Artikel

Future tendencies of non-fungible tokens

Blockchain has been one of the key innovations in information technology in the last 15 years. An important aspect of applying blockchain technology is the creation of so-called non-fungible tokens (NFTs). Although the name resembles cryptocurrencies because of the word token, in practice, NFTs do not represent electronic money but a digital certificate of ownership of an asset. They effectively behave like tokens whose total supply is one, and it is immutable. Considering their technical and conceptual basis, NFTs can be defined as digital certificates of ownership based on blockchain technology, the possession of which proves the indisputable ownership of the purchased digital asset. The subject of this paper is the conceptual basis of NFTs and the scope of their application in digital business. It aims to determine the value factors of NFTs and whether an expansion of their use can be expected in the future. The results of our research show that the essential advantage that NFTs bring to digital business is authentication. NFTs also enable the continuous collection of royalties by the author. The last, but potentially most powerful value generator of NFTs, is the creation of an ecosystem, where an online community is formed based on the initial forms of digital assets. Without standardization and regulation by states, NFTs will remain in the market niche of intensive Internet users.

Language
Englisch

Bibliographic citation
Journal: Naše gospodarstvo / Our Economy ; ISSN: 2385-8052 ; Volume: 69 ; Year: 2023 ; Issue: 2 ; Pages: 60-67

Classification
Wirtschaft
Management of Technological Innovation and R&D
Technological Change: Choices and Consequences; Diffusion Processes
Financial Institutions and Services: Other
Subject
Artificial intelligence
Blockchain
Cryptocurrencies
Non-fungible tokens
Exclusivity

Event
Geistige Schöpfung
(who)
Tomić, Nenad
Todorović, Violeta
Jakšić, Milena
Event
Veröffentlichung
(who)
Sciendo
(where)
Warsaw
(when)
2023

DOI
doi:10.2478/ngoe-2023-0012
Last update
10.03.2025, 11:43 AM CET

Data provider

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Object type

  • Artikel

Associated

  • Tomić, Nenad
  • Todorović, Violeta
  • Jakšić, Milena
  • Sciendo

Time of origin

  • 2023

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