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Non-fungible Tokens and Their Applications

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Information Systems and Technologies (WorldCIST 2023)

Part of the book series: Lecture Notes in Networks and Systems ((LNNS,volume 802))

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Abstract

We are moving toward digitization, and the word used most frequently while describing it is “money.” This is backed up by “Bitcoins,” a type of virtual currency that can be traded via Blockchain, a distributed ledger technology. Bitcoins are essentially extended sequences of code that have been changed to take on monetary value. However, Non-fungible tokens (NFTs) were created in late 2017 as a brand-new class of distinct and undivided blockchain-based currency. While fungible tokens have enabled new use cases, such as initial coin offerings, it is unclear if NFTs will be applicable. NFTs advance the reinvention of this infrastructure by enabling digital representations of physical assets. Because this technology is distributed and immutable, it is difficult to modify, replicate, or fake transactions. This study attempts to assist and educate the research community about this new disruptive technology and direct them in the correct steps for blockchain technology adoption.

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Author information

Authors and Affiliations

  1. Computer Engineering and Computer Science, California State University, Long Beach, CA, USA

    Jeet Patel, Delicia Fernandes, Darshkumar Jasani, Kunjal Patel & Muhammad Abdul Basit Ur Rahim

Authors
  1. Jeet Patel
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  2. Delicia Fernandes
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  3. Darshkumar Jasani
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  4. Kunjal Patel
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  5. Muhammad Abdul Basit Ur Rahim
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Corresponding author

Correspondence to Muhammad Abdul Basit Ur Rahim .

Editor information

Editors and Affiliations

  1. ISEG, Universidade de Lisboa, Lisbon, Cávado, Portugal

    Alvaro Rocha

  2. College of Engineering, The Ohio State University, Columbus, OH, USA

    Hojjat Adeli

  3. Institute of Data Science and Digital Technologies, Vilnius University, Vilnius, Lithuania

    Gintautas Dzemyda

  4. DCT, Universidade Portucalense, Porto, Portugal

    Fernando Moreira

  5. TeCIP Institute, Scuola Superiore Sant’Anna, Pisa, Italy

    Valentina Colla

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Patel, J., Fernandes, D., Jasani, D., Patel, K., Abdul Basit Ur Rahim, M. (2024). Non-fungible Tokens and Their Applications. In: Rocha, A., Adeli, H., Dzemyda, G., Moreira, F., Colla, V. (eds) Information Systems and Technologies. WorldCIST 2023. Lecture Notes in Networks and Systems, vol 802. Springer, Cham. https://doi.org/10.1007/978-3-031-45651-0_29

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