Influence of Social Media on NFT Valuation

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Gholinejad, Mohammad Mehdi | 2024

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Type of Document: M.Sc. Thesis
Language: Farsi
Document No: 57668 (19)
University: Sharif University of Technology
Department: Computer Engineering
Advisor(s): Habibi, Jafar
Abstract:
Non-Fungible Tokens (NFTs) are unique assets on the blockchain that prove ownership of various digital assets. Presently, a wide range of assets, such as digital art, music, tweets, and virtual assets in the metaverse, are being traded. Since there is no reliable standard for valuing NFTs, identifying criteria and correlations for their valuation and understanding the influence of social networks on these assets is crucial. Two key factors are identified in this process: (1) opinions, thoughts, and feedback from real individuals, and (2) the content of the token itself. Since these factors represent different types of data—textual and visual—two distinct analytical approaches are proposed. The first approach analyzes the visual content of the tokens, as well as price and transaction data, using machine learning tools. The second approach analyzes the textual data related to feedback and social interactions surrounding the tokens. This research aims to develop an automated method to understand the influence of social networks on NFT valuation by integrating insights from both approaches
Keywords:
Non-Fungible Tokens ; Blockchain ; Machine Learning ; Smart Contracts ; Metaverse ; Ownership Type