Finansal piyasaların eksiklikleri, merkezi finansal aracı kurumların gerekliliğini ortaya koymuş ve bu kurumlar, müşterilerinin ihtiyaçlarını karşılamada başarılı olmuştur. Ancak hala ülkelerarası para transferi gibi bazı hizmetler için yüksek masraflar ödenmektedir. Ayrıca, çağımızın hızlı ve verimli yeni uygulamalara ve iş modellerine ihtiyacı vardır ve mevcut kurumlar bu gereksinimlere tam olarak yanıt verememektedir. Özellikle COVID-19 ile birlikte dijitalleşmeye geçiş süreci hızlanmış ve finansal piyasalar hızlı bir değişim geçirmiştir. Kripto paralar, yapay zekâ ve blok zincir gibi Web3 bileşenleri, finansal piyasalarda önemli değişikliklere neden olmuş ve merkezi olmayan finansal ekosistemlerin gelişmesine olanak tanımıştır. Bu teknolojik gelişmeler, finansal hizmetlere daha fazla erişim sağlamış ve rekabeti artırmıştır. DeFi merkeziyetsiz finans anlamına gelmektedir ve de merkeziyetli finansa (CeFi)’ye göre birçok üstünlük barındırmaktadır. Kurumsal DeFi ise DeFi ekosisteminin yarattığı ürünlerin finansal kurumlarda kullanılmaya başlanmasını ve kurumların bu sürece uyum sağlayacak teknolojik altyapıyı edinmesini gerektirmektedir. DeFi, şirketlerin varlıklarını dijital tokenlara dönüştürerek bu ekosisteme entegre etmelerine ve finansal işlemlerini merkezi olmayan bir platform üzerinde gerçekleştirmelerine olanak tanır. Bu şekilde işlemler daha hızlı ve düşük maliyetli bir şekilde gerçekleştirilir ve piyasalardaki likidite artar. Bu çalışmanın amacı, DeFi kavramını ve DeFi'nin iş dünyasında nasıl uygulanabileceğini açıklamaktır. Bu çerçevede, DeFi'nin şirketler için potansiyel avantajları ve uygulanması adımları ele alınacak ve finansal kurumların bu dönüşümü başarıyla gerçekleştirmek için göz önünde bulundurmaları gereken faktörler açıklanacaktır. Ayrıca, DeFi'nin kurumsal düzeyde uygulanması sırasında ortaya çıkabilecek riskler ve bu riskleri etkili bir şekilde yönetmek için izlenmesi gereken stratejiler de incelenecektir.
Andrew Dryhurst, Daniel ‘Zach’ Sloman, Yazid Zahda
The Morphogenetic Régulation approach (MR) contributes to the Morphogenetic Approach by explaining the material and ideational origins of change and stasis in agency, structure, and culture. In this paper, we focus on the expressive quality of ideas and systemic persistence in three research projects. The first demystifies inclusive governance and its adverse impacts. It shows how, contrary to institutions of governance, inclusiveness is not simply a norm but actually the explication of corporate agents’ ideas about rational choice institutionalism which leads to adverse impacts on vulnerable groups and ecologies known as adverse inclusion. The second investigates the role of ideas as adequacy and self-explication in guiding Palestinian actors’ actions towards the deepening of neoliberalization in Palestine. The third explains the relevance of the systemic persistence problematique for understanding how three juxtaposed themes – Web2, Web3, and Artificial Intelligence (AI) – are shaping the political economy and infrastructure of the Internet.
David Cordova Morales, Thi Mai Trang Nguyen, Guy Pujolle
One of the most important paradigm shifts nowa-days regarding future 6G communication is related, from one side to the desire of bringing services and data as close as possible to the end users, and from another side, to empower the user with control over their data and personal information. In this vision, private 6G networks will shape trusted zones where data center services are placed at the edge of the network. The services will follow a Web3 approach, where decentralization and zero-trust mechanisms are predominant. In this environment, a decen-tralized authentication mechanism is needed. In this paper, we propose a 6G architecture and a blockchain-like authentication scheme based on Verifiable Credentials. Our model uses zero-trust technology for a better and more trusted Internet.
