The Market Ecology and Value Identity Crisis of NFT Art: A Critical Analysis through the Case of "Bored Ape"
Keywords:
The Market Ecology and Value Identity Crisis, NFT ArtAbstract
In the context of the rapid expansion and value bubble of the NFT art market, NFT art has shifted to becoming an important research subject for market ecology and value identity crises. This paper takes the "Bored Ape" series as a case study, analyzing how NFT art forms market bubbles through capital speculation and community marketing identity symbol construction from three dimensions: market mechanism, community operation, and symbolic consumption. It reveals the vulnerability and speculative nature of its value identity and shows that it cannot fully cover all NFT projects. The research finds that the leading NFT projects like "Bored Ape" exhibit characteristics such as inflated value and cultural hollowing out under the influence of capital. Their value identity is highly dependent on market sentiment and community consensus, lacking stable cultural value support. Such research provides strong support for the study of the digital art market. This study offers a critical perspective for understanding the value formation mechanism of the digital art market and has significant theoretical significance for regulating the development of the NFT art market and promoting the reconfiguration of digital art value.
