A Survey: Implementations of Non-fungible Token System in Different Fields

TL;DR

This survey reviews various implementations of NFTs across different fields, highlighting their diverse applications in digital art, ownership, and real-world assets, and discusses future potential uses.

Contribution

It provides a comprehensive overview of existing NFT implementations in recent technology fields, offering insights into future applications and user experience enhancements.

Findings

NFTs are used in digital art, collectibles, and ownership verification.

NFT technology is applied to physical and digital assets, including real estate.

NFTs are secured by blockchain, ensuring unique ownership records.

Abstract

In the realm of digital art and collectibles, NFTs are sweeping the board. Because of the massive sales to a new crypto audience, the livelihoods of digital artists are being transformed. It is no surprise that celebs are jumping on the bandwagon. It is a fact that NFTs can be used in multiple ways, including digital artwork such as animation, character design, digital painting, collection of selfies or vlogs, and many more digital entities. As a result, they may be used to signify the possession of any specific object, whether it be digital or physical. NFTs are digital tokens that may be used to indicate ownership of one of a-kind goods. For example, I can buy a shoe or T shirt from any store, and then if the store provides me the same 3D model of that T-Shirt or shoe of the exact same design and color, it would be more connected with my feelings. They enable us to tokenize items such as artwork, valuables, and even real estate. NFTs can only be owned by one person at a time, and they are protected by the Ethereum blockchain no one can alter the ownership record or create a new NFT. The word non-fungible can be used to describe items like your furniture, a song file, or your computer. It is impossible to substitute these goods with anything else because they each have their own distinct characteristics. The goal was to find all the existing implementations of Non-fungible Tokens in different fields of recent technology, so that an overall overview of future implementations of NFT can be found and how it can be used to enrich user experiences.