{"id":"https://openalex.org/W4386167497","doi":"https://doi.org/10.1007/s12525-023-00658-z","title":"Value creation and capture in decentralized finance markets: Non-fungible tokens as a class of digital assets","display_name":"Value creation and capture in decentralized finance markets: Non-fungible tokens as a class of digital assets","publication_year":2023,"publication_date":"2023-08-25","ids":{"openalex":"https://openalex.org/W4386167497","doi":"https://doi.org/10.1007/s12525-023-00658-z"},"language":"en","primary_location":{"is_oa":true,"landing_page_url":"https://doi.org/10.1007/s12525-023-00658-z","pdf_url":"https://link.springer.com/content/pdf/10.1007/s12525-023-00658-z.pdf","source":{"id":"https://openalex.org/S137519996","display_name":"Electronic Markets","issn_l":"1019-6781","issn":["1019-6781","1422-8890"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319900","host_organization_name":"Springer Science+Business Media","host_organization_lineage":["https://openalex.org/P4310319965","https://openalex.org/P4310319900"],"host_organization_lineage_names":["Springer Nature","Springer Science+Business Media"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true},"type":"article","type_crossref":"journal-article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://link.springer.com/content/pdf/10.1007/s12525-023-00658-z.pdf","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5032011201","display_name":"Jan Schwiderowski","orcid":"https://orcid.org/0000-0002-0387-0816"},"institutions":[{"id":"https://openalex.org/I83467386","display_name":"IT University of Copenhagen","ror":"https://ror.org/02309jg23","country_code":"DK","type":"education","lineage":["https://openalex.org/I83467386"]}],"countries":["DK"],"is_corresponding":true,"raw_author_name":"Jan Schwiderowski","raw_affiliation_strings":["IT University of Copenhagen, 2300, Copenhagen, Denmark"],"affiliations":[{"raw_affiliation_string":"IT University of Copenhagen, 2300, Copenhagen, Denmark","institution_ids":["https://openalex.org/I83467386"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5049162933","display_name":"Asger Balle Pedersen","orcid":"https://orcid.org/0000-0002-3390-2831"},"institutions":[{"id":"https://openalex.org/I83467386","display_name":"IT University of Copenhagen","ror":"https://ror.org/02309jg23","country_code":"DK","type":"education","lineage":["https://openalex.org/I83467386"]}],"countries":["DK"],"is_corresponding":false,"raw_author_name":"Asger Balle Pedersen","raw_affiliation_strings":["IT University of Copenhagen, 2300, Copenhagen, Denmark"],"affiliations":[{"raw_affiliation_string":"IT University of Copenhagen, 2300, Copenhagen, Denmark","institution_ids":["https://openalex.org/I83467386"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5104160787","display_name":"Jonas Kasper Jensen","orcid":null},"institutions":[{"id":"https://openalex.org/I83467386","display_name":"IT University of Copenhagen","ror":"https://ror.org/02309jg23","country_code":"DK","type":"education","lineage":["https://openalex.org/I83467386"]}],"countries":["DK"],"is_corresponding":false,"raw_author_name":"Jonas Kasper Jensen","raw_affiliation_strings":["IT University of Copenhagen, 2300, Copenhagen, Denmark"],"affiliations":[{"raw_affiliation_string":"IT University of Copenhagen, 2300, Copenhagen, Denmark","institution_ids":["https://openalex.org/I83467386"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5030955120","display_name":"Roman Beck","orcid":"https://orcid.org/0000-0002-6341-2382"},"institutions":[{"id":"https://openalex.org/I83467386","display_name":"IT University of Copenhagen","ror":"https://ror.org/02309jg23","country_code":"DK","type":"education","lineage":["https://openalex.org/I83467386"]}],"countries":["DK"],"is_corresponding":false,"raw_author_name":"Roman Beck","raw_affiliation_strings":["IT University of Copenhagen, 2300, Copenhagen, Denmark"],"affiliations":[{"raw_affiliation_string":"IT University of Copenhagen, 2300, Copenhagen, Denmark","institution_ids":["https://openalex.org/I83467386"]}]}],"institution_assertions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5032011201"],"corresponding_institution_ids":["https://openalex.org/I83467386"],"apc_list":{"value":2590,"currency":"EUR","value_usd":3190,"provenance":"doaj"},"apc_paid":{"value":2590,"currency":"EUR","value_usd":3190,"provenance":"doaj"},"fwci":85.054,"has_fulltext":true,"fulltext_origin":"pdf","cited_by_count":21,"citation_normalized_percentile":{"value":0.999807,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":98,"max":99},"biblio":{"volume":"33","issue":"1","first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"primary_topic":{"id":"https://openalex.org/T13342","display_name":"Art History and Market