Have real-data studies tested if royalties or ownership perks raise token prices?

Research question: Which peer-reviewed or working-paper studies test the Digital Ownership value mechanisms (retained value, provenance value, fractional membership, royalties) with empirical data on tokenized asset prices or fee revenue?

None of the verified facts reports an empirical test of retained value, provenance value, fractional membership, or royalties against tokenized asset prices or fee revenue. The records show only a single cited sale and a contractual royalty term, which are examples rather than tests ⁴⁵. The closest empirical work is a panel regression of NFT prices on trading activity, which returned insignificant results for most collections and so could not reliably measure price impact ¹. Collection age showed a strong positive relationship with NFT prices, but this does not address the four named mechanisms ³. The newest verified fact dates from 2021, about five years before October 2026, so the evidence is dated ⁶.

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