Non-Fungible Tokens and the Threat of Wash Trading
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F46747885%3A24310%2F23%3A00011701" target="_blank" >RIV/46747885:24310/23:00011701 - isvavai.cz</a>
Result on the web
<a href="https://drive.google.com/file/d/1wlzvkm-tOveKAn-k0uagT6RFIo6IjhIK/view" target="_blank" >https://drive.google.com/file/d/1wlzvkm-tOveKAn-k0uagT6RFIo6IjhIK/view</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.15240/tul/009/lef-2023-20" target="_blank" >10.15240/tul/009/lef-2023-20</a>
Alternative languages
Result language
angličtina
Original language name
Non-Fungible Tokens and the Threat of Wash Trading
Original language description
Non-fungible tokens are a revolutionary concept that combines art, authenticity, proof of ownership and enables large-scale commerce. Their value does not come from their use in financial transactions, but from the fact that they are linked to specific assets, whether digital or real. Non-fungible tokens thus represent a new driving force in the areas of digital ownership. Owners of these tokens can earn huge sums at a time when the art market is on the verge of revolution. The non-fungible token market experienced enormous growth in 2021 with traders investing a huge amounts of billions of dollars worth of cryptocurrencies into digital collectibles. Since 2021 the transaction activity in this area cooled, although the number of active investors continued to grow in 2022. While the popularity of certain non-fungible token collectibles can fluctuate depending on market conditions, some traders may try to manipulate the prices of certain non- fungible tokens to make them appear more valuable. The token will be sold at a higher price to a new wallet, which is also controlled by the original owner. Transactions between wallet addresses are saved on a blockchain and can be accessed publicly, so that anyone can see when the token was traded and for how much it was sold. However, wallet addresses contain no identifying information making it very difficult to discern who is behind a transaction and whether two addresses are owned by the same individual. This process is called wash trading and its analysis is a goal of this contribution.
Czech name
—
Czech description
—
Classification
Type
D - Article in proceedings
CEP classification
—
OECD FORD branch
50206 - Finance
Result continuities
Project
—
Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2023
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Liberec Economic Forum 2023
ISBN
978-80-7494-672-1
ISSN
—
e-ISSN
—
Number of pages
8
Pages from-to
179-186
Publisher name
Technical University of Liberec, Studentská 1402/2, 461 17 Liberec 1, Czech Republic, Europe
Place of publication
Liberec
Event location
Liberec
Event date
Jan 1, 2023
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
001582505100020