Non-fungible Tokens - Publications - Faculty & Research

2025
Working Paper

Is Love Blind? AI-Powered Trading with Emotional Dividends

By: De-Rong Kong and Daniel Rabetti

We leverage the non-fungible tokens (NFTs) setting to assess the valuation of emotional dividends (LOVE), a long-standing empirical challenge in private-value markets such as art, antiques, and collectibles. Having created and validated our proxy, we use deep learning... View Details

Keywords: NFTs; Non-fungible Tokens; AI and Machine Learning; Valuation; Financial Markets

Citation

SSRN

February 21, 2024
Article

The NFT Staircase: How Digital Ownership Benefits Brands and Consumers

By: Scott Duke Kominers and Steve Kaczynski

One of our goals with our new book, The Everything Token: How NFTs and Web3 Will Transform the Way We Buy, Sell, and Create, is to unlock the power of nonfungible tokens, or NFTs, for business. National and international brands are already using NFTs in some of... View Details

Keywords: Non-fungible Tokens; NFTs; Brand; Brand Building; Digitization; Metaverse; Tokenization; Crypto Economy; Blockchain; Market Design; Brands and Branding; Value Creation

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February 9, 2024
Article

The Rise of Consumer Crypto

By: Steve Kaczynski and Scott Duke Kominers

Although non-fungible tokens are often misunderstood and even derided, they remain a general and flexible solution for establishing and tracking ownership in the digital domain. As a superior solution to existing technology in many areas of the consumer economy, their... View Details

Keywords: Cryptocurrency; Crypto Economy; NFTs; Non-fungible Tokens; Internet Of Everything; Market Design; Technological Innovation; Demand and Consumers; Web Services Industry

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November–December 2023
Article

Tax-Loss Harvesting with Cryptocurrencies

By: Lin William Cong, Wayne Landsman, Edward Maydew and Daniel Rabetti

We describe the taxation landscape in the cryptocurrency markets, especially concerning U.S. taxpayers, and examine how recent increases in tax scrutiny have led to changes in crypto investors' trading behavior. We argue conceptually and then empirically document that... View Details

Keywords: Cryptocurrency; Taxation; Governing Rules, Regulations, and Reforms; Financial Markets

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September–October 2023
Article

Building Brand Engagement: Lessons from NFTs and Collectibles

By: Frank V. Cespedes and Ben Plomion

The financial hype about Non-Fungible Tokens (NFTs) has cooled considerably since trading in that market went from more than $780 million on May 1, 2022 to less than $295 million for the entire month of May, 2023. But brands launch marketing campaigns in this medium,... View Details

Keywords: Opportunities; Digital Strategy; Brands and Branding; Marketing Strategy

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April 6, 2023
Article

A New NFT Launch Strategy: The Wave Mint

By: Scott Duke Kominers and 1337 Skulls Sers

In an NFT project, the mint—the process by which tokens are initially allocated—largely determines who your community is and how they and the broader market view the project going forward. In this piece, we review a new minting strategy recently introduced by 1337... View Details

Keywords: NFTs; Mechanism Design; Sales Management; Sales Model; Crypto Economy; Non-fungible Tokens; Networks; Product Launch; Auctions; Market Design

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August 2022
Case

SuperRare: Turning an NFT Marketplace into a DAO

By: Jeffrey J. Bussgang, Scott Duke Kominers and Amy Klopfenstein

In June 2021, John Crain and Jonathan Perkins, the founders of SuperRare, a marketplace for non-fungible tokens (NFTs), contemplate whether to transform their company into a decentralized autonomous organization (DAO). Crain and Perkins founded SuperRare in 2018 to... View Details

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August 3, 2022
Article

Why NFT Creators Are Going cc0

By: and Scott Duke Kominers Flashrekt

Strategies for building brands, communities, and content through intellectual property (IP) vary greatly across NFT projects. Some maintain more or less standard IP protections; others give just NFT owners rights to innovate upon the associated intellectual property;... View Details

Keywords: Non-fungible Tokens; NFTs; Video Games; Merchandising; Creative Commons; Intellectual Property

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May 2022
Case

From GOP to NFT: Anthony Scaramucci and the Launch of Flatter NFT

By: Lauren Cohen, Richard Ryffel and Grace Headinger

Anthony Scaramucci, Managing Director of SkyBridge Capital, considered whether he should officially greenlight the launch of SkyBridge’s own NFT platform — Flatter NFT. He had led the investment firm to push first into Bitcoin and then Ethereum to make SkyBridge a... View Details