Yifan Cao
ABSTRACT
Non-fungible tokens (NFTs) have recently gained widespread popularity as an alternative investment. However, the lack of assessment criteria has caused intense volatility in NFT marketplaces. Identifying attributes impacting the market performance of NFT collectibles is crucial but challenging due to the massive amount of heterogeneous and multi-modal data in NFT transactions, e.g., social media texts, numerical trading data, and images. To address this challenge, we introduce an interactive dual-centric visual analytics system, NFTeller, to facilitate users’ analysis. First, we collaborate with five domain experts to distill static and dynamic impact attributes and collect relevant data. Next, we derive six analysis tasks and develop NFTeller to present the evolution of NFT transactions and correlate NFTs’ market performance with impact attributes. Notably, we create an augmented chord diagram with a radial stacked bar chart to explore intersections between NFT collection projects and whale accounts. Finally, we conduct three case studies and interview domain experts to evaluate the effectiveness and usability of this system. As such, we gain in-depth insights into assessing NFT collectibles and detecting opportune moments for investment.
- Dennis Chong and James N Druckman. 2010. Dynamic Public Opinion: Communication Effects Over Time. American Political Science Review 104, 4 (2010), 663–680.Google Scholar
Cross Ref
- Massimo Franceschet, Giovanni Colavizza, Blake Finucane, Martin Lukas Ostachowski, Sergio Scalet, Jonathan Perkins, James Morgan, Sebástian Hernández, 2020. Crypto Art: A Decentralized View. Leonardo (2020), 1–8.Google Scholar
- Kaiming He, Xiangyu Zhang, Shaoqing Ren, and Jian Sun. 2016. Deep Residual Learning for Image Recognition. In Proceedings of the IEEE Conference on Computer Vision and Pattern Recognition. 770–778.Google ScholarCross Ref
- Clayton Hutto and Eric Gilbert. 2014. Vader: A Parsimonious Rule-based Model for Sentiment Analysis of Social Media Text. In Proceedings of the International AAAI Conference on Web and Social Media, Vol. 8. 216–225.Google ScholarCross Ref
- Jianqiu Ji, Jianmin Li, Shuicheng Yan, Qi Tian, and Bo Zhang. 2013. Min-max Hash for Jaccard Similarity. In Proceedings of IEEE International Conference on Data Mining. IEEE, 301–309.Google ScholarCross Ref
- Arnav Kapoor, Dipanwita Guhathakurta, Mehul Mathur, Rupanshu Yadav, Manish Gupta, and Ponnurangam Kumaraguru. 2022. Tweetboost: Influence of Social Media on NFT Valuation. In Companion Proceedings of the Web Conference 2022. 621–629.Google ScholarDigital Library
- Peyman Khezr and Vijay Mohan. 2021. Property Rights in the Crypto Age: NFTs and the Auctioning of Limited Edition Artwork. Available at SSRN: https://ssrn.com/abstract=3900203 (2021).Google Scholar
- Christoph Kinkeldey, Jean-Daniel Fekete, Tanja Blascheck, and Petra Isenberg. 2021. Bitconduite: Exploratory Visual Analysis of Entity Activity on the Bitcoin Network. IEEE Computer Graphics and Applications 42, 1 (2021), 84–94.Google ScholarCross Ref
- Mikhail Krasnoselskii, Yash Madhwal, and Yury Yanovich. 2023. KRAMER: Interpretable Rarity Meter for Crypto Collectibles. IEEE Access 11 (2023), 4283–4290.Google ScholarCross Ref
- Amin Mekacher, Alberto Bracci, Matthieu Nadini, Mauro Martino, Laura Alessandretti, Luca Maria Aiello, and Andrea Baronchelli. 2022. Heterogeneous Rarity Patterns Drive Price Dynamics in NFT Collections. Scientific Reports 12, 1 (2022), 1–9.Google Scholar
- Matthieu Nadini, Laura Alessandretti, Flavio Di Giacinto, Mauro Martino, Luca Maria Aiello, and Andrea Baronchelli. 2021. Mapping the NFT Revolution: Market Trends, Trade Networks, and Visual Features. Scientific Reports 11, 1 (2021), 1–11.Google ScholarCross Ref
- Na Hyeon Park, Hanna Kim, Chanhee Lee, Changhoon Yoon, Seunghyeon Lee, Seungwon Shin, 2023. A Deep Dive into NFT Whales: A Longitudinal Study of the NFT Trading Ecosystem. arXiv preprint arXiv:2303.09393 (2023).Google Scholar
- Yujing Sun, Hao Xiong, Siu Ming Yiu, and Kwok Yan Lam. 2019. Bitvis: An Interactive Visualization System for Bitcoin Accounts Analysis. In Proceedings of Crypto Valley Conference on Blockchain Technology (CVCBT). IEEE, 21–25.Google ScholarCross Ref
