Extension: Value creation and capture in decentralized finance markets: Non-fungible tokens as a class of digital assets
Value creation and capture in decentralized finance markets: Non-fungible tokens as a class of digital assets presents the following source proposition: However, DeFi and NFT market dynamics are not yet well understood. This proposition is pertinent to Kaal's source-bound claim that In a firm commitment underwriting deal whose public portion does not sell out, a member is forced to sell reputation non fungible tokens on the over the counter market to satisfy the resulting capital call, but only if that member cannot cover the pro rata capital requirement with liquid capital. The proposed response is an extension: the relationship should remain limited to the retrieved source proposition and the mapped Kaal claim unless fuller source review supports a broader conclusion.
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