Model of Application of Blockchain Technology and NFTs in Heritage Environment

Abstract

The paper briefly introduces the blockchain and distributed ledger technologies and the concept of non-fungible tokens. Next, the (re)conceptualization of business activities in heritage institutions like museums, libraries, and archives regarding introducing non-fungible tokens is discussed. The proposal for a non-fungible token application model is the central part of the paper. The eight-step model is thoroughly explained and separated into two sections: off-chain and on-chain. Finally, the discussion and conclusion are given, identifying new possibilities that the application of the model can bring to the heritage institutions and the possible challenges they may face.