021-10-29 Nathan Crone , Eoin Brophy , Tomas Ward

As Non-Fungible Tokens (NFTs) continue to grow in popularity, NFT users have become targets of phishing attacks by cybercriminals, called \textit{NFT drainers}. Over the last year, \$100 million worth of NFTs were stolen by drainers, and…

Cryptography and Security · Computer Science 2023-11-20 Hanna Kim , Jian Cui , Eugene Jang , Chanhee Lee , Yongjae Lee , Jin-Woo Chung , Seungwon Shin

In the realm of digital art and collectibles, NFTs are sweeping the board. Because of the massive sales to a new crypto audience, the livelihoods of digital artists are being transformed. It is no surprise that celebs are jumping on the…