Exploring the relationship between rarity and price of profile picture NFT:A formal concept analysis on the BAYC NFT collection  

作　　者：Heejung Lee Geun-Cheol Lee Hoon-Young Koo 

机构地区：[1]School of Interdisciplinary Industrial Studies,Hanyang University,222 Wangsimni-ro,Seongdong-gu,Seoul,04763,Republic of Korea [2]College of Business Administration,Konkuk University,120 Neungdong-ro,Gwangjin-gu,Seoul,05029,Republic of Korea [3]School of Business,Chungnam National University,99 Daehak-ro,Yuseong-gu,Daejeon,34134,Republic of Korea

出　　处：《Blockchain(Research and Applications)》2024年第2期140-150,共11页区块链研究（英文）

基　　金：supported by the Ministry of Education of the Republic of Korea and the National Research Foundation of Korea(NRF-2023S1A5A2A03083440).

摘　　要：Non-fungible token(NFT)is a digital asset whose ownership can be validated and controlled via blockchain technology.The NFT market is a rapidly growing field,and the rarity of NFT is an essential factor that affects its price,as scarcity leads to higher demand.This study focuses on the BAYC NFT collection,which is a successful and representative collection of profile picture NFT,and analyzes how rarity affects NFT prices.This paper investigates the relationship between the rarity and price of the BAYC NFT collection using formal concept analysis(FCA)method.The results show that rarity is a major factor influencing the price of NFT and the effect is more apparent in the medium rarity range.When rarity is very high or very low,other factors become significant determinants,such as the uniqueness and appeal of NFT,and even the naturalness of NFT images.This research highlights the importance of considering rarity when assessing NFT and underscores the need for a comprehensive evaluation of NFT rarity.This study also provides valuable insights into the NFT market and can be useful for NFT investors,creators,and collectors.Furthermore,the usefulness of FCA as a tool for quantifying NFT rarity and evaluating NFT price was demonstrated.

关 键 词：NFT valuation Formal concept analysis RARITY 

分 类 号：TP391[自动化与计算机技术—计算机应用技术]