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The Evolution of Gaming: Web3, NFTs, and the Future of Play
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The authenticity, traceability, and management of expensive food products require trusted, secure, and transparent end-to-end data provenance and transactions. In today’s systems, transactions and data related to managing and tracing the origins and history of food products are typically stored in segregated data repositories, and controlled and managed by centralized entities, with no access or visibility to the public or key stakeholders. This increases the risk of data loss, alteration, and tampering. Further it erodes trust among all stakeholders, and weakens consumer sentiment and confidence in the expensive food market, and raises concerns about the verifiability and authenticity of expensive food products. To overcome this problem, this paper addresses the lack of traceability and authenticity problems in expensive food products utilizing blockchain technology and NFTs. NFTs are blockchain-based tokens that can be utilized to represent ownership of unique assets. We propose an NFT-based solution for expensive food products trading management, where the ownership of a food product is maintained by using digital certification, and the trading process is facilitated by smart contracts. We utilize composable NFTs for food products, where interrelated products, such as raw materials, packaged products, and Lots, are represented as top-down and bottom-up composable NFTs in the form of parent-child relationship. Composable NFTs embed extra utility within NFTs, especially when subsets of NFTs are needed. We integrate the InterPlanetary File System (IPFS) decentralized storage into our solution to avoid storing large files on the blockchain while maintaining their permanency and immutability. We present various diagrams to show the system elements and the interactions among them. We illustrate algorithms along with the solution implementation details. We evaluate our solution by conducting cost and security analyses. We make our smart contracts code publicly available on GitHub.
Blockchain technology is having an increasingly profound impact on the business landscape. Blockchain--a means for storing information and transactions in secure, decentralized manner—has many potential applications for marketing. However, marketing research and practice are still tentative about the use of blockchain and are yet to fully understand it and embrace it. The goal of this editorial is to advance in this direction and offer a path toward incorporating blockchain technology into our scholarly marketing thinking. We review the basic terminology and principles of the blockchain process, provide a comprehensive overview of the potential impact of blockchain on several core marketing areas and propose research questions that can help advance both research and practice as this technology develops.
This editorial is accompanied by five research notes written by leading marketing scholars, which explore applications of blockchain to the following marketing topics: Advertising (Joo et al. 2022), Branding (Colicev 2022), Creative Industries (Malik et al. 2022), Pricing (Zhang 2022), and Privacy (Marthews and Tucker 2022).
Non-fungible tokens (NFTs) make it technically possible for digital assets to be owned and traded, introducing the concept of scarcity in the digital realm for the first time. Resulting from this technical development, this paper asks the question, do they provide an opportunity for fundraising for galleries, libraries, archives and museums (GLAM), by selling ownership of digital copies of their collections? Although NFTs in their current format were first invented in 2017 as a means for game players to trade virtual goods, they reached the mainstream in 2021, when the auction house Christie’s held their first-ever sale exclusively for an NFT of a digital image, that was eventually sold for a record 69 million USD. The potential of NFTs to generate significant revenue for artists and museums by selling effectively a cryptographically signed copy of a digital image (similar to real-world limited editions, which are signed and numbered copies of a given artwork), has sparked the interest of the financially deprived museum and heritage sector with world-renowned institutions such as the Uffizi Gallery and the Hermitage Museum, having already employed NFTs in order to raise funds. Concerns surrounding the environmental impact of blockchain technology and the rise of malicious projects, exploiting previously digitised heritage content made available through OpenGLAM licensing, have attracted criticism over the speculative use of the technology. In this paper, we present the current state of affairs in relation to NFTs and the cultural heritage sector, identifying challenges, whilst highlighting opportunities that they create for revenue generation, in order to help address the ever-increasing financial challenges of galleries and museums.
Non-fungible tokens are an up and coming application domain for smart contracts. Ethereum is the first blockchain-based decentralized computing platform that has standardized this type of tokens into a well-defined interface, namely ERC721. We propose a framework that provides developers with a smart contract suite that offers complete implementations of the ERC721 standard and common extensions and features frequently encountered in ERC721-based applications. We introduce a specification language that enables customization and configuration of the smart contract suite by including and excluding the supported features and extensions. We evaluate the smart contract suite for its extensibility and reusability and compare the metrics with four reference implementations tackling a similar problem. In addition to this, we evaluate and analyze the effort and efficiency of the specification language in comparison to manual configuration of the smart contract suite. Our contribution lies in examining quality metrics for code extensibility and reusability and determining the more insightful metrics for assessing these quality attributes in the context of Solidity smart contracts. Additionally, from the lines of code metric, We conclude that our specification language offers a simple and efficient alternative to manual smart contract suite customization.
