Title:

Unveiling the Interplay: NFTs, Metaverse Hype, and Ether Price Dynamics

Group publication title:

Debiuty Studenckie

Title in english:

Odkrywanie wzajemnych powiązań: NFT, Hype Metaverse i dynamika cen Ethereum

Creator:

Niesłony, Marcel

Contributor:

Kuźmińska-Haberla, Aleksandra. Redakcja ; Bobowski, Sebastian. Redakcja

Subject and Keywords:

NFT ; Metaverse ; ETH ; Ethereum

Description:

Niesłony, M. (2023). Unveiling the Interplay: NFTs, Metaverse Hype, and Ether Price Dynamics. In A. Kuźmińska-Haberla, S. Bobowski (Eds.), Ekonomia i międzynarodowe stosunki gospodarcze (pp. 24-36). Wroclaw University of Economic and Business.

Abstrakt:

Examining the connection between Non-Fungible Tokens (NFTs), the Metaverse, and Ethereum (ETH) prices reveals a nuanced relationship. NFTs, unique digital assets stored on the Ethereum blockchain, have seen a surge in global interest since early 2021, particularly on platforms like OpenSea. While there is an initial correlation between ETH price surges and increased NFT sales, a decline in ETH prices later leads to a surge in NFT sales, suggesting increased affordability. In the Metaverse, represented by projects like Decentraland, the relationship between the number of Land units sold and ETH prices is inconsistent. Additionally, examining average LAND prices compared to ETH prices reveals some correlation in specific periods. In summary, the analysis suggests a complex interplay between NFTs, the Metaverse, and ETH prices. While initial trends show correlations, factors like affordability and evolving market dynamics contribute to the nuanced relationship. Understanding these elements is crucial for accurate predictions of their impact on ETH prices.

Publisher:

Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu

Place of publication:

Wrocław

Date:

2023

Resource Type:

rozdział

Resource Identifier:

doi:10.15611/2023.36.9.02

Language:

eng

Relation:

Debiuty Studenckie 2024

Rights:

Pewne prawa zastrzeżone na rzecz Autorów i Wydawcy

Access Rights:

Dla wszystkich zgodnie z licencją

License:

CC BY-SA 4.0

Location:

Uniwersytet Ekonomiczny we Wrocławiu