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Decoding the premium: The effect of name fluency on NFT artwork valuation

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  • Kang, Sehwon
  • Oh, Hyelim

Abstract

This paper examines how the fluency of an NFT’s title affects its market valuation. Leveraging sales data from Damien Hirst’s renowned NFT collection, The Currency, we find a positive association between name fluency and NFT price. Tokens with higher name fluency, measured by shorter titles and simpler syntax, achieve significantly higher prices. These findings extend heuristic-based theories in finance and economics by demonstrating that fluent cues influence investors’ valuations in the emerging blockchain-empowered NFT markets.

Suggested Citation

  • Kang, Sehwon & Oh, Hyelim, 2025. "Decoding the premium: The effect of name fluency on NFT artwork valuation," Economics Letters, Elsevier, vol. 255(C).
    • Handle: RePEc:eee:ecolet:v:255:y:2025:i:c:s0165176525003775
    DOI: 10.1016/j.econlet.2025.112540
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    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature

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