THE USE OF NFT TOKENS IN THE ERA OF DIGITAL TRANSFORMATION: PROSPECTS FOR IMPLEMENTATION

Abstract

Brechko O.V. THE USE OF NFT TOKENS IN THE ERA OF DIGITAL TRANSFORMATION: PROSPECTS FOR IMPLEMENTATION

Purpose. The aim of the article is to study the peculiarities of NFT for the development of modern business and other important processes related to the preservation and protection of property rights for the implementation of digital assets.

Methodology of research. This study is based on scientific research on the formation and functioning of NFT tokens in the digital market. The study employed various methods including dialectical analysis, expert evaluation of publications and opinions, statistical analysis of NFT token dynamics, system analysis for theoretical generalisations and establishing structural links between the elements of the studied system, and abstract and logical methods for formulating conclusions and recommendations and others.

Findings. The article examines the importance of using NFT tokens as a technologically important tool for preserving ownership based on non-reciprocity, which allows you to secure these rights for token owners and preserve the originality of the objects of application of these tokens. This, in turn, involves establishing the value of implementing technologies in art, culture, musical works, as well as in the field of virtual reality, collecting objects, and including, in the real sector of the economy, connecting the data of digital assets with the real services of corporations.

Originality. The article substantiates the essence of NFT tokens, their value and features of application based on non-reciprocity technology, which reveals the scientific and practical significance of their application. The ability to use these tokens to authenticate and trace the provenance of digital content, address issues related to plagiarism and intellectual property theft, increase trust in digital assets, and preserve information integrity indicates that NFT technology is the digital certificate of authenticity that proves creation of assets, the right to own them, records and stores the history of transactions or accounting of trading operations.

Practical value. The main provisions of the article can be used by domestic business entities to determine the priority areas of digitization and future potential developments based on NFT technologies using the experience of leading leaders in this field. Further research can be aimed at introducing this technology into the business processes of companies that plan to promote their brand on the global market, tokenize their own services, and digitize business processes using customer engagement. Also, NFT technology is changing the key role in the development of virtual reality, in particular the ideas on the basis of which Metaverses are being developed.

Key words: NFT token, NFT technology, blockchain, Web 3.0, digital assets.