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

Öz

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.

Anahtar Kelimeler

• NFT
• Social Media
• (X) Twitter
• Sentiment Analysis
• Hacker-Hatemi Causality Analysis

Sosyal medya paylaşımları ile NFT koleksiyonlarının fiyatı ve satış miktarı arasındaki ilişkinin ekonometrik analizi

Öz

Sosyal medya platformlarının ortaya çıkışı, bilgi dağıtımında devrim yaratarak piyasa duygularının hızla aktarılabileceği dinamik bir ortam yaratmaktadır. Birçok sosyal medya platformu olmasına rağmen, insanların duygu ve düşüncelerini rahatça paylaştıkları önemli bir mecra olarak X (Twitter) görülmektedir. Öyle ki, bu mecradaki etkileşime göre insanların düşüncelerinin ve taleplerinin değiştiği, tasarruf ve tüketim davranışlarında anlamlı etkilere yol açtığı görülmektedir. Benzer şekilde bu mecradaki etkileşim neticesinde, sürü davranışları gözlenmektedir. Değişen ve gelişen dünyada teknolojik unsurların dikkate alınması gerçeği neticesinde, bu çalışma X (Twitter) ve NFT etkileşimini incelemesi yönüyle özgün bir nitelik taşımaktadır. Bu bağlamda çalışmada, X (Twitter)’deki sosyal medya etkileşimlerinden elde edilen duygu değeri ile seçilmiş NFT koleksiyonlarının satış fiyatı ve satış miktarı arasındaki ilişki incelenmektedir. Çalışmada Hacker Hatemi (2010) nedensellik testinden yararlanılmış ve 25/01/2023-26/01/2024 dönemi günlük verileri ile çalışılmıştır. Çalışma sonucunda duygu değerinin NFT koleksiyonunun satış miktarına ve satış fiyatına neden olduğu saptanmıştır.

Anahtar Kelimeler

• NFT
• Sosyal Medya
• (X) Twitter
• Duygu Analizi
• Hacker-Hatemi Nedensellik Testi

Kaynakça

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