Digital assets have boomed over the past few years with the emergence of Non-fungible Tokens(NFTs).To be specific,the total trading volume of digital assets reached an astounding$55.5 billion in 2022.Nevertheless,nume...Digital assets have boomed over the past few years with the emergence of Non-fungible Tokens(NFTs).To be specific,the total trading volume of digital assets reached an astounding$55.5 billion in 2022.Nevertheless,numerous security concerns have been raised by the rapid expansion of the NFT ecosystem.NFT holders are exposed to a plethora of scams and traps,putting their digital assets at risk of being lost.However,academic research on NFT security is scarce,and the security issues have aroused rare attention.In this study,the NFT ecological process is comprehensively explored.This process falls into five different stages encompassing the entire lifecycle of NFTs.Subsequently,the security issues regarding the respective stage are elaborated and analyzed in depth.A matrix model is proposed as a novel contribution to the categorization of NFT security issues.Diverse data are collected from social networks,the Ethereum blockchain,and NFT markets to substantiate our claims regarding the severity of security concerns in the NFT ecosystem.From this comprehensive dataset,nine key NFT security issues are identified from the matrix model and then subjected to qualitative and quantitative analysis.This study aims to shed light on the severity of NFT ecosystem security issues.The findings stress the need for increased attention and proactive measures to safeguard the NFT ecosystem.展开更多
The viability of exponentially growing non-fungible token(NFT)market is evaluated by identifying potential value-generating mechanisms that can be rationalized.After identifying the value-generating mechanisms underly...The viability of exponentially growing non-fungible token(NFT)market is evaluated by identifying potential value-generating mechanisms that can be rationalized.After identifying the value-generating mechanisms underlying the positive values of NFTs,this study establishes a pricing model for NFTs that follows a continuous-time financial framework.As NFTs are claimed to securitize“ownership rights short of use”,and as such they may potentially serve as a substitute for the need to rely replace the reliance on the legal protection provided by intellectual property rights(IPRs).Considering this issue,this study evaluates the likelihood that NFTs will replace existing mechanisms that protect producers’rightful claim to use their assets or the need to apply the legal code that governs IPRs.The financial condition for this potential shift is derived for a category of assets whose use or consumption does not reduce supply as the notion of scarcity does not apply.展开更多
文摘Digital assets have boomed over the past few years with the emergence of Non-fungible Tokens(NFTs).To be specific,the total trading volume of digital assets reached an astounding$55.5 billion in 2022.Nevertheless,numerous security concerns have been raised by the rapid expansion of the NFT ecosystem.NFT holders are exposed to a plethora of scams and traps,putting their digital assets at risk of being lost.However,academic research on NFT security is scarce,and the security issues have aroused rare attention.In this study,the NFT ecological process is comprehensively explored.This process falls into five different stages encompassing the entire lifecycle of NFTs.Subsequently,the security issues regarding the respective stage are elaborated and analyzed in depth.A matrix model is proposed as a novel contribution to the categorization of NFT security issues.Diverse data are collected from social networks,the Ethereum blockchain,and NFT markets to substantiate our claims regarding the severity of security concerns in the NFT ecosystem.From this comprehensive dataset,nine key NFT security issues are identified from the matrix model and then subjected to qualitative and quantitative analysis.This study aims to shed light on the severity of NFT ecosystem security issues.The findings stress the need for increased attention and proactive measures to safeguard the NFT ecosystem.
文摘The viability of exponentially growing non-fungible token(NFT)market is evaluated by identifying potential value-generating mechanisms that can be rationalized.After identifying the value-generating mechanisms underlying the positive values of NFTs,this study establishes a pricing model for NFTs that follows a continuous-time financial framework.As NFTs are claimed to securitize“ownership rights short of use”,and as such they may potentially serve as a substitute for the need to rely replace the reliance on the legal protection provided by intellectual property rights(IPRs).Considering this issue,this study evaluates the likelihood that NFTs will replace existing mechanisms that protect producers’rightful claim to use their assets or the need to apply the legal code that governs IPRs.The financial condition for this potential shift is derived for a category of assets whose use or consumption does not reduce supply as the notion of scarcity does not apply.