Randomness plays a pivotal role in modern online gaming, but disputes have arisen over the accuracy of stated winning chances, resulting in legal issues and financial setbacks for gaming companies. Fortunately, blockchain-based games offer a solution to the transparency and fairness issue regarding randomness. Furthermore, emerging blockchain technology like Sui Network enhances the efficiency of smart contracts by eliminating traditional web3 barriers, such as inefficiencies and expensive transaction fees. This unlocks the potential for extensive decentralized gaming applications. This paper aims to provide insights into designing a fair, verifiable, and efficient smart contract game on blockchain by the example of building raffles on the Sui Network. We explore efficient methods for implementing randomness on smart contracts, including DRAND committee-based decentralized random beacons and single private-key-based verifiable random functions (VRF). Then, progress from basic to comprehensive smart contract design. We addressed limitations in developing blockchain games in general, such as data input and storage space constraints. We propose corresponding solutions, encompassing the utilization of Object Tables, Delegate Object Creation, and Zero-Knowledge Proofs (ZKP) to optimize storage and input efficiency. After testing our designs, we found that the transaction fees for DRAND beacons and private-key-based VRFs are similar. Moreover, Object Tables incur higher overall transaction fees, while the ZKP setup fee is cheap but becomes very expensive during the verification process. Moreover, we identified suitable designs for different application scenarios by comparing the pros and cons of different smart contract implementations. Our findings provide valuable guidance for future researchers and developers in building random, fair, and verifiable games with smart contracts.
We consider the problem of researcher output identification and its verification.Nowadays, researcher outputs verification is a challenging problem faced by institutions that want, for example, employ such a researcher.Usually, there is no verification, and the aforementioned institutions rely on trust that the received documents are authentic.Our solution is a based on blockchain technology, a public ledger with smart contracts, that is the root of emerging web3.We use the public wallet address as the researcher identification number and the wallet as the store of all researcher credentials.This paper presents ERC-721 standard-based solution and addresses the conference certification case.The solution proposed in this paper addresses two challenges that arise in collecting and verifying data on research output for managing, monitoring, and evaluating purposes.We show that the public wallet address can be successfully used as the researcher identification number, and the wallet can be used as a vault of all the researcher credentials.
Nii Osae Osae Dade, Margaret Lartey-Quaye, Emmanuel Teye-Kofi Odonkor, Paul Ammah
Programming has always been at the heart of technological innovation in the 21st century. With the advent of blockchain technologies and the proliferation of web3 paradigms of decentralised applications, smart contracts have been very instrumental in enabling developers to build applications that reside on decentralised blockchains. Despite the huge interest and potential of smart contracts, there is still a significant knowledge and skill gap that developers need to cross in order to build web3 applications. In light of this, we introduce MazzumaGPT, a large language model that has been optimised to generate smart contract code and aid developers to scaffold development and improve productivity. As part of this research, we outline the optimisation and fine-tuning parameters, evaluate the model's performance on functional correctness and address the limitations and broader impacts of our research.
The Blockchain-based Electronic Health Record (B-EHR) system represents a significant advancement in healthcare data management. Concerns over data confidentiality and security have become increasingly critical in the healthcare sector, given the need for immediate data accessibility. Traditional centralized systems face accessibility issues, necessitating a transformative solution, and blockchain technology emerges as a promising candidate. This research introduces a patient-controlled, blockchain-based system that efficiently manages and safeguards individuals' health-related data. By harnessing the Ethereum network and utilizing tools such as Ganache, Solidity, and web3.js, this system takes a systematic approach to overcome the limitations of centralized systems. Smart contracts, the basis of blockchain technology, serve as the backbone for storing and processing patients' data in a decentralized manner. Transactions are conducted securely through these smart contracts, ensuring patient privacy and data security. Notably, any modifications to transactions can be verified and propagated across the entire distributed network, enhancing data integrity. Complementing this system is a cryptocurrency wallet like MetaMask, providing a centrally controlled repository where records can be swiftly accessed and secured by authorized individuals, including doctors and patients. This integration significantly improves data accessibility and security within the healthcare domain. Ultimately, this research aims to leverage blockchain technology for simultaneous data retrieval, enhancing efficiency, credibility, and accessibility. It offers a robust framework for securely storing data with tailored access permissions and facilitates the safe transfer of patient medical records. In essence, it introduces a swift and secure health record system and an innovative protocol, promoting greater transparency and ownership of sensitive data in the healthcare sector through blockchain integration.
