2022/02/13 by Arsalan Parham, Parham, Arsalan, Corinna Breitinger +1
Arts and Humanities · Computer Science · #Art History and Market Analysis #Blockchain Technology Applications and Security #Cryptography and Security (cs.CR) #FOS: Computer and information sciences #cs.CR
paper · pdf · doi:10.48550/arxiv.2202.06354
arxiv created 2022/02/13 · openalex publication_date 2022/02/13 · arxiv updated 2022/02/15 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28
Non-fungible tokens or NFTs are the digital assets on a blockchain. NFTs are unique and they cannot be divided like cryptocurrencies. NFTs could store digital ownership of an artwork or collections or can be fan tokens or tickets for clubs. NFTs are based on a smart contract on a blockchain network which supports them, such as Ethereum, Cardano or Polkadot. Most of the NFTs are now minted on Ethereum (ERC-20) network, but it has some main issues like high transaction fees and low speed. There are lots of domains which can be benefited from NFT technology such as art, music, gaming, sport and wildlife conservation. NFTs could be also bought or sold on lots of NFT marketplaces such as OpenSea and Chiliz. The trend is in a huge hype because the market cap and popularity of NFTs are growing significantly.