NFTs in the electronic market and its impact on digital art

Abstract

This article aims to clearly conceptualize NFTs in electronic commerce and identify what their impacts are on digital art. Therefore, it was posed as a research question: What are NFTs in e-commerce and what are their impacts on digital art? This purpose was achieved with the review of technological publications in databases such as Google Scholar and Redalyc. According to the analysis carried out, it is concluded that the NFTs are a cryptographic certification that gives a digital work the ability to be unique and unrepeatable and therefore its monetization and commercialization. As a financial impact, NFTs allow the sale of digital assets for large sums of money through decentralized finance (DeFi); As an impact on authenticity, the NFTs guarantee the attribution of the work as its uniqueness and origin from those who can legitimately dispose of it; and finally, as an impact on security, the NFTs make a work traceable and whose property can be transferred in a private and secure way thanks to the records based on Blockchain.

Proposal: Public Registry of Property supported by non-fungible tokens (NFT)

“…El registro NFT-activo digital (Mendoza Bautista et al, 2022), como reemplazo o sustituto de los títulos de propiedad o escrituras públicas, nacería de la insuficiencia de llevar estos registros al mundo digital de las cadenas de bloques, ya que si bien es la forma en que se asocia un titular con su propiedad hoy día, no se aprecia indispensable la necesidad de digitalización de dichos documentos, porque tales quedarían sustituidos por los registros NFT o activos digitales, que fungirían como los nuevos títulos de propiedad o escrituras públicas. En otras palabras, con una cadena de bloques NFT que dé cuenta de los registros NFT o activos digitales, se atendería la necesidad puramente administrativa de control de lo que está registrado, se ha registrado, se requiere y debe registrar.…”