Non-Fungible Tokens Value with Metaverse and Blockchain Gaming

Abstract

Non-Fungible Tokens (NFTs) had shown significant hype since 2021 and had gained popularity as a way to trade value as an asset. The study opportunity was to investigate NFTs within the blockchain platform to identify how adding utility and combining the utility inside a metaverse would hold the value of NFTs. This qualitative exploratory study investigated how NFTs can be monetized and used by creating a market to provide the demand. This research study examined the NFTs and reviewed how they could be developed into something useful. The monetization of new markets was an underlying question that was researched as part of this study to determine if they could be created and if there was an effective way to influence utility to generate value. An exploratory research design was used to survey 50 respondents to uncover concepts from blockchain to metaverse research. The results aligned with the perspective that NFTs appeared not to follow what a traditional asset would stick to. Based on the findings, NFTs could create new markets and entice demand by relying on unique and limited characteristics defined throughout this research.