Analysis","score":0.9991,"subfield":{"id":"https://openalex.org/subfields/1213","display_name":"Visual Arts and Performing Arts"},"field":{"id":"https://openalex.org/fields/12","display_name":"Arts and Humanities"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T13342","display_name":"Art History and Market Analysis","score":0.9991,"subfield":{"id":"https://openalex.org/subfields/1213","display_name":"Visual Arts and Performing Arts"},"field":{"id":"https://openalex.org/fields/12","display_name":"Arts and Humanities"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10270","display_name":"Blockchain Technology Applications and Security","score":0.9933,"subfield":{"id":"https://openalex.org/subfields/1710","display_name":"Information Systems"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T11995","display_name":"FinTech, Crowdfunding, Digital Finance","score":0.9807,"subfield":{"id":"https://openalex.org/subfields/1404","display_name":"Management Information Systems"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/value","display_name":"Value (mathematics)","score":0.60372055}],"concepts":[{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.60372055},{"id":"https://openalex.org/C139043278","wikidata":"https://www.wikidata.org/wiki/Q837171","display_name":"Financial services","level":2,"score":0.587155},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5107658},{"id":"https://openalex.org/C2986652750","wikidata":"https://www.wikidata.org/wiki/Q11700776","display_name":"Value creation","level":2,"score":0.48374724},{"id":"https://openalex.org/C180706569","wikidata":"https://www.wikidata.org/wiki/Q13479982","display_name":"Cryptocurrency","level":2,"score":0.4830497},{"id":"https://openalex.org/C2777212361","wikidata":"https://www.wikidata.org/wiki/Q5127848","display_name":"Class (philosophy)","level":2,"score":0.46413204},{"id":"https://openalex.org/C48145219","wikidata":"https://www.wikidata.org/wiki/Q1335365","display_name":"Security token","level":2,"score":0.4275697},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.41924715},{"id":"https://openalex.org/C4216890","wikidata":"https://www.wikidata.org/wiki/Q815823","display_name":"Business model","level":2,"score":0.41149858},{"id":"https://openalex.org/C162853370","wikidata":"https://www.wikidata.org/wiki/Q39809","display_name":"Marketing","level":1,"score":0.32226264},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.25706708},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.17194116},{"id":"https://openalex.org/C136764020","wikidata":"https://www.wikidata.org/wiki/Q466","display_name":"World Wide Web","level":1,"score":0.0821099},{"id":"https://openalex.org/C38652104","wikidata":"https://www.wikidata.org/wiki/Q3510521","display_name":"Computer security","level":1,"score":0.07901129},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C154945302","wikidata":"https://www.wikidata.org/wiki/Q11660","display_name":"Artificial intelligence","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"is_oa":true,"landing_page_url":"https://doi.org/10.1007/s12525-023-00658-z","pdf_url":"https://link.springer.com/content/pdf/10.1007/s12525-023-00658-z.pdf","source":{"id":"https://openalex.org/S137519996","display_name":"Electronic Markets","issn_l":"1019-6781","issn":["1019-6781","1422-8890"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319900","host_organization_name":"Springer Science+Business Media","host_organization_lineage":["https://openalex.org/P4310319965","https://openalex.org/P4310319900"],"host_organization_lineage_names":["Springer Nature","Springer Science+Business Media"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true}],"best_oa_location":{"is_oa":true,"landing_page_url":"https://doi.org/10.1007/s12525-023-00658-z","pdf_url":"https://link.springer.com/content/pdf/10.1007/s12525-023-00658-z.pdf","source":{"id":"https://openalex.org/S137519996","display_name":"Electronic Markets","issn_l":"1019-6781","issn":["1019-6781","1422-8890"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319900","host_organization_name":"Springer Science+Business Media","host_organization_lineage":["https://openalex.org/P4310319965","https://openalex.org/P4310319900"],"host_organization_lineage_names":["Springer Nature","Springer Science+Business Media"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true},"sustainable_development_goals":[{"score":0.57,"id":"https://metadata.un.org/sdg/9","display_name":"Industry, innovation and infrastructure"}],"grants":[{"funder":"https://openalex.org/F4320327202","funder_display_name":"IT-Universitetet i