The NFTs (non-fungible tokens) market is booming. NFTs sales have mainly been dominated by speculative trading of cryptocollectibles, most of them often generated by algorithm. NFTs are being experienced in several industries such as fashion, fine jewelry and spirits, sports, music and gaming while in the latter they reached a maturity level. Individuals purchase NFTs for their underlying value based on their uniqueness and ownership claims, as well as their unicity and comparative scarcity as digital assets, even though they do not necessarily possess the original assets. Academic literature on NFTs are scant and those related to NFTs creators are at their infancy. NFTs are reshaping the market of digital assets with several business models (centralized versus decentralized collaboration models) are being implemented, calling to further examine the value of NFTs as a new business model. Furthermore, while NFTs are a disruptive technology with many new ideas are being implemented and opportunities foreseen, there is a need to map the different business models that are developed in the NFTs market and their key features in order to understand the behaviors of the creators and acknowledge the viability of these specific ventures. To address this knowledge gap, this research paper provides a brief overview of NFTs business models and discuss their implications from business model innovation perspective.
This editorial analyzes national, political, global geopolitical, ethical, social, and environmental issues associated with Web3 and the metaverse. It also introduces the feature articles, columns, and departments that appear in this issue.
A study of Everquest that provides a snapshot of multiplayer gaming culture, questions the truism that computer games are isolating and alienating, and offers insights into broader issues of work and play, gender identity, technology, and commercial culture.
In Play Between Worlds, T. L. Taylor examines multiplayer gaming life as it is lived on the borders, in the gaps—as players slip in and out of complex social networks that cross online and offline space. Taylor questions the common assumption that playing computer games is an isolating and alienating activity indulged in by solitary teenage boys. Massively multiplayer online games (MMOGs), in which thousands of players participate in a virtual game world in real time, are in fact actively designed for sociability. Games like the popular Everquest, she argues, are fundamentally social spaces.
Taylor's detailed look at Everquest offers a snapshot of multiplayer culture. Drawing on her own experience as an Everquest player (as a female Gnome Necromancer)—including her attendance at an Everquest Fan Faire, with its blurring of online—and offline life—and extensive research, Taylor not only shows us something about games but raises broader cultural issues. She considers "power gamers," who play in ways that seem closer to work, and examines our underlying notions of what constitutes play—and why play sometimes feels like work and may even be painful, repetitive, and boring. She looks at the women who play Everquest and finds they don't fit the narrow stereotype of women gamers, which may cast into doubt our standardized and preconceived ideas of femininity. And she explores the questions of who owns game space—what happens when emergent player culture confronts the major corporation behind the game.
What Is Web3? A Decentralized Internet Via Blockchain Technology. Decrypt Official Website
- Kade Garrett
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Revolidis, I. Non-Fungible Tokens (NFTs), Smart Contracts and Contracts: The Need for Legal and Technology Assurances
- J Ellul
Ellul, J., Revolidis, I. Non-Fungible Tokens (NFTs), Smart Contracts and Contracts:
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A Brief History of Gaming & The Gaming Industry
- Canada Lg
LG Canada. A Brief History of Gaming & The Gaming Industry. LG Canada Website
https://www.lg.com/ca_en/gaming/a-brief-history-of-gaming. Accessed August 1, 2023.
The History of Gaming: An Evolving Community
- R Chikhani
Chikhani, R. The History of Gaming: An Evolving Community. Techcrunch Official
website. https://techcrunch.com/2015/10/31/the-history-of-gaming-an-evolvingcommunity. Published October 31, 2015. Accessed August 1, 2023
What is Web 3.0 (Web3)? Definition, guide and history
- Techtarget Official Website
TechTarget Official Website. What is Web 3.0 (Web3)? Definition, guide and history.
https://www.techtarget.com/whatis/definition/Web-30. Accessed August 1, 2023.
Online Gaming -Topic Overview
- Statista
Statista. Online Gaming -Topic Overview.
What is Web 3.0 (Web3)? Definition, guide and history
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David, E., Sean, M.K., Alexander, S.G. What is Web 3.0 (Web3)? Definition, guide
and history. TechTarget Official Website.
https://www.techtarget.com/whatis/definition/Web-30. Accessed August 1, 2023.
Web 3.0: The Future of the Internet
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DiFrancesco, D. Web 3.0: The Future of the Internet. Forbes.
https://www.forbes.com/sites/forbestechcouncil/2022/03/02/web-30-the-future-of-theinternet/ Accessed September 10, 2023
Non-Fungible Tokens (NFT): A Systematic Review
- H Tarhedoost
Tarhedoost, H. Non-Fungible Tokens (NFT): A Systematic Review
The Draw of Web3 Gaming
- S Kanu
Kanu, S. The Draw of Web3 Gaming. Axxon Network Official Site.
Unveiling the Transformative Power of NFTs
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Abraham, A. Beyond Art: Unveiling the Transformative Power of NFTs"
https://braham.hashnode.dev/beyond-art-unveiling-the-transformative-power-of-nfts#heading-utility. Published September 6, 2023. Accessed September 20, 2023.
Decentralized Autonomous Organizations; Revolutionizing Governance and Collaboration
- A Abraham
Abraham, A. Decentralized Autonomous Organizations; Revolutionizing
Governance and Collaboration. https://braham.hashnode.dev/decentralizedautonomous-organizations-revolutionizing-governance-and-collaboration. Published
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Issues around NFTs: Legal Risks, Taxation Aspects
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Yalalov, D. Issues around NFTs: Legal Risks, Taxation Aspects, Regulation.
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How interoperability is unlocking an open metaverse culture and future. Jing Culture & Crypto
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