• Journal of Information Technology Applications and Management
• /
• v.30 no.1
• /
• pp.115-126
• /
• 2023

In various fields such as art, design, music, film, sports, games, and fashion, NFTs (Non-Fungible Tokens) are creating new economic value through trading platforms dedicated to NFT art and content. In this article, I analyze the current state of blockchain technology and NFT art content in the context of an expanding market for blockchain-based NFT art content in the metaverse. I also propose several tasks based on the economic and industrial logic of technological innovation. The first task proposed is to integrate cultural arts on blockchain, metaverse, and NFT platforms through digital innovation, instead of separating or distinguishing between creative production and consumption. Before the COVID-19 pandemic, there was a clear separation between creators and consumers. However, with the rise of Web 3.0 platforms, any user can now create and own their own content. Therefore, it is important to promote a collaborative and integrated approach to cultural arts production and consumption in the blockchain and metaverse ecosystem. The second task proposed is to align the legal framework with blockchain-based technological innovation. The enactment and revision of relevant laws should focus on promoting the development of the NFT trading platform ecosystem, rather than merely regulating it for user protection. As blockchain-based technology continues to evolve, it is important that legal systems adapt to support and promote innovation in the space. This shift in focus can help create a more conducive environment for the growth of blockchain-based NFT platforms. The third task proposed is to integrate education on digital arts, including metaverse and NFT art contents, into the current curriculum. This education should focus on convergence and consilience, rather than merely mixing together humanities, technology, and arts. By integrating digital arts education into the curriculum, students can gain a more comprehensive understanding of the potential of blockchain-based technologies and NFT art. This article examines the digital technological innovation such as blockchain, metaverse, and NFT from an economic and industrial point of view. As a limitation of this research, the critical mind such as philosophical thinking or social criticism on technological innovation is left as a future task.

• The Journal of the Convergence on Culture Technology
• /
• v.8 no.1
• /
• pp.261-269
• /
• 2022

The advent of the pandemic era due to COVID-19 is causing new changes in all areas of individuals, organizations, society and the country. The art market also faced a crisis due to restrictions on individual movement between regions and countries and social distancing, and even the contents of the work, the way the work is traded, and the propensity and characteristics of the buyer are changing. These demands for change in the art market are accelerating new opportunities for change by converting digital, expanding the online art market, expanding virtual space using VR(Virtual Reality) and AR(Augmented Reality) technology, and expanding the trading area of digital works NFT based on blockchain technology. In this study, the flow of change in the art market brought about by the Pandemic era is analyzed from the perspective of digital transformation. The contents of digital acceptance of the art market are identified through a summary of various types of digital transformation in the art market and a survey of perceptions following the introduction of digital transformation and NFT. Discuss major legal, economic, social, and transactional issues and countermeasures following the introduction of NFT based on blockchain technology in the art market.

• Journal of Information Technology Applications and Management
• /
• v.29 no.2
• /
• pp.1-15
• /
• 2022

Image has more power in the 21st century than ever before. With the advance in technology and media, image is either made or received more easily and promptly using digital technology. Because of that, it has been hard for digital images to gain value as a work of art. But after NFT technology was developed and then applied to digital images, we have come to distinguish the original from the copy of it. People are trying various ways to allow digital images to be acknowledged as art, and changing the nature of digital images that makes new paradigms in the history of art. Through NFT artworks rising as a new style, this paper analyzed and investigated the new properties and changing characteristics of digital images in order to anticipate the characteristics of artworks that the public produces, enjoys, and consumes. This study is grounded on experimental analysis methods, and this author expects that it can contribute to figuring out which kinds of visual culture and artworks digital image is influencing currently from various perspectives.

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

• The Journal of the Convergence on Culture Technology
• /
• v.9 no.6
• /
• pp.365-370
• /
• 2023

Royalty contributed to the development of the non-fungible token (NFT) ecosystem as a reward system that pays a portion of the sales to the creator whenever transactions occur. This study quantitatively analyzes the impact of the abolition of royalties, which is being expanded by some NFT marketplaces, on the NFT market, and qualitatively analyzes the results of the impact. The analysis results are as follows. First, the number of NFT mints is decreasing by causing creators to leave the NFT market and reducing new entry. Second, major NFT projects have refused to trade with marketplaces that have abolished royalties, leading to a decrease in the number of transactions. Third, the abolition of royalties has undermined the motivation of NFT creators to continue to develop their projects, leading to a drop in NFT floor prices. This study is expected to contribute to reducing the current negative impact in the short term by suggesting how the NFT community provides incentives to owners who voluntarily pay royalties independently of the policy of the NFT marketplace. In addition, it suggests that in the long run, fundamental solutions to the problem of abolishing royalties require improvements in technology related to royalty payments, cooperation between NFT marketplaces and NFT creators, and institutional support related to royalties.

• The Journal of the Convergence on Culture Technology
• /
• v.8 no.1
• /
• pp.523-529
• /
• 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 the Semiconductor & Display Technology
• /
• v.20 no.4
• /
• pp.187-191
• /
• 2021

In the digital world, the transactions of assets with intrinsic value can be applied to games, literature, art, and music by issuing NFTs (Non-Fungible Tokens) based on Blockchain; various NFT exchanges are emerging accordingly just like real world asset exchanges. However, there could be an issue of copyright infringement in those NFT transactions. Therefore, this paper has classified the types of copyright infringement that may occur in NFT exchanges and proposes the copyright infringement countermeasures according to them. For this purpose, 10 types of NFT exchange are examined. Eventually, it can be expected that the proposed countermeasures will contribute to the revitalization of the NFT market by providing solutions for those issues.

• Journal of Information Technology Services
• /
• v.21 no.4
• /
• pp.105-122
• /
• 2022

NFTs, which guarantee ownership of digital files using blockchain technology, are the new field for the content industry. The NFT provided new opportunities for content creators to trade digital contents without going through mediation freely. Additionally, collectors and investors can safely and easily own their works without the threat of illegal copies. However, since only a limited number of content creators are participating in the NFT market, there needs to be an influx of various content creators and a process of popularization for this market to grow and develop into the main stage. Furthermore, research on NFT has been limited, and understanding the drivers of creators choosing to participate in NFT is insufficient. Thus, this study aims to identify the factors affecting content creators participating in NFT by applying a mixed-methods approach and presenting practical implications. Using topic modeling and in-depth interviews, this study derives the positive and negative factors and suggests strategies to activate content creators' participation in the NFT market. Through this, we can guide that management implication to reduce the risks and costs of participating in NFTs is needed to encourage the participation of creators. It will also provide insight into ways to develop the NFT content market.

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

• International journal of advanced smart convergence
• /
• v.12 no.4
• /
• pp.334-343
• /
• 2023

A research model was developed in this study from previous research to illustrate the relationship among perceived scarcity, assumed expensiveness of art products, perceived functional value, perceived symbolic value as well as purchase for self and others. 639 valid cases who have experienced NFT art products have been collected for data analyses. The R software has been chosen for analysis. The results have revealed that perceived scarcity was positively related to perceived functional value and perceived symbolic value, but it was assumed that the expensiveness of art products was not significantly related to perceived functional value or perceived symbolic value. Moreover, functional value was significantly related to the purchase intention of both self and others, while symbolic value only was significantly affected by the purchase intention of others. The results of this study have provided managerial implications for future studies.