In the evolving landscape of digital art, Non-Fungible Tokens (NFTs) have emerged as a groundbreaking platform, bridging the realms of art and technology. NFTs serve as the foundational framework that has revolutionized the market for digital art, enabling artists to showcase and monetize their creations in unprecedented ways. NFTs combine metadata stored on the blockchain with off-chain data, such as images, to create a novel form of digital ownership. It is not fully understood how these factors come together to determine NFT prices. In this study, we analyze both on-chain and off-chain data of NFT collections trading on OpenSea to understand what influences NFT pricing. Our results show that while text and image data of the NFTs can be used to explain price variations within collections, the extracted features do not generalize to new, unseen collections. Furthermore, we find that an NFT collection's trading volume often relates to its online presence, like social media followers and website traffic.

翻译：在数字艺术不断发展的背景下，非同质化代币（NFTs）作为一种突破性的平台应运而生，将艺术与技术的领域相连接。NFTs作为基础框架，彻底改变了数字艺术市场，使艺术家能够以前所未有的方式展示其作品并实现货币化。NFTs结合了存储在区块链上的元数据与链下数据（如图像），创造了一种全新的数字所有权形式。目前尚不完全清楚这些因素如何共同决定NFT的价格。在本研究中，我们分析了在OpenSea上交易的NFT集合的链上和链下数据，以探索影响NFT定价的因素。我们的结果表明，虽然NFT的文本和图像数据可被用于解释集合内部的价格差异，但这些提取的特征无法推广到新出现的、未见过的集合。此外，我们发现NFT集合的交易量通常与其在线存在度（如社交媒体关注者和网站流量）相关。