<p>OKX Wallet is a universal digital currency wallet accessible on different platforms, such as web, app, and extension. The wallet gives you quick access to over 3000 crypto tokens, over 60 decentralized networks, thousands of dApps (decentralized applications), and the Web3 ecosystem. <strong><a href="https://sites.google.com/99cryptowallet.com/okxwalletextension/">OKX Wallet Extension</a></strong> is a non-custodial wallet, with users responsible for the private keys and, hence, assets. OKX is now a multi-chain wallet compatible with EVM and non-EVM chains. This lets users access dApps on various chains without changing wallets.</p>\n\n<p>Presently, the OKX Wallet supports 37 chains, like Ethereum, OKC, Bitcoin, Avalanche, Solana, Arbitrum, Polygon, Tron, etc. The wallet saves users many troubles by automatically changing networks. The OKX Wallet Extension has an in-built DEX (decentralized exchange) that works across networks and NFT (non-fungible token) marketplaces that collect orders through LookRare, OpenSea, and X2Y2 and support NFT analysis. With this all-one-hub, users can explore over 1,000 dApp protocols.</p>
<p>The <a href="https://sites.google.com/99cryptowallet.com/ledgerwalletextension/"><strong>Ledger Wallet Extension</strong></a> is a multi-chain web browser extension developed to offer secure and straightforward access to Web3 through the Ledger hardware wallet, letting you connect with dApps (decentralized applications) directly and simply without importing your Ledger account into the software wallet. Read the guide to understand the ins and outs of setting up and utilizing the Ledger Wallet Extension.</p>
<p><strong>Whether you are a cryptocurrency, NFT (non-fungible token) enthusiast or trying to increase the capability of the Web3 world, the <a href="https://sites.google.com/99cryptowallet.com/bladewalletextension/">Blade Wallet Extension</a> is worth considering. It’s a virtual wallet developed to fulfill user requirements. This guide will show you the wallet features, set up an account, and more. Continue reading to take control of your virtual assets and discover everything Web3 offers.</strong></p>
Dirk Draheim, Ahto Buldas, Mike Gault, Märt Saarepera
<p>The Web3 vision takes blockchain disintermediation to a next level by making it ubiquitous, encompassing not only payments and financial services but also digital identities, data and business models. Recently, Web3 has gained massive attention by major analysts such as Gartner, Forrester, Forbes Technology Council and the Harvard Business Review. Albeit the current enthusiasm about Web3, we are lost in a state of confusion about what Web3 actually is - or could be. The purpose of this paper is to mitigate the gap between the perceived usefulness of Web3 and its potential implementation. We take a descriptive design science approach. We provide informed arguments for a potential foundation of Web3 in terms of fundamental components, architectural principles and a Web3 design space. We demonstrate the usefulness of the provided Web3 foundation by describing Alphabill, a platform that allows for universal asset tokenization and transfer as a global medium of exchange. The findings of this research enable policy makers, decision makers and information systems architects alike to make informed decisions about Web3 and its potential implementation as follows: (i) The Web3 can be characterized as the integration of digital rights exchange into the (application layer) internet protocols. (ii) The Web3 has the potential to revolutionize today's information systems's landscape by turning today's information systems into deeply standardized views on a huge, single underlying information structure. The killer application of a well-founded Web3 is the Web3 itself -- being the currently missing backbone (value-added middleware) for all of today's and future enterprise applications and business-to-business communication. (iii) The scenario-based evaluation of the provided Web3 foundation reveals the described Alphabill platform as a Web3 enabling technology. </p>
