The dark side of non-fungible tokens: understanding risks in the NFT marketplace from a fraud triangle perspective
Abstract This study investigates the dark side of the non-fungible token (NFT) marketplace, with a focus on understanding the risks, and underlying factors driving fraud in the NFT ecosystem. Using the fraud triangle framework, this study examines pressure, opportunity, and rationalization from indi...
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| Format: | Article |
| Language: | English |
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SpringerOpen
2025-01-01
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| Series: | Financial Innovation |
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| Online Access: | https://doi.org/10.1186/s40854-024-00684-6 |
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| _version_ | 1832594476131942400 |
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| author | Nitin Upadhyay Shalini Upadhyay |
| author_facet | Nitin Upadhyay Shalini Upadhyay |
| author_sort | Nitin Upadhyay |
| collection | DOAJ |
| description | Abstract This study investigates the dark side of the non-fungible token (NFT) marketplace, with a focus on understanding the risks, and underlying factors driving fraud in the NFT ecosystem. Using the fraud triangle framework, this study examines pressure, opportunity, and rationalization from individual and organizational perspectives. The research provides a comprehensive understanding of the contributing factors to NFT marketplace fraud by analyzing the reasons behind fraudulent actions. A conceptual framework is developed that includes ten propositions to aid in understanding the complexity of this issue. This study’s outcomes will assist policymakers in crafting efficient approaches to mitigate fraud within the NFT marketplace. |
| format | Article |
| id | doaj-art-4bc78d7327da4c5eb592b73606db3a39 |
| institution | Kabale University |
| issn | 2199-4730 |
| language | English |
| publishDate | 2025-01-01 |
| publisher | SpringerOpen |
| record_format | Article |
| series | Financial Innovation |
| spelling | doaj-art-4bc78d7327da4c5eb592b73606db3a392025-01-19T12:36:12ZengSpringerOpenFinancial Innovation2199-47302025-01-0111112910.1186/s40854-024-00684-6The dark side of non-fungible tokens: understanding risks in the NFT marketplace from a fraud triangle perspectiveNitin Upadhyay0Shalini Upadhyay1IT Systems and Analytics, Indian Institute of Management JammuHumanities and Social Science Department, BITS Pilani K K Birla Goa CampusAbstract This study investigates the dark side of the non-fungible token (NFT) marketplace, with a focus on understanding the risks, and underlying factors driving fraud in the NFT ecosystem. Using the fraud triangle framework, this study examines pressure, opportunity, and rationalization from individual and organizational perspectives. The research provides a comprehensive understanding of the contributing factors to NFT marketplace fraud by analyzing the reasons behind fraudulent actions. A conceptual framework is developed that includes ten propositions to aid in understanding the complexity of this issue. This study’s outcomes will assist policymakers in crafting efficient approaches to mitigate fraud within the NFT marketplace.https://doi.org/10.1186/s40854-024-00684-6NFTBlockchainMarketplace risksOpportunityPressureRationalization |
| spellingShingle | Nitin Upadhyay Shalini Upadhyay The dark side of non-fungible tokens: understanding risks in the NFT marketplace from a fraud triangle perspective Financial Innovation NFT Blockchain Marketplace risks Opportunity Pressure Rationalization |
| title | The dark side of non-fungible tokens: understanding risks in the NFT marketplace from a fraud triangle perspective |
| title_full | The dark side of non-fungible tokens: understanding risks in the NFT marketplace from a fraud triangle perspective |
| title_fullStr | The dark side of non-fungible tokens: understanding risks in the NFT marketplace from a fraud triangle perspective |
| title_full_unstemmed | The dark side of non-fungible tokens: understanding risks in the NFT marketplace from a fraud triangle perspective |
| title_short | The dark side of non-fungible tokens: understanding risks in the NFT marketplace from a fraud triangle perspective |
| title_sort | dark side of non fungible tokens understanding risks in the nft marketplace from a fraud triangle perspective |
| topic | NFT Blockchain Marketplace risks Opportunity Pressure Rationalization |
| url | https://doi.org/10.1186/s40854-024-00684-6 |
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