Econometric analysis of the relationship between social media shares and price and sales amount of NFT collections

Authors : Uğur Bakan, Özge Korkmaz, Ufuk Bakan

Pages : 314-339

Doi:10.48146/odusobiad.1441103

View : 34 | Download : 37

Publication Date : 2025-03-23

Article Type : Research Paper

Abstract :The emergence of social media platforms is revolutionizing the distribution of information, creating a dynamic environment where market sentiment can be conveyed quickly. Although many social media platforms exist, X (Twitter) is an important medium where people easily share their feelings and thoughts. So much so that it is observed that people\\\'s thoughts and demands change according to the interaction in this medium, causing significant effects on savings and consumption behaviors. Similarly, herd behavior is observed due to the interaction in this medium. As a result of the fact that technological elements are taken into account in the changing and developing world, this study is unique in that it examines the interaction of X (Twitter) and NFT. In this context, the study examines the relationship between the sentiment value obtained from social media interactions on X (Twitter), specifically for X (Twitter) and the sales price and sales amount of selected NFT collections. In the study, Hacker Hatemi (2010) causality test was used and daily data for 25/01/2023-26/01/2024 was studied. As a result of the study, it was determined that the sentiment value caused the NFT collection sales amount and sales price.
Keywords : NFT, Sosyal Medya, (X) Twitter, Duygu Analizi, Hacker-Hatemi Nedensellik Testi