Temporal Heterogeneous Networks (THNs) are evolving networks that characterize many real-world applications such as citation and events networks, recommender systems, and knowledge graphs. Forecasting THNs involves predicting future connections within a network that evolves over time and comprises diverse types of nodes and interactions with varying temporal dynamics. Although some Graph Neural Networks (GNNs) models have been successfully applied to forecast THNs, there is a lack of a general overview of how the message-passing computation could be extended to treat THNs. Moreover, most of the current solutions exhibit pitfalls in their training and evaluation strategies. Hence, in this work, we propose a graph deep learning framework for THN forecasting. Our framework decomposes the computation of a GNN layer into multiple components and introduces two different schemes to update embedding representations for THNs. This design allows the classification of existing solutions into special instances of our framework and highlights their potential limitations. We also extend the set of benchmarks for THNs by introducing two novel high-resolution temporal heterogeneous graph datasets derived from an emerging Web3 platform and a well-established e-commerce website. Overall, we conducted the first massive evaluation of THNs solutions over four temporal heterogeneous network datasets on two different future link prediction tasks using a fair newly introduced evaluation setting that considers the evolving nature of the data. Based on the limitations of existing solutions, we develop a new model that combines working techniques from previous models and leverages a new embedding update scheme. Experiments show the prediction power of our model compared to current solutions for link prediction in temporal graphs. Moreover, the experimental evaluation highlights the strengths and weaknesses of the different solutions and shows the effectiveness of our framework design.
Leonhard Balduf, Maciej Korczyński, Onur Ascigil, Navin V. Keizer · 7 authors
Interplanetary Filesystem (IPFS) is one of the largest peer-to-peer filesystems in operation. The network is the default storage layer for Web3 and is being presented as a solution to the centralization of the web. In this paper, we present a large-scale, multi-modal measurement study of the IPFS network. We analyze the topology, the traffic, the content providers and the entry points from the classical Internet. Our measurements show significant centralization in the IPFS network and a high share of nodes hosted in the cloud. We also shed light on the main stakeholders in the ecosystem. We discuss key challenges that might disrupt continuing efforts to decentralize the Web and highlight multiple properties that are creating pressures toward centralization.
Geordan Shannon, Alix Faddoul, Alexander Lai, Tony Lai · 7 authors
Planet.Health addresses imagination and coordination challenges for planetary health through innovative approaches to social organising. This report presents the findings from the inaugural Planet.Health event in 2022, including the Planet.Health unconference. An unconference is a participant-driven event format that provides flexibility for emergent ideas and connections. In this (un)conference report, we share the challenges, achievements, and lessons learned during the initial year of activities in the leadup to and following the Planet.Health unconference event. We also discuss how the intersection of web3 and planetary health—a major focus of the first year—provides an alternative lens for envisioning, innovating, and coordinating beyond conventional social and institutional frameworks. We explore the potential impact of web3 technologies and decentralised social, economic, and financial networks and highlight the implications of these approaches for addressing planetary crises and supporting a flourishing human–environment relationship. As a new contribution to the planetary health field, this work emphasises the importance of building decentralised systems to foster creative actions and inspire global engagement for planetary wellbeing. The report concludes with some practical insights on how we begin to build and sustain decentralised social networks, including a discussion of the benefits and limitations of these approaches.
Rad istražuje problem scalpinga u kontekstu preprodaje ulaznica za događaje i predstavlja rješenje putem web3 aplikacije. Scalping, praksa brze preprodaje ulaznica s ciljem ostvarivanja profita, postala je široko rasprostranjena pojava koja negativno utječe na kupce i ozbiljno narušava integritet industrije događanja. Ova web3 aplikacija koristi pametne ugovore na Ethereum blockchainu i koncept nedjeljivih žetona (eng. non-fungible token) kako bi stvorila transparentno i pošteno tržište ulaznica.
