What is it about?

Non-fungible tokens (NFTs) have recently become a hot topic as a new form of investment. However, the lack of clear guidelines for evaluating these digital assets leads to significant price fluctuations in NFT markets. It's crucial, but also quite complex, to identify the factors that impact NFT values due to the vast and diverse data involved in NFT transactions. This data includes social media posts, trade numbers, and images. To help with this, we've developed an interactive tool called NFTeller. This tool aids users in analyzing NFT transactions. We worked with five experts in the field to identify and collect data on static and dynamic impact attributes—the factors that can influence an NFT's market performance. We then used this information to create six analysis tasks within NFTeller. The tool shows how NFT transactions have evolved and how these impact attributes relate to an NFT's market performance. One key feature of NFTeller is an enhanced chord diagram combined with a radial stacked bar chart. This allows users to investigate overlaps between NFT collection projects and major investors, often called "whale accounts". We tested NFTeller's effectiveness and ease of use through three case studies and interviews with domain experts. Through this process, we gained valuable insights into how to evaluate NFTs and pinpoint the best times to invest.

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Why is it important?

The research on NFTeller is significant and distinctive because it addresses the lack of assessment criteria for NFT collectibles, which hinders stakeholders from making well-informed investment decisions. NFTeller is a visual analytics system that enables users to explore, analyze, and evaluate NFT collectibles. It offers a dual-centric workflow and intuitive visual designs to assess the market performance of NFT collectibles.What sets NFTeller apart is its ability to extract attributes that influence the market performance of NFT collectibles, showcase the intersections between NFT collection projects and influential whale accounts, and provide interactive exploration for users to evaluate NFT collectibles. NFTeller collaborates with domain experts to identify both static and dynamic attributes that impact NFT market performance. Additionally, it utilizes an augmented chord diagram with a radial stacked bar chart to illustrate the relationships between whale accounts and NFT projects.

Perspectives

I hope that this article will introduce the general public to the relatively niche and lesser-known field of Non-Fungible Tokens (NFTs), showcasing their charm and potential as a novel medium of content. In the course of this research, I had the opportunity to interact with numerous enthusiastic participants of the NFT market. Their insights proved to be a great source of inspiration, enriching our design and fueling my subsequent research on NFTs.

Yifan Cao

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This page is a summary of: NFTeller: Dual-centric Visual Analytics for Assessing Market Performance of NFT Collectibles, September 2023, ACM (Association for Computing Machinery),
DOI: 10.1145/3615522.3615578.
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