Data Analysis of Non Fungible Tokens (NFTs) Pricing using Brokerage Firm data

Abstract

In recent times, the rise of Non Fungible Tokens has been inevitable. An NFT is a special kind of cryptographic token that represents the ownership of a unique piece of digital property. They are tamper-proof due to the use of distributed public ledger that records verified information across a network of computers. With the rise of crypto-trading, the NFT market segment has seen an accumulation in its trading volume in the capital market. There are various factors determining the price and sales of the NFTs and there is a need for meaningful insights from the data generated intermittently over time. With this as motivation, this proposed research work explores the factors that create an impact on the NFT market and in-depth data analysis with the help of brokerage firm data. This proposed work helps NFT enthusiasts would be able to derive the correlation between cryptocurrency market and NFT market.