The rapid growth of blockchain technology hasintroduced newsecurity challengesin decentralized systems.In this paper, we present Block-AD, a Blockchain Attack-Defense Capture The Flag (CTF) competition aimed at improving smart contract security skills and addressing evolving security threats in Next-Web3 environments. Unlike traditional CTF competitions, participants engage in attack and defense actions to exploit vulnerabilities and protect their smart contract services. This game-based approach concludes with rewards distributed from the competition’s vault and the allocation of non-fungible tokens (NFTs) as proof of participation. This approach aims to provide a fun and engaging way to improve the security skills of all participants, as well as to identify and fix vulnerabilities in smart contracts. By combining blockchain technology, CTF methodology, and Next-Web3 security, Block-AD provides a unique and innovative approach for enhancing cybersecurity skills in decentralized systems and smart contracts.
<sec> <title>UNSTRUCTURED</title> This paper explores the relationship between the development of the internet and health care, highlighting their parallel growth and mutual influence. It delves into the transition from the early, static days of Web 1.0, akin to siloed physician expertise in health care, to the more interactive and patient-centric era of Web 2.0, which was accompanied by advancements in medical technologies and patient engagement. This paper then focuses on the emerging era of Web3—the decentralized web—which promises a transformative shift in health care, particularly in how patient data are managed, accessed, and used. This shift toward Web3 involves using blockchain technology for decentralized data storage to enhance patient data access, control, privacy, and value. This paper also examines current applications and pilot projects demonstrating Web3’s practical use in health care and discusses key questions and considerations for its successful implementation. </sec>
We present an implementation of a Web3 platform that leverages the Groth16 Zero-Knowledge Proof schema to verify the validity of questionnaire results within Smart Contracts. Our approach ensures that the answer key of the questionnaire remains undisclosed throughout the verification process, while ensuring that the evaluation is done fairly. To accomplish this, users respond to a series of questions, and their answers are encoded and securely transmitted to a hidden backend. The backend then performs an evaluation of the user's answers, generating the overall result of the questionnaire. Additionally, it generates a Zero-Knowledge Proof, attesting that the answers were appropriately evaluated against a valid set of constraints. Next, the user submits their result along with the proof to a Smart Contract, which verifies their validity and issues a non-fungible token (NFT) as an attestation of the user's test result. In this research, we implemented the Zero-Knowledge functionality using Circom 2 and deployed the Smart Contract using Solidity, thereby showcasing a practical and secure solution for questionnaire validity verification in the context of Smart Contracts.
Ethereum is a major public blockchain. Besides being the second-largest digital currency by market capitalization for its cryptocurrency, the Ether (Ξ), it is also the foundation of Web3 and decentralized applications, or DApps, that are fuelled by Smart Contracts. At the time of this writing, Ethereum still uses Proof of Work (PoW) consensus algorithm to ensure the integrity of the blockchain and to prevent double spend. PoW requires the participation of miners, who are incentivized to assemble blocks of transactions by being rewarded with cryptocurrency paid by transaction originators and by the blockchain network itself via newly minted Ξ. Network fees for transaction submissions are called gas, by analogy to the fuel used by cars, and are negotiable. They are also highly volatile and hence it is critical to predict the direction they are heading into, so that one can time transaction submissions, when feasible. There have been several efforts to predict gas prices, including usage of large Mempools, analysis of committed blocks, and more recent ones using Facebook's Prophet model [Taylor, S. J., & Letham, B. (2017). Forecasting at scale. PeerJ Preprints, 5, e3190v2. https://doi.org/10.7287/peerj.preprints.3190v2]. In this study, we introduce an innovative approach that employs the DeepAR [Salinas, D., Flunkert, V., Gasthaus, J., & Januschowski, T. (2020). Deepar: Probabilistic forecasting with autoregressive recurrent networks. International Journal of Forecasting, 36(3), 1181–1191. https://doi.org/10.1016/j.ijforecast.2019.07.001] model, known for its superior forecasting accuracy over conventional methods by virtue of its ability to learn from multiple related time series. This methodology not only offers immediate advantages but also holds promise for ongoing enhancements. We substantiate our claims through empirical testing, utilizing data extracts from the Ethereum blockchain and cryptocurrency price feeds. This document is an extended version of our ICCS 2022 paper on the same topic. In this paper, we dive deeper into the internals of DeepAR forecasting algorithm [Salinas, D., Flunkert, V., Gasthaus, J., & Januschowski, T. (2020). Deepar: Probabilistic forecasting with autoregressive recurrent networks. International Journal of Forecasting, 36(3), 1181–1191. https://doi.org/10.1016/j.ijforecast.2019.07.001], analyse the correlation between the on-chain/off-chain sample data, and describe additional experiments that empirically prove our findings and, finally, perform a comparison of our outputs with those from the Prophet [Taylor, S. J., & Letham, B. (2017). Forecasting at scale. PeerJ Preprints, 5, e3190v2. https://doi.org/10.7287/peerj.preprints.3190v2] model.
