Non-Fungible Tokens

Research Overview

Author: Alan Majer
Release Date: August 30, 2019

Abstract:

This project explores a type of cryptoasset, the non-fungible token (NFT), or what we call the crypto collectible. It explains the concept of the NFT and illustrates how it works through the best-known NFTs, CryptoKitties, a phenomenon of an asset within the Ethereum-based CryptoKitties game. It revealed how businesses might create and use digitally unique and scarce assets beyond cryptocurrencies in their business models. The project also covers the online gaming market—both packaged software and downloadable content—and describes how companies might tokenize their intangible and physical assets.

Copyright 2019 Blockchain Research Institute – not for distribution

Non-Fungible Tokens Infographic

Related Content

The Metaverse Goes Mainstream

Today we’re witnessing a Cambrian explosion of metaverses driven by technological advances in software, hardware, and bandwidth and bursts of creativity in gaming, social experiences, and enterprise use cases. In these virtual-reality environments, blockchains protect individual rights, identities, and assets in a decentralized manner, and support token-driven incentive systems. This research presents the latest developments in the marketplace, the tenets of successful metaverses (e.g., openness, transparency of rewards, enforceable rules of engagement), and the role of blockchain innovation. Businesses and governments as well as healthcare and education sectors have opportunities to learn from, if not leverage, these technologies in training, team building, collaborating, problem solving, customer engagement, and modeling civil society.

Read More

Filecoin and the Future of Decentralized Cloud Storage

Filecoin is a decentralized protocol that anyone can download to rent out spare storage space on their computer. An alternative to traditional cloud storage, the Filecoin blockchain-based storage solution leverages a peer-to-peer architecture, creating massively scalable storage capacity without building massive new infrastructure. Instead of entrusting one company to store and protect valuable digital assets and documents in a single jurisdiction, customers can split up and store their assets on different computers around the world. The low barriers to entry and the economic rewards for miners make for ample supply of storage, keeping fees quite attractive; and the dispersion of files makes them difficult to hack, seize, or take down. This research walks executives through enterprise use cases and the benefits of participating in decentralized storage networks.

Read More
Subscribe