In just a few months, “NFT” has practically become a household term in 2021. Trading volume surged past $10.7b in Q3. Visa bought a CryptoPunk for $150k. Quentin Tarantino announced he was auctioning never-before-seen scenes of Pulp Fiction as NFTs. Taco Bell, Burger King, McDonald’s, and Pizza Hut minted their own NFTs. Clearly, NFTs are here to stay; while many have explored different methods of classifying and valuing fungible tokens, few people have considered a framework for value driver...

In just a few months, “NFT” has practically become a household term in 2021. Trading volume surged past $10.7b in Q3. Visa bought a CryptoPunk for $150k. Quentin Tarantino announced he was auctioning never-before-seen scenes of Pulp Fiction as NFTs. Taco Bell, Burger King, McDonald’s, and Pizza Hut minted their own NFTs. Clearly, NFTs are here to stay; while many have explored different methods of classifying and valuing fungible tokens, few people have considered a framework for value driver...