Wenrui Zuo, Aravindh Raman, Raúl J. Mondragón, Gareth Tyson
Web3 social media strives to eliminate the need for centralized management by building upon on technologies such public ledgers and smart contracts. This has generated significant hype, but creates many notable challenges, many of which remain unaddressed. One such challenge is content moderation. Specifically, the immutable nature of blockchain means that it becomes impossible to retrospectively delete posts. This means that illegal content posts cannot be moderated or removed. In an attempt to overcome this, Web3 platforms, such as memo.cash, allow users to filter out posts from their personal timelines. Taking memo.cash as a use case, the goal of this work is to study the efficacy of the approach, and identify associated challenges. A particularly unique feature of memo.cash is that users must pay money (satoshi) for each social action (e.g., posting and blocking other users). We conjecture that this may impact the nature of moderation, particularly among poorer users. To explore this, we gather data from memo.cash covering 24K users, 317K posts, and 2.57M user actions. We investigate how the need to pay may impact the moderation system and propose potential solutions to address the challenges that arise.
Abstract A rising number of educational solutions based on blockchain technology have been designed. Students and other authorities responsible for verifying certificates are very concerned about the authenticity of academic credentials, either because the institutions that issue them no longer exist or because they do not keep adequate records. Blockchain technology has much to offer in education, including its high level of security, improved data access control, low cost, improved accountability, identity authentication, transparency, increased trust, and improved efficiency in managing student records. We proposed a decentralized blockchain‐based secure platform for the storage of academic certificates and student assessments with double encryption. Apart from speeding up the verification process, it will increase the safety of personal education data and assessments of all kinds of misuse. The data would only be accessed using a stakeholder's private key, and storing documents on a blockchain would increase security. We proposed a framework to offer a secure channel for educational resources. We are storing documents over blockchain utilizing an IPFS distributed data server. We give a thorough explanation of the system development, design, and evaluation of the suggested solution in terms of security and cost. Finally, we put the proposed framework to the test by deploying a smart contract prototype on the Ethereum TESTNET network in a Windows environment. The study's findings revealed that the proposed method is effective and feasible.
The class of technology variously referred to as Web3 or crypto has been heralded as a democratizing force for economics and governance. This essay argues that, to the extent such hype is justified, it is only partly due to the affordances of the technology itself. Perhaps more important is the amnesia it has induced, as an innovative paradigm whose novelty inclines people to neglect once-stable norms. In both economics and governance, crypto offers opportunities for greater democracy, but following through on them is guaranteed by neither the technology nor the amnesia it invites.
