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Investment Decision Factors of Non-Fungible Tokens in the Czech Republic: Survey

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  • Tichý Kryštof

    (Technical University of Liberec, Faculty of Economics, Department of Finances and Accounting, Studentská 1402/2, 461 17 Liberec, Czech Republic)

Abstract

Non-fungible Tokens (NFTs), represent a revolution in the digital ownership paradigm. NFTs are a kind of digital asset built on blockchain technology, most commonly the Ethereum blockchain, that validate the uniqueness and ownership of a unique digital item in question. Each NFT carries specific information or attributes that make it original and non-fungible. Unlike cryptocurrencies like Bitcoin or Ethereum, which are identical to each other, non-fungible tokens cannot be exchanged on a like-for-like basis making them non-fungible. NFTs are traded for cryptocurrencies via online trading platforms. Investment in NFTs can present a risky situation due to the large volatility of the assets in a quite short time. This article focuses on identification of key aspects that influence decision making process of potential investors who are considering buying non-fungible tokens as an investment tool in the Czech Republic. From the point of view of investment decision-making, the primary factors appear to be the expected income from the investment, its payback period, and the risk that the investor undertakes. It has been proven that there is a degree of dependence between gender and the mentioned decision-making factors. The research showed that men are more inclined to make decisions based on expected returns, while women are more likely to make decisions based on perceived risk.

Suggested Citation

  • Tichý Kryštof, 2024. "Investment Decision Factors of Non-Fungible Tokens in the Czech Republic: Survey," ACC Journal, Sciendo, vol. 30(2), pages 63-75.
    • Handle: RePEc:vrs:accjnl:v:30:y:2024:i:2:p:63-75:n:1004
    DOI: 10.2478/acc-2024-0007
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    References listed on IDEAS

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