• The Journal of the Convergence on Culture Technology
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• v.8 no.1
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• pp.261-269
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• 2022

The advent of the pandemic era due to COVID-19 is causing new changes in all areas of individuals, organizations, society and the country. The art market also faced a crisis due to restrictions on individual movement between regions and countries and social distancing, and even the contents of the work, the way the work is traded, and the propensity and characteristics of the buyer are changing. These demands for change in the art market are accelerating new opportunities for change by converting digital, expanding the online art market, expanding virtual space using VR(Virtual Reality) and AR(Augmented Reality) technology, and expanding the trading area of digital works NFT based on blockchain technology. In this study, the flow of change in the art market brought about by the Pandemic era is analyzed from the perspective of digital transformation. The contents of digital acceptance of the art market are identified through a summary of various types of digital transformation in the art market and a survey of perceptions following the introduction of digital transformation and NFT. Discuss major legal, economic, social, and transactional issues and countermeasures following the introduction of NFT based on blockchain technology in the art market.

• 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.

• Trans-
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• v.16
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• pp.33-68
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• 2024

In a rapidly growing digital economic environment, NFT has emerged as a hot topic in the art field. However, in China, NFT art is developing slowly due to constraints related to China's political economy and socio-cultural situation. Due to strict management and control, the circulation of cryptocurrency is limited, and the level of public awareness and acceptance of NFT art and market maturity are still low. Despite these limitations, this paper predicts that Chinese art creators and market participants can build an online personal art IP model that suits the characteristics of the Chinese market and explores the current status and possibilities.

• Trans-
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• v.13
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• pp.1-16
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• 2022

Recently, the method of contacting and purchasing NFT art has been popularly evolving, and various prospects and predictions for NFT art have emerged. The discussion of NFT art is mainly a hot topic in terms of market size, profit, and sustainability. As the transition to digital accelerated after COVID-19, almost all genres of culture and arts faced a forced transition with the topic of combining digital and technology, but in terms of profitability, it was generally difficult to guarantee positive continuity. On the other hand, the combination of art and blockchain, and the new distribution method called NFT, attracted a lot of attention by causing fundamental changes that lead to technological transformation, continuity through profit creation, and even genre expansion of visual art. The discourse on NFT and the art market is a recent phenomenon and is being discussed focusing on statistics and numerical reports through data from newspapers and art-related research institutes rather than academic analysis or research. However, discussions related to NFT art should be considered in various aspects, such as the incorporation of technology and art, changes in distribution methods, and changes in creative methods according to media changes, not just short stories of phenomena such as high prices and winning bids. In this paper, we would like to examine the impact of changes in creators and distribution methods.

• 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.

• 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 Institute of Internet, Broadcasting and Communication
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• v.22 no.5
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• pp.55-61
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• 2022

With the rapid development of information technology, Metaverse and Non-Fungible Token (hereinafter referred to as NFT) technology will not only create new supply and demand markets for digital art creators, but also for existing art writers. As interest in and trading of virtual assets and coins increases, so does the demand for digital art trading in the NFT market. This study examines the theoretical content of NFTs, blockchains, and Metaverse, and analyzes various expressions of NFT art that are currently popular. As the case study, 100 projects were selected and analyzed in the overall OpenSea ranking, which included 2D graphics, 3D graphics and motion graphics works. Then, from the perspective of creators, the graphic styles of NFT digital art are divided into 4 types: 2D graphics, 3D graphics, 2D dynamic graphics, 3D dynamic graphics, and analyzed and studied. It is hoped that in the future, this study can suggest the direction of creating graphic styles to digital art NFT creators.

• Journal of Information Technology Services
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• v.21 no.4
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• pp.105-122
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• 2022

NFTs, which guarantee ownership of digital files using blockchain technology, are the new field for the content industry. The NFT provided new opportunities for content creators to trade digital contents without going through mediation freely. Additionally, collectors and investors can safely and easily own their works without the threat of illegal copies. However, since only a limited number of content creators are participating in the NFT market, there needs to be an influx of various content creators and a process of popularization for this market to grow and develop into the main stage. Furthermore, research on NFT has been limited, and understanding the drivers of creators choosing to participate in NFT is insufficient. Thus, this study aims to identify the factors affecting content creators participating in NFT by applying a mixed-methods approach and presenting practical implications. Using topic modeling and in-depth interviews, this study derives the positive and negative factors and suggests strategies to activate content creators' participation in the NFT market. Through this, we can guide that management implication to reduce the risks and costs of participating in NFTs is needed to encourage the participation of creators. It will also provide insight into ways to develop the NFT content market.

• 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 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.