• The Journal of the Convergence on Culture Technology
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• v.8 no.1
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• pp.523-529
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• 2022

Art sponsorship contributed to the development of culture and art by supporting art activities to be financially stable. Various problems in the non-fungible tokens (NFTs) market, such as speculative transactions, are also expected to be improved through sound art sponsorship. This study proposes methods of implementing art sponsorship using NFTs and smart contracts. First, we propose a method of posting the acknowledgement of art sponsorship using NFT metadata. Second, we propose a method to remit sponsorship funds according to the project schedule using time-locked wallets. Third, we propose a method to remit sponsorship funds when major events of the project occur or requirements are met using Event-Driven Execution. The proposed methods can be used to share the fact about art sponsorship and safely fund it. However, many decisions about art projects must be made based on information generated outside the blockchain, which can lead to Oracle problems, so further research is needed.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.34 no.4
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• pp.641-649
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• 2024

This paper addresses the issue of anonymity protection in the trading of Real-World Asset (RWA) tokens, a prominent topic in the cryptocurrency market in recent years. The principle of transparency inherent in blockchain technology makes it challenging to ensure the anonymity of traders. Although there have been instances in existing blockchain research where mixer services have been utilized to protect the privacy of Fungible Tokens (FTs), and prior studies have explored the privacy protection for Non-Fungible Tokens (NFTs), RWA tokens, which can embody characteristics of both FTs and NFTs and are tied to physical assets, present a complex challenge in achieving the goal of anonymity protection through any single method. This paper proposes a hypothetical token trading platform, ARTeX, and describes the trading process to analyze measures for protecting the anonymity of RWA token transactions.

• 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.28 no.12
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• pp.41-48
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• 2023

In this paper, we propose an analysis of recent trends in the NFT (Non-Fungible Token) industry using topic modeling techniques, focusing on their universal application across various industrial fields. For this study, patent data was utilized to understand industry trends. We collected data on 371 domestic and 454 international NFT-related patents registered in the patent information search service KIPRIS from 2017, when the first NFT standard was introduced, to October 2023. In the preprocessing stage, stopwords and lemmas were removed, and only noun words were extracted. For the analysis, the top 50 words by frequency were listed, and their corresponding TF-IDF values were examined to derive key keywords of the industry trends. Next, Using the LDA algorithm, we identified four major latent topics within the patent data, both domestically and internationally. We analyzed these topics and presented our findings on NFT industry trends, underpinned by real-world industry cases. While previous review presented trends from an academic perspective using paper data, this study is significant as it provides practical trend information based on data rooted in field practice. It is expected to be a useful reference for professionals in the NFT industry for understanding market conditions and generating new items.

• Proceedings of the Korean Society of Computer Information Conference
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• 2022.07a
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• pp.547-548
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• 2022

본 논문에서는 디지털 노마드들이 활동하는 인터넷 환경에서 좀 더 진화된 형태의 메타버스 플랫폼 환경에서는 물론 컴퓨터를 활용한 디지털 환경에서 적응하며 블록체인이나 NFT와 같은 가상화폐, 가상자산과 함께 융합 발전하고 있다. MZ세대 중에서 컴퓨터를 활용하는 그래픽 아티스트들의 디지털 아트활동과 좀 더 발전된 형태의 NFT아트로의 융합 발전에 대해 알아보고 디지털 노마드를 넘어 디지털 네이티브로 진화한 이러한 디지털 창작활동을 하는 아트직군의 크리에이터들이 향후 어떻게 발전하게 될지 후속 연구 방향성을 제시한다.

• Journal of Korean Society for Quality Management
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• v.52 no.2
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• pp.255-274
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• 2024

Purpose: Non-Fungible Token (NFT) ART, based on NFT technology, represents a novel form of art that has recently garnered significant attention in the art market. NFT technology enables the assertion of ownership over digital data, introducing the concept of ownership into the digital realm. As digital data gains ownership, NFT ART is anticipated to be positively viewed as an investment and expected to become more active due to the characteristics of this new technology. Therefore, this study aims to verify the influence of NFT ART characteristics on perceived value. This study contributes to extracting the distinctive characteristics of NFT ART compared to other forms of art and to understanding the perceived value of NFT ART among consumers with purchasing experience. Methods: This study applied structural equation modeling to explore the relationships among the variables using SPSS 26.0 and R program version 4.2.3. A total of 320 questionnaires were retrieved, all of which were adopted as valid analytical samples without missing values. Results: The findings indicate that the decentralization, transparency, and scarcity of NFT ART positively influence the perceived usefulness and enjoyment among consumers, while security does not have a significant impact. This suggests that higher levels of decentralization, transparency, and scarcity in NFT ART enhance perceived usefulness and enjoyment for consumers, significantly influencing the perceived value. Furthermore, it was confirmed that these characteristics are considered important values and perceptions from the consumer's perspective. Conclusion: The research presents positive factors for the activating of purchases among consumers considering buying NFT ART. It emphasizes the necessity of benefits for all participants to activate the art market. Additionally, the perceived value provides crucial insights for inducing active purchasing behavior in the NFT ART market and serves as a foundational study for further research.

• 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.

• 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.