Loading article...
Loading article...
Stream/Area:
-
Subject:
-
Paper ID:
10.55041/IJSREM21844
Volume:
7 |
5 |
May 2023
Pages:
Publication Frequency:
Monthly (12 issues per year)
License:International Journal of Scientific Research in Engineering and Management follows the Creative Commons Attribution 4.0 (CC BY 4.0) License, allowing free use and distribution with proper attribution.
Blockchain technology is poised to bring about a paradigm shift in the business environment, offering substantial benefits in the near future. Non-fungible Tokens are digital representations of material possessions like artwork, recordings, assets within the game, and films. These tokens are traded via the internet with multiple cryptocurrencies. NFTs have their own distinct characteristics from fungible tokens, which may be traded without restriction on numerous centralized or decentralized exchanges.Each NFT carries a unique digital signature that precludes its exchange for another NFT, and its value is determined by factors such as metadata, creator, and features. It is unambiguous that the integration of blockchain and NFTs give a unique possibility for artists and content producers to earn financial reward for their creative efforts, liberating them from reliance on conventional galleries for sales. Artists may now sell their paintings directly to buyers via NFTs, allowing them to maximize income while maintaining control over their creative rights. Furthermore, NFTs have the alluring feature of royalties, in which original authors get a percentage of the revenues when their NFTs are transferred to a new account. NFTs exhibit diverse use cases, with the NFT marketplace serving as the central hub for minting and trading these unique tokens, providing users with a comprehensive platform to engage in such activities. The NFT marketplace solution constitutes a robust platform that empowers users to create, purchase, and trade assets supported by non-fungible tokens. Built on blockchain networks, this platform ensures seamless support for NFT assets. Users can actively participate in trading NFTs with one another or engage in buying and selling operations through the decentralized NFT marketplace, thereby leveraging the full potential of this innovative ecosystem.
KEYWORDS
Publication Date
5/24/2023
Peer Review Type
Double-Blind Peer Review
Review Rounds: 2
Documents
Article Views
0
Total views since publication
PDF Downloads
1
Total downloads since publication
Geographic Reach
5
Digital Preservation: This article is permanently archived on Zenodo and complies with all data preservation standards across major indexing platforms.
Plagiarism Screening
This manuscript has been checked for plagiarism using TurnitinPlagiarismChecker software.
Conflict of Interest
The authors declare no conflict of interest related to this research work.
Funding Information
No funding information available for this research.
Related research in the same subject area
Loading similar articles...