Publication Type

Conference Proceeding Article

Version

publishedVersion

Publication Date

7-2023

Abstract

Blockchain-based assets are commonly believed to attract new investors. To investigate this claim, we compared investor preferences for Web2 and Web3 domain name auctions by analyzing daily auction patterns in Namecheap and OpenSea. Our results indicate that Web3 platforms may attract extreme investors with low or high values as a niche market. We found a significantly higher number of bids per auction, higher average bid prices, and greater price spreads on OpenSea, but a significantly lower number of unique bidders per auction. Our findings highlight the importance of considering the auction platform's characteristics and asset context when evaluating bid patterns and predicting bid prices. This study serves as a starting point for future research in this emerging market and offers directions for further investigation.

Keywords

Web3, domain name, auction, platform, investor preference

Discipline

Information Security

Research Areas

Cybersecurity

Publication

Pacific Asia Conference on Information Systems PACIS 2023: Nanchang, July 8-12: Proceedings

First Page

1

Last Page

10

Publisher

AIS

City or Country

Atlanta, GA

Additional URL

https://aisel.aisnet.org/pacis2023/56/

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