• Journal of Korea Society of Industrial Information Systems
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• v.27 no.5
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• pp.61-72
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• 2022

Web 3.0 is also called the "next-generation Internet" and is a new concept that started in 2018 and is attracting attention as the beginning of the "distributed Internet era". As Web 3.0 became mainstream, non-fungible tokens (NFTs) serving as content as services were distributed, and companies started to introduce NFTs in their marketing campaigns. This is because NFTs can be used to promote brands to new consumers. In this study, using Japan's 「HARTi」 NFT Art as an example, we investigate a new method using urban infrastructure and spaces, not NFTs that exist only in the Japanese art market and online. By analyzing social issues following the introduction of a new digital marketing method based on NFT Art, we will discuss issues and countermeasures in the domestic NFT Art market and present a positive outlook.

• The Journal of the Convergence on Culture Technology
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• v.7 no.4
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• pp.667-673
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• 2021

Unauthorized generations and sales of non-funable tokens (NFTs) without the consent of the creator is one of the biggest problems that arise in NFT Marketplaces. This study proposes a method to practically reduce the problem of NFT sales without the consent of the creator by means of authentication with social media accounts. Through the proposed method, creators who are already using social media as a means of communication and marketing for creative activities can authenticate with their own accounts. Creators who have difficulty authenticating with their own accounts will be provided with alternatives to authenticate using human networks. In addition, the proposed method of protecting creator rights was designed using a flowchart to enable development using only the public API (Application Programming Interface) provided by social media. The proposed method can protect creators' rights and reduce damage caused by NFT fraud by inducing buyers to trade NFTs of authorized sellers through social media.

• 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.

• Journal of Information Processing Systems
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• v.20 no.2
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• pp.273-283
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• 2024

The digital domain has witnessed unprecedented growth, reshaping the way we interact, work, and even perceive reality. The internet has evolved into a vast ecosystem of interconnected virtual worlds, giving birth to the concept of the Metaverse. The Metaverse, often envisioned as a collective virtual shared space, is created by the convergence of virtually enhanced physical reality and interactive digital spaces. Within this Metaverse space, the concept of ownership, identity, and authenticity takes on new dimensions, necessitating innovative solutions to safeguard individual rights. The digital transformation through Metaverse has also brought forth challenges, especially in copyright protection. As the lines between the virtual and physical blur, the traditional notions of ownership and rights are being tested. The Metaverse, with its multitude of user-generated content, poses unique challenges. The primary objective of this research is multifaceted. Firstly, there's a pressing need to understand the strategies employed by non-fungible token (NFT) marketplaces within the Metaverse to strengthen security and prevent copyright violations. As these platforms become centers for digital transactions, ensuring the authenticity and security of each trade becomes paramount. Secondly, the study aims to delve deep into the foundational technologies underpinning NFTs, from the workings of blockchain to the mechanics of smart contracts, to understand how they collectively ensure copyright protection. Thus, in this paper, we propose a quantum based NFT solution that can secure Metaverse and copyright contents in an advanced manner.

• 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.

• KIPS Transactions on Software and Data Engineering
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• v.12 no.9
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• pp.419-430
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• 2023

Currently, NFTs have no dominant application except for the proof of ownership for digital content, and it also have small liquidity problem, which makes their price difficult to predict. Real estate usually has very high barriers to investment due to its high pricing. Real estate can be converted into NFTs and also divided into small value fungible tokens (FTs), and it can increase the the volume of the investor community due to more liquidity and better accessibility. In this document, we implement and design a system that allows ordinary users can invest on high priced real estate utilizing Black Litterman (BL) model-based Portfolio investment interface. To this end, we target a set of real estates pegged as collateral and issue NFT for the collateral using blockchain. We use oracle to get the current real estate information and to monitor varying real estate prices. After tokenizing real estate into NFTs, we divide the NFTs into easily accessible price FTs, thereby, we can lower prices and provide large liquidity with price volatility limited. In addition, we also implemented BL based asset portfolio interface for effective portfolio composition for investing in multiple of real estates with small investments. Using BL model, investors can fix the asset portfolio. We implemented the whole system using Solidity smart contracts on Flask web framework with public data portals as oracle interfaces.

• 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 Information Technology Applications and Management
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• v.30 no.1
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• pp.115-126
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• 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 Korean Journal of Food & Health Convergence
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• v.8 no.2
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• pp.1-6
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• 2022

Purpose: This study aims to examine the opportunities in the food industry in the context of non-fungible tokens (NFTs) and the metaverse. The metaverse expands offline experiences into a virtual space and provides users with the advantage of overcoming the limitations of physical space. Research design, data and methodology: With the development of various contents based on advanced technology, the metaverse is becoming popular among the MZ generation (comprising millennials and Gen Zs), who are skilled at navigating digital platforms. Moreover, the previously entertainment game focused service has expanded to the business field after COVID-19; activities on the metaverse are now making space for economic value creation. I examined the recent global trends in the context of NFTs and the metaverse as well as the existing cases in Korea. Results: Globally, gaming and performance platforms such as Roblox, Fortnite etc. are still concentrated in the entertainment industry. However, as shown by ZEPETO and ifland in Korea there are many opportunities in the retail and food industries. Conclusions: We analyzed the ecosystems of the retail and food and beverage sectors, where the metaverse will be useful in the future, and have suggested the implications of the opportunities provided by the metaverse.

• International Journal of Internet, Broadcasting and Communication
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• v.16 no.3
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• pp.64-76
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• 2024

We study three sports media start-ups that seek to promote business model innovation (BMI) in which Web 3.0 and metaverse are converged. In results, LM starts from an innovative digital space platform offering a unique combination of virtual real estate, games, and non-fungible tokens (NFTs) which come with real-world earning potential. It creates value by integrating virtual real estate, training academies, blockchain games, and meta shops to offer a unique experience, capture value by offering monetization tools for buying and trading limited edition NFTs of favorite influencers from various sports leagues, offering access to premier real-world events and VIP game contests, and delivers value by building community to play games with favorite athletes or teams including trivia games, allowing fans to engage with their favorite athletes in a unique exclusive way. SL starts from the customizable digital identities especially for young sports fans like generation (gen) Z to play, hang out, and express themselves with their own avatars. SI starts from a leading Web3.0 metaverse innovator creating NFTs with the greatest athletes of all time, allowing athletes and creators to set up a profile and mint NFTs directly onto the blockchain. It tries to have the partnerships with great athletes revolutionizing the sports media industry to connect sports heroes and their super fans through an immersive, artistic, inspirational NFTs and unlockable content creating a sticky community between them.