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

초록

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.

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