Browse
Submit Data
Databases
API
Help

Dataset Information

0 Views

0 Connections

0 Citations

0 Reanalyses

0 Downloads

Omics score: 0

On the price dynamics of non-fungible tokens: The 'Bored Apes' case.

ABSTRACT: We analyse the pattern of daily price of a collection of artistic non-fungible tokens, namely, the "Bored Ape Yacht Club" (BAYC) collectibles, over the first year of their life, from May 2021 to May 2022. Taking a time-series analysis approach, we consider the daily average price, and other variants of daily price index, derived from hedonic regression model. Aesthetic features of the collectibles do matter. At the same time, the price series emerge to be non-stationary, integrated of order 1, with their first difference exhibiting heteroscedasticity and autoregressive variance. Models of ARCH/GARCH class are appropriate to describe the dynamics. Though the price series of BAYC collectibles and their daily movements share many characteristics with the series of financial assets, they do not appear to be related to financial variables from both the crypto- and the real (i.e., not crypto) world.

SUBMITTER: Cellini R

PROVIDER: S-EPMC10653520 | biostudies-literature | 2023

REPOSITORIES: biostudies-literature

ACCESS DATA

Json Xml

Publications

On the price dynamics of non-fungible tokens: The 'Bored Apes' case.

Cellini Roberto R Cuccia Tiziana T Lyrvall Johan J

PloS one 20231116 11

We analyse the pattern of daily price of a collection of artistic non-fungible tokens, namely, the "Bored Ape Yacht Club" (BAYC) collectibles, over the first year of their life, from May 2021 to May 2022. Taking a time-series analysis approach, we consider the daily average price, and other variants of daily price index, derived from hedonic regression model. Aesthetic features of the collectibles do matter. At the same time, the price series emerge to be non-stationary, integrated of order 1, w ...[more]

PMID: 37972087

Similar Datasets

Wallets' explorations across non-fungible token collections.

Project description:Non-fungible tokens (NFTs), which are immutable and transferable tokens on blockchain networks, have been used to certify the ownership of digital images often grouped in collections. Depending on individual interests, wallets explore and purchase NFTs in one or more image collections. Among many potential factors of shaping purchase trajectories, this paper specifically examines how visual similarities between collections affect wallets' explorations. Our model characterizes each wallet's explorations with a Lévy flight and shows that wallets tend to favor collections having similar visual features to their previous purchases while their behaviors vary widely. The model also predicts the extent to which the next collection is close to the most recent collection of purchases with respect to visual features. These results are expected to enhance and support recommendation systems for the NFT market.

| S-EPMC11569189 | biostudies-literature

Classification of cryptocurrency coins and tokens by the dynamics of their market capitalizations.

Project description:We empirically verify that the market capitalizations of coins and tokens in the cryptocurrency universe follow power-law distributions with significantly different values for the tail exponent falling between 0.5 and 0.7 for coins, and between 1.0 and 1.3 for tokens. We provide a rationale for this, based on a simple proportional growth with birth and death model previously employed to describe the size distribution of firms, cities, webpages, etc. We empirically validate the model and its main predictions, in terms of proportional growth (Gibrat's Law) of the coins and tokens. Estimating the main parameters of the model, the theoretical predictions for the power-law exponents of coin and token distributions are in remarkable agreement with the empirical estimations, given the simplicity of the model. Our results clearly characterize coins as being 'entrenched incumbents' and tokens as an 'explosive immature ecosystem', largely due to massive and exuberant Initial Coin Offering activity in the token space. The theory predicts that the exponent for tokens should converge to 1 in the future, reflecting a more reasonable rate of new entrants associated with genuine technological innovations.

| S-EPMC6170580 | biostudies-literature

Are non-fungible payments attractive when they reduce risk exposure? Evidence from Colombia

Project description: Not available

| S-EPMC10760666 | biostudies-literature

Unraveling the NFT economy: A comprehensive collection of Non-Fungible Token transactions and metadata

Project description: Not available

| S-EPMC10700583 | biostudies-literature

Price dynamics in political prediction markets.

Project description:Prediction markets, in which contract prices are used to forecast future events, are increasingly applied to various domains ranging from political contests to scientific breakthroughs. However, the dynamics of such markets are not well understood. Here, we study the return dynamics of the oldest, most data-rich prediction markets, the Iowa Electronic Presidential Election "winner-takes-all" markets. As with other financial markets, we find uncorrelated returns, power-law decaying volatility correlations, and, usually, power-law decaying distributions of returns. However, unlike other financial markets, we find conditional diverging volatilities as the contract settlement date approaches. We propose a dynamic binary option model that captures all features of the empirical data and can potentially provide a tool with which one may extract true information events from a price time series.

| S-EPMC2630077 | biostudies-literature

Unforgeable noise-tolerant quantum tokens

Project description:The realization of devices that harness the laws of quantum mechanics represents an exciting challenge at the interface of modern technology and fundamental science. An exemplary paragon of the power of such quantum primitives is the concept of “quantum money” [Wiesner S (1983) ACM SIGACT News 15:78–88]. A dishonest holder of a quantum bank note will invariably fail in any counterfeiting attempts; indeed, under assumptions of ideal measurements and decoherence-free memories such security is guaranteed by the no-cloning theorem. In any practical situation, however, noise, decoherence, and operational imperfections abound. Thus, the development of secure “quantum money”-type primitives capable of tolerating realistic infidelities is of both practical and fundamental importance. Here, we propose a novel class of such protocols and demonstrate their tolerance to noise; moreover, we prove their rigorous security by determining tight fidelity thresholds. Our proposed protocols require only the ability to prepare, store, and measure single quantum bit memories, making their experimental realization accessible with current technologies.

| S-EPMC3479565 | biostudies-literature

Fluctuation-driven price dynamics and investment strategies.

