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Overview, History and Challenges Of The NFT (Non-Fungible Token) Technology

Author

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  • Boris Bankov

    (University of Economics – Varna, Bulgaria)

Abstract

This paper presents the NFT technology, its development and effect on digital markets and the Internet. The popularity of crypto-currencies is causing widespread interest, both among experts and users without knowledge in the field of investment and trading on the world exchange. The lack of awareness on the topic, the widely publicized quick-realized impressive profits, the fear of missing out on opportunities following the Bitcoin model, and the dynamic changes on a global scale since the start of the Covid-19 pandemic have pushed NFTs in the wrong direction. The research demonstrates an overview of current practices in establishing online NFT markets, pricing and questionable stakeholders` interests.

Suggested Citation

  • Boris Bankov, 2022. "Overview, History and Challenges Of The NFT (Non-Fungible Token) Technology," Scientific Conference of the Department of General Economic Theory, University of Economics - Varna, issue 1, pages 119-125.
    • Handle: RePEc:vrn:oitcon:y:2022:i:1:p:119-125
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    File URL: https://conference.ue-varna.bg/oit2022/assets/Sbornik_dokladi_OIT_2022.pdf
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    More about this item

    Keywords

    Crypto-currencies; Crypto trading Non-fungible token; NFT technology;
    All these keywords.

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation

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