- Mike Thelwall, Kevan Buckley, and Georgios Paltoglou. 2011. Sentiment in Twitter Events. Journal of the American Society for Information Science and Technology 62, 2 (2011), 406–418.Google ScholarDigital Library
- Natkamon Tovanich, Nicolas Heulot, Jean-Daniel Fekete, and Petra Isenberg. 2019. Visualization of Blockchain Data: A Systematic Review. IEEE Transactions on Visualization and Computer Graphics 27, 7 (2019), 3135–3152.Google ScholarDigital Library
- Natkamon Tovanich, Nicolas Soulié, Nicolas Heulot, and Petra Isenberg. 2021. MiningVis: Visual Analytics of the Bitcoin Mining Economy. IEEE Transactions on Visualization and Computer Graphics 28, 1 (2021), 868–878.Google ScholarDigital Library
- Foteini Valeonti, Antonis Bikakis, Melissa Terras, Chris Speed, Andrew Hudson-Smith, and Konstantinos Chalkias. 2021. Crypto Collectibles, Museum Funding and OpenGLAM: Challenges, Opportunities and the Potential of Non-Fungible Tokens (NFTs). Applied Sciences 11, 21 (2021), 9931.Google ScholarCross Ref
- Kishore Vasan, Milán Janosov, and Albert-László Barabási. 2022. Quantifying NFT-driven Networks in Crypto Art. Scientific Reports 12, 1 (2022), 1–11.Google ScholarCross Ref
- Xiaolin Wen, Yong Wang, Xuanwu Yue, Feida Zhu, and Min Zhu. 2023. NFTDisk: Visual Detection of Wash Trading in NFT Markets. In Proceedings of the SIGCHI Conference on Human Factors in Computing Systems (CHI 2023). to appear.Google ScholarDigital Library
- Bryan White, Aniket Mahanti, and Kalpdrum Passi. 2022. Characterizing the OpenSea NFT Marketplace. In Companion Proceedings of the Web Conference 2022. 488–496.Google Scholar
- Sean Wilkoff and Serhat Yildiz. 2023. The Behavior and Determinants of Illiquidity in the Non-fungible Tokens (NFTs) Market. Global Finance Journal 55 (2023), 100782.Google ScholarCross Ref
- Jia-zhi Xia, Yu-hong Zhang, Hui Ye, Ying Wang, Guang Jiang, Ying Zhao, Cong Xie, Xiao-yan Kui, Sheng-hui Liao, and Wei-ping Wang. 2020. SuPoolVisor: A Visual Analytics System for Mining Pool Surveillance. Frontiers of Information Technology & Electronic Engineering 21, 4 (2020), 507–523.Google ScholarCross Ref
- Xuanwu Yue, Xinhuan Shu, Xinyu Zhu, Xinnan Du, Zheqing Yu, Dimitrios Papadopoulos, and Siyuan Liu. 2018. Bitextract: Interactive Visualization for Extracting Bitcoin Exchange Intelligence. IEEE Transactions on Visualization and Computer Graphics 25, 1 (2018), 162–171.Google ScholarDigital Library
- Zengsheng Zhong, Shuirun Wei, Yeting Xu, Ying Zhao, Fangfang Zhou, Feng Luo, and Ronghua Shi. 2020. SilkViser: A Visual Explorer of Blockchain-based Cryptocurrency Transaction Data. In Proceedings of IEEE Conference on Visual Analytics Science and Technology (VAST). IEEE, 95–106.Google ScholarCross Ref
- Hong Zhou, Panpan Xu, and Huamin Qu. 2015. Visualization of Bipartite Relations Between Graphs and Sets. Journal of Visualization 18, 2 (2015), 159–172.Google ScholarDigital Library
Index Terms
- NFTeller: Dual-centric Visual Analytics for Assessing Market Performance of NFT Collectibles
Recommendations
Understanding Security Issues in the NFT Ecosystem
CCS '22: Proceedings of the 2022 ACM SIGSAC Conference on Computer and Communications SecurityNon-Fungible Tokens (NFTs) have emerged as a way to collect digital art as well as an investment vehicle. Despite having been popularized only recently, NFT markets have witnessed several high-profile (and high-value) asset sales and a tremendous growth ...
Scoring model for NFT evaluation
SOICT '23: Proceedings of the 12th International Symposium on Information and Communication TechnologyThe non-fungible token (NFT) market has experienced significant growth in recent years. Similar to real estate and artwork, NFT is illiquid and it does not have a market price. Thus, there arises a need for a comprehensive scoring system to analyze the ...
NFTDisk: Visual Detection of Wash Trading in NFT Markets
CHI '23: Proceedings of the 2023 CHI Conference on Human Factors in Computing SystemsWith the growing popularity of Non-Fungible Tokens (NFT), a new type of digital assets, various fraudulent activities have appeared in NFT markets. Among them, wash trading has become one of the most common frauds in NFT markets, which attempts to ...
Comments