Two novel use-cases for non-fungible tokens (NFTs).

Authors

  • Alexander Pfeiffer Donau-Universität Krems
  • Natalie Denk Donau-Universität Krems
  • Thomas Wernbacher Donau-Universität Krems
  • Stephen Bezzina University of Malta
  • Vince Vella University of Malta
  • Alexiei Dingli University of Malta

DOI:

https://doi.org/10.34190/eccws.21.1.141

Keywords:

NFT, Blockchain, non-fungibile-tokens, Cybersecurity

Abstract

Non-Fungible Tokens (NFTa) can either represent an original digital artwork, or act as a digital reference to the actual work. In both as digital references to the actual work. In both cases the record in the distributed ledger, mostly a blockchain-based database, intends to serve as a proof of ownership or transfer of rights. NFTs might also add a further purpose, which in blockchain terms is referred to as “a utility", such as access to special websites, chats or clubs in emerging metaverse platforms. This use-case paper presents a first introduction of two early stage demonstrators, set outside the common use of art images or images of historical events as NFTs. The first case shows how educational credentials can be created, in which different teachers contribute to assessment achievements. We elaborate how these partial achievements are verified separately within the actual credentials. In the second case study, we build on previous research in regard to NFTs in the music industry and show the combination of physical vinyl record special editions, in our case vinyls signed by the band, and the ownership certificate as NFT. For both demonstrators we used, in different settings, the crypto art platform NFTmagic and the blockchain-token wallet Sigbro. We developed and tested the results within the setting of a roleplay as a group and show how blockchain technologies and especially NFTs can be made useful in new ways, inspired by the ongoing process of discovering risks and opportunities in ‘crypto art’, thus initiating discussion on the topic and effectively bridging the cybersecurity and (digital) art communities.

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Published

2022-06-08