NFT sales and pricing are driven by luck, scarcity, and optimism, according to multiple studies By Cointelegraph

By admin Nov30,2023

A trio of studies published in November may shine some light on the social and psychological factors that motivate movement in the non-fungible token (NFT) market.

Researchers from Western University in Canada, Tilburg University in the Netherlands, the University of North Carolina at Chapel Hill in the U.S., and Rennes School of Business in France, across three independent studies, found that personal experiences and luck, along with asset scarcity and consumer optimism, were catalysts for the majority of market movement in the NFT space.