Non‑fungible tokens (NFTs) have moved from niche experiments to a relevant asset class for creators, companies, and investors. Yet, there is still a lack of clear, neutral standards for assessing their quality and risks. ABC Research, together with the Austrian Economic Chamber (WKO) and AustriaPro, has developed the NFT Evaluation Guidelines to help close this gap.

The guidelines provide a structured, criteria‑based framework for evaluating NFTs, with a focus on NFTs already traded on the market and aimed at retail users. They are designed as an orientation tool and do not constitute investment, legal, or tax advice.

At the core of the framework is a multi‑dimensional model that looks at NFTs from two perspectives:

• Four topical areas

  • Economic

  • Technical

  • Legal

  • ESG (Environmental, Social, Governance)

• Three levels of analysis

  • The individual NFT

  • The broader NFT project or collection

  • The underlying infrastructure (blockchain, platforms, tools)

For each area and level, the guidelines define concrete, transparent criteria – for example, transaction fees and liquidity (Economic), smart contract quality and metadata storage (Technical), licensing and IP rights (Legal), or community governance and environmental aspects (ESG). Each criterion is assessed on a simple A–E scale, resulting in a clear profile of strengths and weaknesses rather than a single aggregated score. This makes it easier for users to understand why an NFT or project scores well or poorly in specific dimensions.

The document also clarifies the limits and risk boundaries of such an evaluation: it focuses on retail‑oriented NFTs, does not predict future value, and cannot replace professional advice. A practical example (Mocaverse) shows step‑by‑step how the model can be applied in real life and how it can be extended for specific use cases.

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