"Centralized or Decentralized?": Concerns and Value Judgments of Stakeholders in the Non-Fungible Tokens (NFTs) Market

• DOI: 10.31219/osf.io/evz4p
• Publication Date: 2023-11-14T05:01:02Z
• Authors: Yunpeng Xiao; Bufan Deng; Siqi Chen; Kyrie Zhixuan Zhou; RAY LC; Luyao Zhang; Xin Tong
• Keywords: Value (mathematics)

Non-fungible tokens (NFTs) are decentralized digital to represent the unique ownership of items. Recently, NFTs have been gaining popularity and at same time bringing up issues, such as scams, racism, sexism. Decentralization, a key attribute NFT, contributes some issues that easier regulate under centralized schemes, which intentionally left out NFT marketplace. In this work, we delved into centralization-decentralization dilemma in space through mixed quantitative qualitative methods. Centralization-decentralization is caused by conflict between slogan decentralization interests stakeholders. We first analyzed over 30,000 NFT-related tweets obtain high-level understanding stakeholders' concerns space. then interviewed 15 stakeholders (both creators collectors) their in-depth insights these potential solutions. Our findings identify concerning among users: financial counterfeit NFTs, hacking, unethical NFTs. further reflected on drawing upon perspectives interviews. Finally, gave inferences solve market thought about future decentralization.