NFTs in Practice : Non-Fungible Tokens as Core Component of a Blockchain-based Event Ticketing Application

Titelangaben

Regner, Ferdinand ; Schweizer, André ; Urbach, Nils:
NFTs in Practice : Non-Fungible Tokens as Core Component of a Blockchain-based Event Ticketing Application.
In: Proceedings of the 40th International Conference on Information Systems (ICIS). - Munich, Germany , 2019
ISBN 978-0-9966831-9-7

Volltext

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Abstract

Non-fungible tokens (NFTs) are a new type of unique and indivisible blockchain-based tokens introduced in late 2017. While fungible tokens have enabled new use cases such as Initial Coin Offerings, the potential of NFTs as a valuable component remains unclear. This paper addresses this gap in theoretical and practical knowledge and demonstrates the efficacy of NFTs in the domain of event ticketing. We follow a rigorous design science research approach of designing, building and thoroughly evaluating a prototype of an event ticketing system based on NFTs. Thereby, we demonstrate the usefulness of NFTs to tokenize digital goods, prevent fraud and improve control over secondary market transactions. Further, we contribute generalizable knowledge of the benefits and challenges of NFTs and derive implications for both researchers and practitioners. Finally, this paper proposes managerial recommendations for building applications utilizing NFTs and enables other researchers to draw on its findings and design principles.