K\u00f8benhavn","award_id":null}],"datasets":[],"versions":[],"referenced_works_count":73,"referenced_works":["https://openalex.org/W1561115350","https://openalex.org/W1832469240","https://openalex.org/W1969783025","https://openalex.org/W1979290264","https://openalex.org/W1993930778","https://openalex.org/W1995671248","https://openalex.org/W2001965664","https://openalex.org/W2025575825","https://openalex.org/W2081450628","https://openalex.org/W2118646792","https://openalex.org/W2150264595","https://openalex.org/W2462182879","https://openalex.org/W2485317788","https://openalex.org/W2492707156","https://openalex.org/W2885299825","https://openalex.org/W2889510675","https://openalex.org/W2893832477","https://openalex.org/W2944786802","https://openalex.org/W2963861029","https://openalex.org/W2989739431","https://openalex.org/W3019265103","https://openalex.org/W3114396687","https://openalex.org/W3122345436","https://openalex.org/W3122402675","https://openalex.org/W3135677055","https://openalex.org/W3140909188","https://openalex.org/W3147272607","https://openalex.org/W3149974531","https://openalex.org/W3155602733","https://openalex.org/W3159427954","https://openalex.org/W3161733906","https://openalex.org/W3164635162","https://openalex.org/W3166291513","https://openalex.org/W3190823590","https://openalex.org/W3192995924","https://openalex.org/W3196026169","https://openalex.org/W3196384457","https://openalex.org/W3197698381","https://openalex.org/W3208066366","https://openalex.org/W3210183926","https://openalex.org/W3210522271","https://openalex.org/W3217666525","https://openalex.org/W4205522915","https://openalex.org/W4206487460","https://openalex.org/W4210611085","https://openalex.org/W4220905311","https://openalex.org/W4225098395","https://openalex.org/W4225139294","https://openalex.org/W4225769967","https://openalex.org/W4226047258","https://openalex.org/W4229066162","https://openalex.org/W4231679762","https://openalex.org/W4242089028","https://openalex.org/W4252261040","https://openalex.org/W4280578640","https://openalex.org/W4281249322","https://openalex.org/W4296157153","https://openalex.org/W4297830578","https://openalex.org/W4304687676","https://openalex.org/W4308454143","https://openalex.org/W4309858776","https://openalex.org/W4313388814","https://openalex.org/W4313435966","https://openalex.org/W4313649872","https://openalex.org/W4315777045","https://openalex.org/W4318480081","https://openalex.org/W4321087939","https://openalex.org/W4321599134","https://openalex.org/W4327730965","https://openalex.org/W4362581728","https://openalex.org/W4364376767","https://openalex.org/W4367182305","https://openalex.org/W76597601"],"related_works":["https://openalex.org/W4389915954","https://openalex.org/W4366411693","https://openalex.org/W4321377877","https://openalex.org/W4291291739","https://openalex.org/W3211641817","https://openalex.org/W3203562102","https://openalex.org/W3164717803","https://openalex.org/W3123387860","https://openalex.org/W3110645133","https://openalex.org/W2915579847"],"abstract_inverted_index":{"Abstract":[0],"Information":[1],"technology":[2],"(IT)":[3],"has":[4],"radically":[5],"changed":[6],"the":[7,12,43,88,95],"financial":[8],"services":[9],"industry,":[10],"with":[11,65],"most":[13],"recent":[14],"transformation":[15],"toward":[16],"Fintech":[17],"and":[18,38,48,73,83,86,91,113,144],"decentralized":[19],"finance":[20],"(DeFi),":[21],"driven":[22],"by":[23],"blockchain.":[24],"Especially,":[25],"non-fungible":[26],"token":[27],"(NFT)":[28],"assets":[29,129,139],"within":[30],"DeFi":[31,47],"are":[32,52,123,135],"redefining":[33],"how":[34],"value":[35,89,109],"is":[36],"created":[37],"disseminated,":[39],"for":[40,105],"instance,":[41],"in":[42,94],"art":[44,97,121,143],"industry.":[45],"However,":[46],"NFT":[49,67,79,96],"market":[50,98],"dynamics":[51,93],"not":[53,124],"yet":[54],"well":[55],"understood.":[56],"Using":[57],"a":[58,125],"thematic":[59],"analysis":[60],"based":[61],"on":[62],"14":[63],"interviews":[64],"major":[66],"stakeholders":[68],"(i.e.,":[69],"marketplace":[70],"providers,":[71],"artists,":[72],"investing":[74],"collectors),":[75],"we":[76,118],"identify":[77],"these":[78],"stakeholders\u2019":[80],"different":[81],"motivations":[82],"strategic":[84],"options":[85],"explain":[87],"creation":[90],"capture":[92],"resulting":[99],"from":[100],"their":[101,133],"interactions.":[102],"We":[103],"argue":[104],"decomposing":[106],"an":[107,111,114],"NFT\u2019s":[108],"into":[110],"NFT-intrinsic":[112],"NFT-extrinsic":[115],"part.":[116],"Finally,":[117],"elaborate":[119],"that":[120],"NFTs":[122],"new":[126],"class":[127],"of":[128,132],"because":[130],"many":[131],"properties":[134],"similar":[136],"to":[137],"related":[138],"such":[140],"as":[141],"physical":[142],"cryptocurrencies.":[145]},"cited_by_api_url":"https://api.openalex.org/works?filter=cites:W4386167497","counts_by_year":[{"year":2024,"cited_by_count":19},{"year":2023,"cited_by_count":1}],"updated_date":"2025-01-09T02:20:02.089365","created_date":"2023-08-26"}