• The Journal of the Convergence on Culture Technology
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• v.8 no.6
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• pp.215-222
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• 2022

This study summarizes the basic concepts of NFT art and analyzes trends in the domestic and international NFT market to provide a better understanding of the art form to suggest various ways to utilize the art in near future when social interests in technologies such as metaverse, block chain, and NFTs are continuously increasing. In addition, by examining the rapid development and process of blockchain technology in overseas markets, and confirming cases of information transfer to various metaverses such as cryptocurrency and NFT technology, the aim is to present a foothold for the future direction of national arts in general. To this end, in order to analyze consumers' perceptions and preferences, and to draw conclusions about current NFT arts at home and abroad, a survey was conducted on NFT awareness among participants of an art fair in Gwangjin-gu, Seoul. It is hoped that this study will become a cornerstone of research on NFT works and NFT art industry, which is becoming a global issue.

• The Journal of the Convergence on Culture Technology
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• v.8 no.4
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• pp.397-405
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• 2022

NFT art is a new art formed based on NFT technology. This is attracting great attention in the existing art world and art market. Therefore, it is required to analyze whether NFT art can establish itself as a new area of art. Therefore, the formation and development process of NFT art is analyzed from the perspective of Actor-Network Theory of Science and Technology and Studies, and the case of NFT artist 'beeple' is a representative example. It also discusses the artistic value of NFT art and its relationship with traditional art networks based on the aesthetics of science and technology researcher Graham Harman. In particular, it analyzes the future and genre sustainability of NFT art through the case of NFT project "Cryptopunks" and "PUNKISM" advocating a new art genre. By analyzing NFT art with ANT, I would like to raise a technical, aesthetic, and philosophical questions and propose a positive prospect as a new art genre.

• Journal of the Korea Society of Computer and Information
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• v.28 no.2
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• pp.47-53
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• 2023

In this paper, based on the generalization and popularization of NFT, the utilization idea of using NFT in e-sports was proposed. We considered ways to utilize NFTs to make access to e-sports easy for all users and to secure users from various age groups. To this end, cases of NFTs with diversity in e-sports platforms were analyzed by type, and the degree of use of NFTs in e-sports was identified through a survey. As a result of the study, it was found that the NFT experience in the e-sports game was highly satisfactory and the desire to experience it again was strong. As NFTs have ownership and scarcity as important characteristics, they can respond well to the demand for owning unique items in e-sports. In addition, in marketing, by promoting limited edition products with scarcity, it is possible to promote marketing that creates value with high profitability. When using NFT in e-sports, various NFT functions are combined regardless of the type of sport, so NFT can become an economic infrastructure.

• Journal of the Korea Society of Computer and Information
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• v.28 no.5
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• pp.49-56
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• 2023

Currently, e-commerce is changing from a digital twin to a metaverse world. The metaverse world is an intermediate form between virtual and real worlds and is operated as a coin-based meta-commerce. In this meta-commerce world, blockchain-based NFT coins are used when trading items (contents). In this study, we studied how to issue a large number of NFT coins (certification) rather than issuing a single type of NFT. The research method was designed to produce content layer-based and automatically create the desired quantity using a mass NFT index and automatic generation method. In this study, a layer overlap method (background, body, etc.) was used with a Phyton-based program for mass minting. As a result, it can be used as a blockchain-based certificate that can prove a group of many people. In addition, the content created with the NFT index was registered on the NFT sales site to confirm its utilization and value.

• Proceedings of the Korean Society of Computer Information Conference
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• 2022.07a
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• pp.599-602
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• 2022

글로벌 NFT 시장의 성장과 기술의 발전으로 기존의 디지털 아트 뿐만 아니라 다양한 산업군에서 NFT 기술을 도입하고 있다. 게임 산업은 NFT 기술을 적극적으로 도입하고 있다. 이에 따라 본 논문에서는 NFT 기술을 접목하여 개발한 게임(이하 'NFT 게임')에 대한 사람들의 인식을 조사하였다. 기존에 게임을 즐기던 게임유저들에게 NFT 개념에 대한 기본적인 이해도, NFT 기술의 게임 적용 유무에 대한 찬반, NFT 게임과 기존 게임에서의 결제 성향 차이 등을 조사하여 향후 게임 산업에서 NFT 기술을 접목할 때 유저들의 의견을 반영하는 것에 연구의 목적이 있다.

• 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.

• 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.

• The Journal of the Convergence on Culture Technology
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• v.10 no.3
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• pp.731-737
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• 2024

This study conducted a quantitative research on the artistic perception and acceptance of value among buyers of commodified digital art known as NFT artworks. NFTs, digital assets, have shown rapid growth as investment products, but recently there has been a trend of declining value. However, NFT art, characterized by uniqueness and scarcity, continues to undergo continuous development to create new opportunities and values. Nonetheless, there are also negative opinions regarding NFT art itself as a form of technological art, as well as concerns about copyright disputes and fears of a bubble due to the conversion of physical artworks into NFTs. Predicting the value of artworks targeting specific demographics is difficult, and the value of innovative art such as NFT art, which changes along with the fluctuation of cryptocurrency values, is even more challenging to predict. Therefore, through research on the buyers who play a crucial role in the growth and development of this new form of art, the study aims to contribute to the expansion of NFT art.

• The Journal of the Korea Contents Association
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• v.22 no.3
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• pp.17-34
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• 2022

Although NFTs are a new technology with a fast-growing industry, the studies for consumer protection and promotion are insufficient. Thus, this study analyzes the relationship of variables that affect intention to use NFT based on the UTUAT model, additionally, moderating effect of NFT types and crypto investment experience. Subjects of this study are limited to potential NFT users. The independent variables such as performance expectations, network externality, and innovation are statistically significant, however, the moderating effect is not suggested. With low awareness, the tendencies of subjects lead to adoption rather than technical understanding.

• Trans-
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• v.14
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• pp.1-33
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• 2023

In the Web 3.0 era, the third generation of web technologies that uses blockchain technology to give creators ownership of data, metaverse is a crucial trend for developing a creator economy. Web 3.0 aims for a value in which content creators are compensated from participation without being dependent on the platform. Blockchain NFT technology is crucial in metaverse, a vital component of Web 3.0, to ensure the ownership of digital assets. Based on the theory that investigates the concept and characteristics of metaverse, this study identifies five features of the metaverse based NFT art ①'Continuity', ②'Presence', ③ 'Concurrency', ④'Economy', ⑤ 'Application of technology'. By focusing on metaverse based NFT art <Hybrid Nature> case study, we analyzed how the concepts and characteristics of the metaverse and NFT art were reflected in the work. This study focuses on the concept of NFT art, which is emerging at the intersection of art, technology and industry, and emphasizes the importance of finding creative, aesthetic, and cultural values rather than the NFT art's potential for financial gain. It is still in its early stage for academic studies to focus on the aesthetic qualities of NFT art. Future academics and researchers can find this study to gain deeper understanding of the traits and artistic, creative aspects of metaverse based NFT art.