• 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.

• International Journal of Computer Science & Network Security
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• v.24 no.7
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• pp.59-62
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• 2024

Non-fungible tokens (NFTs) are interchangeable rights to digital assets such as art, in-game items, collectibles or music, etc. NFTs have the potential to be infinitely useful in many industries by increasing security and processing costs for transactions and providing a new platform for the gigeconomy to work through. Its markets have grown fast and significantly since early 2021. We investigate the uses of NFTs and research the facts and figures on the usage of NFTs supporting websites. Using daily data between 2019 to 2021. NFTs took the world by storm in 2021, bringing forth a digital art revolution while becoming one of the fastest-growing asset classes of the year. While the NFTs market has been growing at a rapid pace, many are still wary of entering it because of the theoretical insanity around its worth. NFTs have been out there for quite some time and this trend doesn't plan to go any further. NFTs services have many practical use cases and their potential will only grow over time. While celebrities dive into this marketplace to maintain their onlinepresence andincrease their Net worth.

• 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.

• Current Optics and Photonics
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• v.6 no.6
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• pp.565-575
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• 2022

In this paper, we propose a non-fungible token (NFT) transaction method that can commercialize the real 3D property and make property sharing possible using the 3D reconstruction technique. In addition, our proposed method enhances the security of NFT copyright and metadata by using optical encryption. In general, a conventional NFT is used for 2D image proprietorial rights. To expand the scope of the use of tokens, many cryptocurrency industries are currently trying to apply tokens to real three-dimensional (3D) property. However, many token markets have an art copyright problem. Many tokens have been minted without considering copyrights. Therefore, tokenizing real property can cause significant social issues. In addition, there are not enough methods to mint 3D real property for NFT commercialization and sharing property tokens. Therefore, we propose a new token management technique to solve these problems using integral imaging and double random phase encryption. To show our system, we conduct a private NFT market using a test blockchain network that can demonstrate the whole NFT transaction process.

• Proceedings of the Korean Society of Computer Information Conference
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• 2023.07a
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• pp.447-450
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• 2023

Blockchain technology has paved the way for the rise of non-fungible tokens(NFTs) in recent years. NFTs enable the unique ownership of digital assets and harness the power of blockchain's transparency and decentralization. However, existing NFT platforms often pose barriers to entry for the public due to their technical complexity and high issuance costs. To address the problem, this paper proposes a user-friendly NFT platform with a simplified issuance process. A home page is created to allow easy NFT issuance for anyone. These advancements are expected to foster the growth of the NFT market and facilitate the development of new business models.

• The Journal of the Convergence on Culture Technology
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• v.8 no.5
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• pp.669-676
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• 2022

Non-fungible tokens (NFTs) have the advantage of being able to reliably manage details after minting, but how can ideas be protected before being converted to NFTs? The use of NFTs to increase the value of digital assets is increasing, but the problem of creating and selling NFTs without the consent of the creator is also increasing. Existing methods for protecting creators include a method of using a traditional authentication system and a method of using a social network, but each has limitations. Therefore, in this study, an identity token utilization method is proposed as a way to supplement the existing limitations. When an identity token is used, a certified NFT is issued through an existing identity authentication authority, so the verification of the authenticity of the token becomes clear. In addition, in inheritance and transfer, it becomes possible to respond to legal problems related to the transfer of creative rights.

• 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.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.34 no.4
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• pp.641-649
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• 2024

This paper addresses the issue of anonymity protection in the trading of Real-World Asset (RWA) tokens, a prominent topic in the cryptocurrency market in recent years. The principle of transparency inherent in blockchain technology makes it challenging to ensure the anonymity of traders. Although there have been instances in existing blockchain research where mixer services have been utilized to protect the privacy of Fungible Tokens (FTs), and prior studies have explored the privacy protection for Non-Fungible Tokens (NFTs), RWA tokens, which can embody characteristics of both FTs and NFTs and are tied to physical assets, present a complex challenge in achieving the goal of anonymity protection through any single method. This paper proposes a hypothetical token trading platform, ARTeX, and describes the trading process to analyze measures for protecting the anonymity of RWA token transactions.

• Journal of the Semiconductor & Display Technology
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• v.20 no.4
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• pp.187-191
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• 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.

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