As CryptoPunks pioneers the innovation of non-fungible tokens (NFTs) in AI and art, the valuation mechanics of NFTs has become a trending topic. Earlier research identifies the impact of ethics and society on the price prediction of CryptoPunks. Since the booming year of the NFT market in 2021, the discussion of CryptoPunks has propagated on social media. Still, existing literature hasn't considered the social sentiment factors after the historical turning point on NFT valuation. In this paper, we study how sentiments in social media, together with gender and skin tone, contribute to NFT valuations by an empirical analysis of social media, blockchain, and crypto exchange data. We evidence social sentiments as a significant contributor to the price prediction of CryptoPunks. Furthermore, we document structure changes in the valuation mechanics before and after 2021. Although people's attitudes towards Cryptopunks are primarily positive, our findings reflect imbalances in transaction activities and pricing based on gender and skin tone. Our result is consistent and robust, controlling for the rarity of an NFT based on the set of human-readable attributes, including gender and skin tone. Our research contributes to the interdisciplinary study at the intersection of AI, Ethics, and Society, focusing on the ecosystem of decentralized AI or blockchain. We provide our data and code for replicability as open access on GitHub.
翻译:随着CryptoPunks在人工智能与艺术领域开创了非同质化代币(NFT)的创新先河,NFT的估值机制已成为热门研究话题。早期研究揭示了伦理与社会因素对CryptoPunks价格预测的影响。自2021年NFT市场爆发式增长以来,CryptoPunks的相关讨论已在社交媒体中广泛传播。然而,现有文献尚未考虑这一历史转折点后社会情感因素对NFT估值的影响。本文通过对社会媒体、区块链及加密货币交易所数据的实证分析,研究社交媒体情感、性别与肤色特征如何共同影响NFT估值。我们证实社会情感是CryptoPunks价格预测的重要贡献因素,并进一步记录了2021年前后估值机制的结构性变化。尽管公众对CryptoPunks的态度总体积极,但研究结果显示基于性别与肤色的交易活动与定价存在失衡现象。在控制NFT基于可读属性集(包括性别与肤色)的稀有性后,该结论具有一致性与稳健性。本研究为聚焦去中心化AI或区块链生态系统的AI、伦理与社会交叉学科研究做出贡献。我们在GitHub上以开放获取形式提供全部数据与代码,以确保研究可复现性。