Speculation or collection? The impact of owner and item characteristics on polarized price premium in metaverse resale markets

The burgeoning resale market, encompassing both physical and digital domains, has attracted considerable attention, particularly within the nascent metaverse. A key characteristic of this market is the decentralized pricing mechanism, wherein resellers autonomously determine prices based on individual valuations. This often results in significant price volatility due to the absence of established pricing benchmarks within the metaverse ecosystem. This study investigates the multifaceted determinants of resale pricing within this context, employing data from a prominent metaverse platform. Our analysis demonstrates a positive impact on resale price premiums from several factors: owner wealth, speculative value, extended holding periods, and item popularity. Conversely, items exhibiting collector tendencies or those with limited sales histories are associated with lower price premiums. This research contributes to the existing literature by delineating the distinct influences of item-specific and owner-specific characteristics on resale pricing Furthermore, the utilization of metaverse-generated data not only mitigates traditional data acquisition challenges but also provides novel insights into the dynamics of pricing within this emerging digital environment. These findings offer valuable implications for stakeholders seeking to optimize pricing strategies and achieve competitive advantage within the metaverse resale market.