Aliyev, H.; Aysan, A.F.; Kayani, U.N. Future Readiness with Non-Fungible Tokens (NFTs): Prospects and Challenges. Preprints2023, 2023020424. https://doi.org/10.20944/preprints202302.0424.v1
APA Style
Aliyev, H., Aysan, A.F., & Kayani, U.N. (2023). Future Readiness with Non-Fungible Tokens (NFTs): Prospects and Challenges. Preprints. https://doi.org/10.20944/preprints202302.0424.v1
Chicago/Turabian Style
Aliyev, H., Ahmet Faruk Aysan and Umar Nawaz Kayani. 2023 "Future Readiness with Non-Fungible Tokens (NFTs): Prospects and Challenges" Preprints. https://doi.org/10.20944/preprints202302.0424.v1
Abstract
This article discusses the impact of new financial technologies, such as Non-Fungible Tokens (NFTs) on traditional industries such as art, sports, and game, while focusing on the recently formed "Metaverse" market. As a component of the overall blockchain ecosystem, the history of the establishment of NFT is analyzed. The impact of Web3 and intelligent contracts on Fintech are also investigated. This study examines the general trends in the NFTs market, including their price formation, price-influencing factors, and available patterns. Then the paper provides classifications and examples of NTFs. Besides, the technological application and primary technical path are also described. Later, the paper assesses the market's and marketplaces' accessibility. Finally, this study evaluates the management applications of NFTs and analyzes existing platforms, and demonstrates how they can be implemented effectively in various settings. The concluding portion discusses technological obstacles. The study concludes with a discussion of potential applications for the results and prospects for future research.
Keywords
NFT; Fintech; Blockchain; Finance; Innovation
Subject
Business, Economics and Management, Economics
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
