The Social and Economic Dynamics of the Metaverse, Smart Contracts, and Non-Fungible Tokens

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    Introduction to the Minitrack on The Social and Economic Dynamics of the Metaverse, Smart Contracts, and Non-Fungible Tokens
    (2023-01-03) Sundaram, David; Sadovykh , Valeria; Peko, Gabrielle; Craig, Kevin
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    Copycats vs. Original NFTs Detection: A Design Science Approach
    (2023-01-03) E, Feiyu; Gao, Huilin; Chau, Michael
    The Non-Fungible Token (NFT) makes trading digitalized artworks online possible, which creates great opportunities in the artwork markets. Besides the extraordinary wealth it has created, the NFT trading market also brings many issues, such as intellectual property protection. Although there are a large number of transactions happening every day in the NFT market, there is no platform mechanism built to avoid copycat behaviors happening blatantly. In this paper, we propose a copycat detection and investigation framework. Besides, we propose to examine the effect of copycats on the price of original NFTs. The proposed project contributes to the literature on NFT management and NFT copyright, and also helps the NFT developers to protect their rights and benefits and helps NFT platforms to avoid potential legal issues.
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    Providing Customer Value through Non-Fungible Tokens: A Preliminary Study
    (2023-01-03) Pirnay, Lhorie; Deventer, Claire; Amaral De Sousa, Victor
    Non-Fungible Tokens (NFTs) are digital certificates of ownership that can be attached to any virtual or physical item. Recently, they have become increasingly popular, especially with the advent of metaverses, virtual spaces that are shared and accessible online. Many organizations are launching NFT initiatives for a variety of reasons including retaining customers, developing new revenue streams, or demonstrating that they are keeping up with the latest technological advances. When organizations launch NFT initiatives, they provide value to NFT users in various ways, depending on the NFT characteristics. This paper is a preliminary study to understand the value offered by organizations and perceived by NFT users. We examine 46 NFT initiatives from 42 companies to determine what value can be provided to users of NFTs. The goal is to provide a basis for further analysis on the values of NFTs and to support the design of Information Systems for NFTs.