Non-fungible tokens: Use cases of NFTs and future research agenda

Abstract

Blockchain is a disruptive technology that is applied in many different areas (Atici, 2022). Non-fungible tokens (NFTs) are becoming increasingly popular and are already widely used in practice. New use cases for NFTs are emerging all the time. Due to the fact that they are unique, NFTs can prevent counterfeiting, as each token contains the digital signature of the owner (Rehman, Zainab, Imran, & Bawany, 2021). For the use of NFTs to advance in the institutional setting, the opportunities for using NFTs need to be clearly explored. Based on a systematic literature review (SLR), this paper describes and lists the most discussed use cases for NFTs in the scientific literature. The most discussed use cases are art and collectibles, video games, and applications in the metaverse. Another contribution of this article is a future research agenda that contains open questions in the field of NFTs. It aims to provide researchers with promising research avenues to stimulate future research. The results show that there are still challenges in the field of NFT that need to be further explored. In summary, our article aims to equip both researchers and practitioners with an initial overview and knowledge about NFTs, including their applications and challenges.

Cryptocurrencies as Gamblified Financial Assets and Cryptocasinos: Novel Risks for a Public Health Approach to Gambling

“…However, NFTs can overlap significantly with cryptocurrencies in the ways they are used. For example, recent research has explored the role of NFTs on 'Play to Earn' (PTE) online gaming (Delic and Delfabbro 2022;Aguila and Bartolata 2022), as well as their use for in-game collectables such as VGO skins (Gonserkewitz et al 2022). Additionally, NFTs have also been compared to highly speculative markets, where investors expect to profit from 'hyped' digital assets valued substantially above their actual price (Ma and Wen 2022).…”

Pendekatan Strategi Pemasaran NFT untuk Meningkatkan Kesadaran Konsumen dan Mendorong Tindakan dalam Lingkungan Kripto di Indonesia

“…Strategi pemasaran yang efektif sangat penting untuk mempromosikan NFT, menciptakan kesadaran, dan menstimulasi tindakan konsumen. Tinjauan literatur mengungkapkan beberapa aspek penting dari pemasaran NFT (Frye, 2021;Savić et al, n.d.). NFT telah menjadi platform revolusioner bagi para seniman untuk menandai kreasi digital mereka dan memonetisasi karya mereka.…”

“…Token ini disimpan di blockchain dan tidak dapat ditukar secara individual, menjadikannya alat yang menarik bagi para seniman, pembuat konten, dan merek untuk menandai dan memonetisasi kreasi digital mereka (He et al, 2023). NFT memiliki berbagai kasus penggunaan, termasuk seni dan barang koleksi, video game, dan aplikasi di metaverse (Gonserkewitz et al, 2022). Mereka dapat mencegah pemalsuan, karena setiap token berisi tanda tangan digital pemiliknya (Gonserkewitz et al, 2022).…”

“…NFT memiliki berbagai kasus penggunaan, termasuk seni dan barang koleksi, video game, dan aplikasi di metaverse (Gonserkewitz et al, 2022). Mereka dapat mencegah pemalsuan, karena setiap token berisi tanda tangan digital pemiliknya (Gonserkewitz et al, 2022). NFT juga telah digunakan dalam industri musik, di mana mereka dapat digabungkan dengan edisi khusus piringan hitam fisik dan sertifikat kepemilikan (Pfeiffer et al, 2022).…”

Exploring the Potential of Institutional NFTs Technology in the Emerging Digital Ecosystems of Web3

“…NFTs have the fundamental capability to offer increased liquidity and market depth, which is decisive for institutional investors who need to be able to buy and sell large volumes of assets quickly and efficiently (Gonserkewitz et al, 2022).…”