Document Type

Article

Publication Date

2025

DOI

10.1186/s40854-024-00674-8

Publication Title

Financial Innovation

Volume

11

Issue

1

Pages

6 (1-24)

Abstract

As blockchain technology advances, non-fungible tokens (NFTs) are emerging as unconventional assets in the commercial market. However, it is necessary to establish a comprehensive NFT ecosystem that addresses the prevailing public concerns. This study aimed to bridge this gap by analyzing user-generated content on prominent social media platforms such as Twitter, Weibo, and Reddit. Employing text clustering and topic modeling techniques, such as Latent Dirichlet Allocation, we constructed an analytical framework to delve into the intricacies of the NFT ecosystem. Our investigation revealed seven distinct topics from Twitter and Reddit data and eight topics from Weibo data. Weibo users predominantly engaged in reviews and critiques, whereas Twitter and Reddit users emphasized personal experiences and perceptions. The NFT ecosystem encompasses several crucial elements, including transactions, customers, infrastructure, products, environments, and perceptions. By identifying the prevailing trends and common issues, this study offers valuable guidance for the development of NFT ecosystems.

Rights

© 2025 The Authors.

This article is licensed under a Creative Commons Attribution 4.0 International (CC BY 4.0) License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original authors and the source, provide a link to the Creative Commons license, and indicate if changes were made. The images or other third party material in this article are included in the article's Creative Commons license, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons license and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder.

Comments

Data availability statement: Article states: "All data used in this paper are available per request."

ORCID

0000-0002-4256-8476 (He)

Original Publication Citation

Xing, Y., Zhang, J. Z., He, Y., & Li, Y. (2025). Toward an ecosystem of non-fungible tokens from mapping public opinions on social media. Financial Innovation, 11(1), 1-24, Article 6. https://doi.org/10.1186/s40854-024-00674-8

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