Why Do NFT Collectors Jump Between Similar Art Collections?

Ever wondered why some people who collect non-fungible tokens (NFTs) seem to bounce from one art collection to another? Well, it turns out they might be drawn to visual similarities between these collections. NFTs are like special tokens on blockchain networks that prove ownership of digital images. These images are often grouped into collections. People use their digital wallets to explore and buy NFTs from these collections based on their interests. But what influences their choices? A recent study zoomed in on how the visual similarities between collections can shape these purchase journeys. Imagine a wallet like a curious explorer, jumping from one spot to another. This study used something called a Lévy flight to describe this exploratory behavior. The idea is that these wallets tend to favor collections that look similar to what they've bought before. It's like finding a new favorite ice cream flavor after trying another similar one! Here's where it gets interesting. The study found that while many people go for visually similar collections, their behaviors can be quite different. Some might stick to very similar collections, while others might jump to slightly different ones. The model also predicts how close the next collection will be to the last one bought, based on their looks. This research could give a big boost to recommendation systems in the NFT market. It could help suggest collections that might appeal to someone, based on what they've bought previously. But it also raises a question: are we missing out on unique and different collections because we're drawn to the familiar?

Why Do NFT Collectors Jump Between Similar Art Collections?

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