Version 1
: Received: 26 May 2024 / Approved: 27 May 2024 / Online: 27 May 2024 (08:42:42 CEST)
How to cite:
Sheng, Y. Empirical Analysis of the Impact of Fintech on the Art Market: The Application of Blockchain Technology and Non-Fungible Tokens (NFTs). Preprints2024, 2024051696. https://doi.org/10.20944/preprints202405.1696.v1
Sheng, Y. Empirical Analysis of the Impact of Fintech on the Art Market: The Application of Blockchain Technology and Non-Fungible Tokens (NFTs). Preprints 2024, 2024051696. https://doi.org/10.20944/preprints202405.1696.v1
Sheng, Y. Empirical Analysis of the Impact of Fintech on the Art Market: The Application of Blockchain Technology and Non-Fungible Tokens (NFTs). Preprints2024, 2024051696. https://doi.org/10.20944/preprints202405.1696.v1
APA Style
Sheng, Y. (2024). Empirical Analysis of the Impact of Fintech on the Art Market: The Application of Blockchain Technology and Non-Fungible Tokens (NFTs). Preprints. https://doi.org/10.20944/preprints202405.1696.v1
Chicago/Turabian Style
Sheng, Y. 2024 "Empirical Analysis of the Impact of Fintech on the Art Market: The Application of Blockchain Technology and Non-Fungible Tokens (NFTs)" Preprints. https://doi.org/10.20944/preprints202405.1696.v1
Abstract
This study investigates the impact of fintech, particularly blockchain technology and non-fungible tokens (NFTs), on the art market. As fintech has been widely accepted, the art market has undergone transformations, including increased transaction transparency, enhanced liquidity, improved risk management capabilities, reduced entry barriers to the market, and more developed copyright protection. Using a Vector Autoregression (VAR) model, this paper clarifies the significant effects of fintech, especially the NFTs, on the size and profitability of the art market. The findings not only emphasize the importance of NFTs in developing the art market and increasing investment returns but also provide insights and constructive suggestions for the future growth and sustainable development of the art market. By fostering transparency, efficiency, and accessibility, fintech contributes to a more resilient and sustainable art market, ensuring its long-term prosperity and cultural enrichment.
Keywords
Fintech; Art Market; Blockchain; Non-Fungible Tokens (NFTs); Vector Autoregression (VAR); Sustainable Development
Subject
Business, Economics and Management, Finance
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
