Home » Posts tagged 'Art'
Tag Archives: Art
Determinants of Sustained Success in NFT Markets
by Emily Xu
Abstract
Non-Fungible Tokens (NFTs) took headlines by storm in 2021 and have since established their own marketplace. As public interest in the space wanes in 2022-2023, I characterize this emerging space and investigate factors that distinguish top-performing NFT projects within their respective market segments while controlling for external market and cryptocurrency exposures. Literature in this emerging space remains sparse and I contribute in the following ways: 1) My cross-sectional time series panel synthesizes the most recent data from February 2022 to March 2023, utilizing information from five platforms (NonFungible.com, Twitter, OpenSea, ArtIndex, YahooFinance). To the best of my knowledge, this is the first holistic dataset that combines time-varying secondary sales data, Twitter, and market data. 2) My analysis categorizes data points by both NFT market segments and secondary sales performance, allowing for finer comparison between top and low performers within their respective categories. I find that a change in Twitter followers and tweets over time is a statistically significant and positive predictor of secondary sales, indicating that top-performing NFT projects must consistently add value and market to investors in order to generate sustained secondary sales. Additionally, top-performers saturate the space at incredibly high speeds and grand scales. For instance, the median top-performing collectible project has a collection of 10,000 items, attracted at least 60,000 Twitter followers, and achieved over $42 million in total sales, all within 1-2 years of the “NFT hype.” This concludes that royalties generated from NFTs are not passive, requiring creators to be reactive and consistent in their efforts.
Professor Michelle Connolly, Faculty Advisor
Professor Connel Fullenkamp, Faculty Advisor
JEL Codes: M30, M31, M37
The Influence Effect of Critics’ Reviews on Foreign and Domestic Movies
By Jayoung Jeon and Luxuan Jiao
Critics and their reviews provide crucial information for consumers in many “experience goods” markets, and the movie market is one such market. Through their impact on the consumer’s film selection, critics’ reviews influence the first weekend box office performance (the influence effect). We hypothesize that the influence effect of critics’ reviews is different for foreign and domestic movies. Using the U.S. film industry as our empirical setting, we examine the effects of reviews on opening weekend revenues in the U.S. film industry. We find that, when the critics’ assessment of domestic movies is positive, people are discouraged from watching the movie. On the other hand, for foreign movies, the impact of positive reviews is found to be positive. We interpret this result as arising from the different target audiences for foreign and domestic movies. Further analysis of our data supports this hypothesis. We also find that people are more influenced to watch movies when they see multiple reviews than only a few of them. This positive impact of the number of critics’ reviews is greater for domestic than foreign movies, and greater for domestic art movies than domestic non-art movies.
Advisor: James Roberts | JEL Codes: L82, M37 | Tagged: Art, Critics, Films, Foreign, Movies, Reviews
Understanding the Role of the Arts and Women in the Economy: The Contributions of Creative Literature.
by Danielle P. Petrilli
Abstract
This article considers the role of the arts and women in the economy from the late 19th into the early 20th century. Throughout this time period, the economics discipline did very little to address the place of either the arts or women in the modernizing economy and what little was done, on the whole, lacked complexity. This article thus begins with a brief outline of the views of the arts and women in the economy by economists during this time, but finding a greater wealth of information on these topics within creative literature, uses the work of prominent novelists as its primary research material
Professor Crauford Goodwin, Faculty Advisor
JEL Codes: B54, Z11,