• Journal of the Korea Society of Computer and Information
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• v.29 no.2
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• pp.127-136
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• 2024

This paper presents a novel method for minting hierarchical Non-Fungible Tokens(NFTs) via a parent-child structure. In contrast to existing NFT structures, our proposed model enables an NFT to act as a parent, creating child NFTs and distributing ownership stakes among them. These child NFTs are recursively structured, allowing them to generate their own descendants. The existing structure of NFTs does not inherently allow for fractional ownership. However, our proposed hierarchical model provides a feasible solution to this restriction. By dividing an NFT into multiple child NFTs, each with its own unique identity, we facilitate the detailed division of an asset, thereby making fractional ownership possible. In conclusion, the hierarchical NFT model proposed in this paper offers a promising solution to the challenges of fractional ownership in the digital asset arena. By enabling the detailed division of NFTs through a parent-child structure, we anticipate a future where digital assets can be owned and traded more flexibly and transparently.

• Proceedings of the Korean Society of Computer Information Conference
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• 2022.07a
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• pp.547-548
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• 2022

본 논문에서는 디지털 노마드들이 활동하는 인터넷 환경에서 좀 더 진화된 형태의 메타버스 플랫폼 환경에서는 물론 컴퓨터를 활용한 디지털 환경에서 적응하며 블록체인이나 NFT와 같은 가상화폐, 가상자산과 함께 융합 발전하고 있다. MZ세대 중에서 컴퓨터를 활용하는 그래픽 아티스트들의 디지털 아트활동과 좀 더 발전된 형태의 NFT아트로의 융합 발전에 대해 알아보고 디지털 노마드를 넘어 디지털 네이티브로 진화한 이러한 디지털 창작활동을 하는 아트직군의 크리에이터들이 향후 어떻게 발전하게 될지 후속 연구 방향성을 제시한다.

• Journal of Information Technology Services
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• v.22 no.4
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• pp.81-95
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• 2023

The emergence of Security Token has revolutionized the way assets are traded, bringing efficiency, transparency, and accessibility to the market. However, the Real Estate Security Token market faces challenges, particularly in terms of liquidity. The CMTO(Collateralized Mortgage Token Obligation) model addresses this issue by introducing a novel approach that combines the benefits of NFT(Non-Fungible Token), STO(Security Token Offering), and CMO(Collateralized Mortgage Obligation) techniques to enhance liquidity and promote investment in Real Estate Security Token. The CMTO framework functions by allowing DABS token investors to leverage their tokens as collateral for loans. These token-collateralized loans are pooled together and form the basis for issuing Sequential CMO named CMTO. The CMTO represent a diversified portfolio of token-collateralized loans, providing investors with options based on their financial goals and risk preferences. By implementing CMTO, the Real Estate Security Token market can overcome liquidity challenges, attract a broader range of investors, and unlock the full potential of digital assets in the real estate industry.

• Journal of the Korean Society of Clothing and Textiles
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• v.47 no.5
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• pp.929-942
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• 2023

Web 3.0 enables people and machines to connect, evolve, share, and use knowledge on an unprecedented scale and in new ways, drastically improving our Internet experience. The metaverse is a collective, virtual shared space supporting all digital activities. Prompted by the rapid growth of digital art and digital fashion, this theoretical analysis explores using Jean Baudrillard's simulation concept to create unique digital art non-fungible tokens (NFTs), allowing them to express and communicate ideas like real-world art. Specifically, this study analyzes 120 digital fashion portraits of humans and animals and classifies them under three types of simulacra covering four stages of Baudrillard's simulation process. The result shows that NFT fashion artworks reflect the core features of a digital reality by connecting and transcending the boundaries of cultures, genders, and nationalities. However, in the final simulation stage (the fourth step), the simulacrum can only coexist in the virtual world as a hyperreal object (the Type III of simulacrum): an object more real than reality.

• The Journal of the Convergence on Culture Technology
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• v.8 no.1
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• pp.523-529
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• 2022

Art sponsorship contributed to the development of culture and art by supporting art activities to be financially stable. Various problems in the non-fungible tokens (NFTs) market, such as speculative transactions, are also expected to be improved through sound art sponsorship. This study proposes methods of implementing art sponsorship using NFTs and smart contracts. First, we propose a method of posting the acknowledgement of art sponsorship using NFT metadata. Second, we propose a method to remit sponsorship funds according to the project schedule using time-locked wallets. Third, we propose a method to remit sponsorship funds when major events of the project occur or requirements are met using Event-Driven Execution. The proposed methods can be used to share the fact about art sponsorship and safely fund it. However, many decisions about art projects must be made based on information generated outside the blockchain, which can lead to Oracle problems, so further research is needed.

