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Investigating herding severity in different NFT categories

Author

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  • Mamidala, Vasanthi
  • Kumari, Pooja

Abstract

This study investigates unconditional and conditional herding behaviour in Non-Fungible Token (NFT) sales volume and whether NFT's popularity coheres with it. We find that herding exists in all NFTs except metaverse NFTs and is more significant in lower sales volume for game and utility NFTs. Furthermore, NFTs’ sales volumes and popularity exhibit coherence. Overall, our findings provide valuable insights for investors and policymakers.

Suggested Citation

  • Mamidala, Vasanthi & Kumari, Pooja, 2023. "Investigating herding severity in different NFT categories," Finance Research Letters, Elsevier, vol. 58(PB).
    • Handle: RePEc:eee:finlet:v:58:y:2023:i:pb:s1544612323008000
    DOI: 10.1016/j.frl.2023.104428
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    More about this item

    Keywords

    Non-fungible token; Conditional herding; Unconditional herding; Wavelet analysis;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G19 - Financial Economics - - General Financial Markets - - - Other
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets

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