Protocol Labs Research
2022-06-15 / Conference paper
Influencing NFT pricing on secondary markets: A case study of Vpunks
CryptoAssets and Digital Asset Investment Conference / 2022.04.07 / Rennes, France


Non-fungible tokens (NFTs) allow for users to transfer the digital rights of a good, for example, art, via a blockchain. This enables users to track the art’s proof of origin and authenticity. We investigate potential influence auction house features, project roadmaps, and community growth have on NFT sales prices. Using OLS techniques and data from 7,272 secondary sales of the NFT project Vpunks we find auction house features, like being able to sort via price or rarity, decrease the sales price. We also find increased community engagement and the existence of a roadmap to increase sales prices.