• Journal of Korea Society of Digital Industry and Information Management
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• v.19 no.2
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• pp.161-175
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• 2023

The purpose of this study is the effects of Social Characteristics and Personal Characteristics on Virtual Asset Purchase Intention. TPB (Theory of Planned Behavior) model is validated as a theoretical background. possessiveness, and innovation tendency, herding, subjective norm, attitude, and Purchase intention were composed of variables. The method of the study collected 474 data of those experienced in NFT through a survey and conducted as a structural equation modeling method using AMOS. The result of this paper shows that 4 hypotheses are accepted statistically significant except 1 hypotheses among 5 hypotheses. Therefore, this study demonstrated the factors that influence the purchase intention of non-fungible tokens. This study concluded that possessiveness, herding, subjective norm, attitude had a statistically significant effect on Purchase intention. NFT research is just getting started, and there are not many empirical studies targeting investors, interested people, and companies. In this respect, this study will be able to provide useful information for NFT research.

• KIPS Transactions on Computer and Communication Systems
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• v.11 no.11
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• pp.403-410
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• 2022

Non-Fungible Tokens (NFTs) created on the basis of blockchain have their own unique value, so they cannot be forged or exchanged with other tokens or coins. Using these characteristics, NFTs can be issued to digital assets such as images, videos, artworks, game characters, and items to claim ownership of digital assets among many users and objects in cyberspace, as well as proving the original. However, interest in NFTs exploded from the beginning of 2020, causing a lot of load on the blockchain network, and as a result, users are experiencing problems such as delays in computational processing or very large fees in the mining process. Additionally, all actions of users are stored in the blockchain, and digital assets are stored in a blockchain-based distributed file storage system, which may unnecessarily expose the personal information of users who do not want to identify themselves on the Internet. In this paper, we propose an NFT platform using cloud computing, access gate, conversion table, and cloud ID to improve usability and privacy problems that occur in existing system. For performance comparison between local and cloud systems, we measured the gas used for smart contract deployment and NFT-issued transaction. As a result, even though the cloud system used the same experimental environment and parameters, it saved about 3.75% of gas for smart contract deployment and about 4.6% for NFT-generated transaction, confirming that the cloud system can handle computations more efficiently than the local system.

• Proceedings of the Korean Society of Computer Information Conference
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• 2022.07a
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• pp.599-602
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• 2022

글로벌 NFT 시장의 성장과 기술의 발전으로 기존의 디지털 아트 뿐만 아니라 다양한 산업군에서 NFT 기술을 도입하고 있다. 게임 산업은 NFT 기술을 적극적으로 도입하고 있다. 이에 따라 본 논문에서는 NFT 기술을 접목하여 개발한 게임(이하 'NFT 게임')에 대한 사람들의 인식을 조사하였다. 기존에 게임을 즐기던 게임유저들에게 NFT 개념에 대한 기본적인 이해도, NFT 기술의 게임 적용 유무에 대한 찬반, NFT 게임과 기존 게임에서의 결제 성향 차이 등을 조사하여 향후 게임 산업에서 NFT 기술을 접목할 때 유저들의 의견을 반영하는 것에 연구의 목적이 있다.

• The Journal of Information Systems
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• v.32 no.1
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• pp.53-84
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• 2023

Purpose The purpose of this study is to understand the factors that influence the purchasing behavior of NFT collectibles consumers, using the value-based acceptance model (VAM). As the use of NFTs is predicted to become more widespread in the near future, it is important to explore how these consumers make purchasing decisions. Design/methodology/approach This study employed text analysis and in-depth interviews to identify the factors of benefits and sacrifices perceived by consumers. Based on the results of the exploratory study, a research model and hypotheses were established. To test the hypotheses, an online survey was conducted, and the data was analyzed using a structural equation model. Findings The major findings of this study showed that perceived benefit factors had a significant positive impact on consumers' perceived value of NFT collectibles, whereas perceived sacrifice factors did not have a significant effect on perceived value. Also, when consumers' social needs were met, their perceived value was highest. Lastly, the effect of perceived value on purchase intention was not affected by the level of psychological ownership.

• International Journal of Internet, Broadcasting and Communication
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• v.15 no.1
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• pp.23-32
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• 2023

Since NFTs can be used like certificates due to the nature of blockchain, their use in various digital asset trading markets is expanding. This is because NFTs are expected to be actively used as a core technology of the metaverse virtual economy as non-transferable NFTs are developed. However, concerns about NFT security threats are also growing. Therefore, the purpose of this study is to investigate and analyze NFT-related infringement cases and to clearly understand the current security status and risks. As a research method, we determined NFT security areas based on previous studies and analyzed infringement cases and threat types for each area. The analysis results were systematically mapped in the form of domain, case, and threat, and the meaning of the comprehensive results was presented. As a result of the research, we want to help researchers clearly understand the current state of NFT security and seek the right research direction.