Work

A Review of Non-fungible Tokens Applications in the Real-world and Metaverse

Year: 2022

Type: conference-paper

Abstract: The growth of the popularization of blockchain technology has caused new concepts to emerge. Non-Fungible Token (NFT) is one of these concepts introduced based on blockchain technology in 2017. As newly-emerged concepts, NFTs have rapidly become a popular technology in industry and academic research. NFTs currently have various applications in the industry, which are reviewed in the present study. They have also attracted a broad spectrum of research. Metaverse is another exciting blockchain-based technology that enables people to connect with digital avatars in a virtual universe. The importance of this study is to identify new applications of NFTs in the Metaverse making NFTs more applicable. Assisting with identity management and ownership right of digital assets are examples of NFT applications in the Metaverse that are explained in this study in detail. Ultimately, this study presents some future directions of NFT applications in industry and academic research.

Source: Procedia Computer Science

DOI: 10.1016/j.procs.2022.11.238

Authors: Saeed Banaeian Far, Seyed Mojtaba Hosseini Bamakan, Qiang Qu, Qingshan Jiang

Institutions: Islamic Azad University, Science and Research Branch, Yazd University, Chinese Academy of Sciences, Shenzhen Institutes of Advanced Technology

Language: English

Topic: Blockchain Technology Applications and Security

Subfield: Information Systems

Field: Computer Science

Domain: Physical Sciences

Open Access status: diamond