Conspicuous and inconspicuous consumption of luxury goods in a digital world: implications for advertisers this special issue focuses on the very intriguing types of luxury consumption that are shaping industry paradigms and trends, especially given the digital marketing revolution that is impacting the way luxury firms create and implement strategies to engage customers and drive sales.luxury brands communicate style, exclusivity, identity, uniqueness, superior quality, and hedonic value, all of which signal status to extended networks (Shukla and Purani 2012;Pangarkar, Patel, and Kumar 2023).While recent events, such as the CoVid-19 pandemic and the economic recession have impacted economic conditions, as per a Euromonitor international report, the luxury industry continued its impressive growth to reach USd 1.2 trillion in 2022, with a steady growth rate of around 6% (roberts 2022).according to a Kearney (2022), Chinese luxury consumers were at the forefront of this recovery, followed by US and German consumers, which led to many luxury brands such as Kering, lVMH, and Herms experiencing resurgence after a temporary setback.Most luxury brands were skeptical initially as the digital landscape started evolving and social media surge transformations were observed (Heine and Berghaus 2014).However, through being flexible and adaptive, luxury brands have employed a number of most advanced digital tools and techniques to target, attract, engage, and retain customers through digital marketing strategies and technologies such as phygital, artificial intelligence, virtual reality, augmented reality, influencer advertising, and non-fungible tokens (NFts).For instance, Gucci has created a virtual world on roblox, a popular game among young generation and also develop Gucci Vault which is an experimental online concept space that holds its NFts and other Web3 projects.Similarly, Balenciaga, made a pioneering move by unveiling their 2020 collection through a video game fashion show and dressed Fortnite game characters in the new Fall 2021 collection, which demonstrates their readiness to adopt themselves in the metaverse.against the backdrop of this digital marketing revolution, luxury advertisers need to create, adapt, and introduce innovative new strategies targeted at the various segments of luxury consumers.While luxury has long been associated with conspicuous consumption reflecting ostentatious behavior targeted at earning social recognition and signaling of wealth (Shukla 2012;Pangarkar, arora, and Shukla 2022), there are other types of consumers, such as inconspicuous consumption consumers (Berger and Ward 2010) and inconspicuous minimalism consumers (Pangarkar, Shukla, and taylor 2021) that are rapidly gaining attention, experiencing growth, and therefore warranting further exploration.in particular, the focus of such luxury consumers is on muted designs, subtle logos, discreet styles and fashions, and simple cuts, all of which signal distinction and differentiation to insiders or those in the know (Han, Nunes, and drze 2010; Pangarkar, Shukla, and taylor 2021).While luxury scholars have conducted research in these areas, it is important to explore, investigate, and analyze the impact of these different types of consumption on
Open access
Consumer Retail Behavior Studies
Consumer Behavior in Brand Consumption and Identification
Objective : tokenization of creativity, alongside with cryptoeconomy and Web3 network infrastructure, is a notable trend in the development of modern society in the third decade of the 21st century. The objective of this article is to explore the risks and prospects emerging in the process of disposition of the creative labor results in the form of non-fungible tokens. Methods : the research methodology is based on analysis of varied viewpoints on the problem, including diametrically opposing concepts. The opposing views of the observers manifest their attitude to tokenization of creative products as a speculative scheme, on the one hand, and a promising tool of creative industries development, on the other. Results : the probable negative consequences of tokenization of intellectual activity results are identified; author’s recommendations on managing these risks are given. Another result of this publication is analysis of economiclegal prospects stemming from tokenization of the objects of copyright and neighboring rights by the example of musical pieces. Scientific novelty : it consists in presenting and substantiating a hypothesis that the relations formed in the musical industry under the modern sociocultural and technological realities will be reproduced in other creative industries. Also, scientific novelty consists in the analysis of prospects of tokenization of such results of intellectual activity as gaming artifacts, works of traditional and digital visual arts, patents and scientific achievements. The use of nonfungible tokens the ecosystem of network computer games will allow gamers to buy and sell rights to game pieces autonomously from game publishers. Tokenization of industrial property objects and individualization means will ensure protection of intellectual rights of their authors while waiting for the issuance of a state protection document. In the modern society, there will be many of those wishing to become an owner of a token for a scientific work, as the popularity of science and innovations is constantly growing in developed countries. Ownership of a token for a scientific work will be regarded a moral investment, increasing the prestige and status of its owner. Tokens for scientific works have a high potential as a means of measuring value in a post-economic society. Practical significance : it consists in the description of innovative means of using creative products and business models based on tokenization of the results of intellectual activity, ready to be implemented in practice.