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Non-Fungible Tokens (NFT): A Survey of Pricing Models, Security Issues and Future Directions

This paper offers a systematic survey of the NFT ecosystem, synthesizing current research on pricing mechanisms, security vulnerabilities, and technological adv

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Abstract

This paper offers a systematic survey of the NFT ecosystem, synthesizing current research on pricing mechanisms, security vulnerabilities, and technological advancements. The authors evaluate various valuation models, including hedonic pricing and machine learning approaches, to understand how market participants assign value to unique digital assets. Furthermore, the paper provides a detailed taxonomy of security risks, such as reentrancy attacks in minting contracts, metadata manipulation, and phishing in the NFT space. The survey also highlights future research trajectories, emphasizing the need for robust verification protocols and cross-chain interoperability. By providing this holistic view, the authors assist researchers and developers in identifying gaps in existing literature and understanding the structural challenges that must be addressed to scale NFTs for enterprise and institutional applications. It is a vital resource for understanding the multi-dimensional nature of NFT research. Authors: Qin Wang, Ruoxi Li, Qi Wang, Shiping Chen Publication: arXiv preprint Publication date: 2021-01-01

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Key findings

  • Valuation models for NFTs are heavily influenced by platform-specific community activity and rarity algorithms.
  • Security vulnerabilities in NFT contracts primarily stem from poor implementation of standard logic and insecure off-chain dependencies.
  • Future adoption depends on solving cross-chain liquidity and standardizing metadata verification.
  • Current pricing models struggle to account for the volatility and speculative nature of new asset classes.

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Citation

Qin Wang, Ruoxi Li, Qi Wang, Shiping Chen (2021). Non-Fungible Tokens (NFT): A Survey of Pricing Models, Security Issues and Future Directions. arXiv preprint. https://arxiv.org/abs/2105.07447
Canonical knowledge ID: research:non-fungible-tokens-nft-a-survey-of-pricing-models-security-issues-and-future-directions