Project description:Investigation of the driven mechanism of the price dynamics in complex financial systems is important and challenging. In this paper, we propose an investment strategy to study how dynamic fluctuations drive the price movements. The strategy is successfully applied to different stock markets in the world, and the result indicates that the driving effect of the dynamic fluctuations is rather robust. We investigate how the strategy performance is influenced by the market states and optimize the strategy performance by introducing two parameters. The strategy is also compared with several typical technical trading rules. Our findings not only provide an investment strategy which extends investors' profits, but also offer a useful method to look into the dynamic properties of complex financial systems.

| S-EPMC5730119 | biostudies-literature

Dynamics of price formation on complex networks.

Project description:Networks mediate our economic interactions. From spatial networks representing transportation routes, to more abstract networks of similarity among products, we interact, trade, and compete over networks with a complex structure. Nevertheless, classical economic models of how prices are formed under competition, such as the Edgeworth and the Hotelling models, completely neglect the network structure of real markets. Here, we introduce a dynamical model of price formation, where sellers and buyers are placed on the nodes of a network with any arbitrarily complex topology. Buyers are modeled as random walkers with perfect or limited information about the market, and their distribution depends on the prices and positions of sellers. Concurrently, sellers dynamically adjust their prices to maximize their payoff, based on the current distribution of buyers. These two dynamical processes coevolve and we show that, depending on the positions of the sellers and on the level of information available to the buyers, the model can either converge to fixed prices, or produce cycles of different amplitudes and periods, similar to those observed in real-world markets. By unveiling how competition depends dynamically on the structure of a market, our model allows to quantify the strength of competition in real-world markets and also to identify the most profitable locations for a seller. We use urban street patterns of different cities from all over the world, as examples of spatial networks, to illustrate a novel measure of node centrality, which ranks nodes based on the payoff earned by a seller placed on that node.

| S-EPMC11783569 | biostudies-literature

Evolutionary dynamics of pseudoautosomal region 1 in humans and great apes.

Project description:BackgroundThe pseudoautosomal region 1 (PAR1) is a 2.7 Mb telomeric region of human sex chromosomes. PAR1 has a crucial role in ensuring proper segregation of sex chromosomes during male meiosis, exposing it to extreme recombination and mutation processes. We investigate PAR1 evolution using population genomic datasets of extant humans, eight populations of great apes, and two archaic human genome sequences.ResultsWe find that PAR1 is fast evolving and closer to evolutionary nucleotide equilibrium than autosomal telomeres. We detect a difference between substitution patterns and extant diversity in PAR1, mainly driven by the conflict between strong mutation and recombination-associated fixation bias at CpG sites. We detect excess C-to-G mutations in PAR1 of all great apes, specific to the mutagenic effect of male recombination. Despite recent evidence for Y chromosome introgression from humans into Neanderthals, we find that the Neanderthal PAR1 retained similarity to the Denisovan sequence. We find differences between substitution spectra of these archaics suggesting rapid evolution of PAR1 in recent hominin history. Frequency analysis of alleles segregating in females and males provided no evidence for recent sexual antagonism in this region. We study repeat content and double-strand break hotspot regions in PAR1 and find that they may play roles in ensuring the obligate X-Y recombination event during male meiosis.ConclusionsOur study provides an unprecedented quantification of population genetic forces governing PAR1 biology across extant and extinct hominids. PAR1 evolutionary dynamics are predominantly governed by recombination processes with a strong impact on mutation patterns across all species.

| S-EPMC9575207 | biostudies-literature

Using fungible biosensors to evolve improved alkaloid biosyntheses.

Project description:A key bottleneck in the microbial production of therapeutic plant metabolites is identifying enzymes that can improve yield. The facile identification of genetically encoded biosensors can overcome this limitation and become part of a general method for engineering scaled production. We have developed a combined screening and selection approach that quickly refines the affinities and specificities of generalist transcription factors; using RamR as a starting point, we evolve highly specific (>100-fold preference) and sensitive (half-maximum effective concentration (EC50) < 30 μM) biosensors for the alkaloids tetrahydropapaverine, papaverine, glaucine, rotundine and noscapine. High-resolution structures reveal multiple evolutionary avenues for the malleable effector-binding site and the creation of new pockets for different chemical moieties. These sensors further enabled the evolution of a streamlined pathway for tetrahydropapaverine, a precursor to four modern pharmaceuticals, collapsing multiple methylation steps into a single evolved enzyme. Our methods for evolving biosensors enable the rapid engineering of pathways for therapeutic alkaloids.

| S-EPMC11494455 | biostudies-literature

OmicsDI is part of the ELIXIR infrastructure

OmicsDI is an Elixir interoperability service. Learn more ›

Tweets

OmicsDI Databases

PRIDE
PeptideAtlas
MassIVE
JPOST Repository
Physiome Model Repository

EGA
EVA
ENA
LINCS
PAXDB
Cell Collective

MetaboLights
Metabolomics Workbench
MetabolomeExpress
GNPS
BioModels
FAIRDOMHub

ArrayExpress
dbGaP
ExpressionAtlas
GEO
NODE

Information

Databases
Help
API
Contact us
Code on GitHub
Terms of use
Submit Data