Blockchain platforms used for the exchange of decentralized digital assets regularly attract swindlers, hackers, and scammers. For ‘honest’ traders, such individuals and organizations betray the Anarcho-Libertarian spirit of collaborative experimentation that accompanied the crypto ‘ecosystem’ in the previous decade. Members of the many crypto communities that interact online therefore invest efforts in identifying and then excluding dishonest actors, mainly by digitally tracking accounts and users. Based on fieldwork with non-fungible tokens (NFTs) collectors in London, I will focus on the temporality of such acts of monitoring, which I argue constitute a post-panoptic reality wherein masking becomes intrinsic to interactions online or offline. The analysis rethinks the connection between play, uncertainty, and surveillance in conditions of hypervisibility.
This paper explores the emerging virtual economy with a specific focus on virtual goods and non-fungible tokens (NFTs), examining their unique market dynamics, social relevance, and factors influencing their valuation. The work delves into the role of social dynamics, user engagement, and speculative investments in determining the prices of virtual goods, while also addressing the speculative risks inherent in this digital marketplace. Through case studies like the Bored Ape Yacht Club (BAYC), stakeholders highlight how exclusivity, celebrity endorsements, and active community participation shape the perceived value of NFTs. This research aims to provide a comprehensive understanding of the value drivers in the NFT market and offer strategies for stakeholders to navigate volatility and achieve long-term success in the digital asset ecosystem.
This chapter reflects on the professionalisation of competitive electronic gaming both in traditional formats and within the immersive, fully digital realm of the Metaverse, and explores where and how blockchain technology underpins the Metaverse’s infrastructure, enabling new forms of identity, governance, incentives, and digital economies. Esports and multiplayer gaming platforms are blending Web3 tools with their traditional Web2 frameworks to create dynamic economies where digital assets like in-game currencies, avatar customisations, and non-fungible tokens (NFTs) can be created, traded, and monetised. These developments are reshaping esports into highly immersive, interactive experiences where players influence gameplay innovations and fans engage through digital ownership and interaction. By incorporating blockchain, tokenomics, and institutional reform, the Metaverse and esports can foster robust and equitable digital economies. These advancements promise enhanced professionalism, secure marketplaces, and innovative fan engagement, setting the stage for a transformative era in competitive gaming.
This study conducted a systematic literature review (SLR) on the function and potential of non-fungible tokens (NFTs) and blockchain technology with regard to ownership in gaming. We explored theoretical viewpoints, analytical frameworks, measures, relationships, and procedures up to 2024 to examine the relationship between NFTs, blockchain, and ownership in gaming. A four-step methodology (planning, execution, analysis, and reporting) was followed, based on Tranfield et al.'s (2003) approach. The widely adopted PRISMA technique was utilized to ensure transparency and rigor in conducting the systematic literature review. The contribution of this study lies in its exploration of how NFTs and blockchain transform ownership in gaming, marking the first comprehensive SLR on this topic from the standpoint of digital asset ownership transformation. The [*expected*] findings suggest that NFTs and blockchain significantly transform traditional ownership structures in gaming by enabling decentralized, verifiable, and transferable digital assets. However, fully realizing this potential remains challenging. Persistent issues—such as partial rather than complete decentralization, economic inequalities and speculation-driven markets, psychological complexities around player motivation, and technological hurdles like scalability and interoperability—complicate the path toward sustainable NFT-based ecosystems. Adoption appears influenced as much by hype and financial incentives as by informed choice. These insights underscore the necessity for developers, policymakers, and stakeholders to collaborate on clear legal frameworks, robust security measures, equitable economic models, and player-centric designs. In doing so, the gaming industry can foster genuine, enduring ownership experiences that align innovation with fairness, trust, and meaningful engagement.
Videogames, a globally dominant form of media entertainment, are increasingly sites for experimentation and new technological developments. One such example can be seen with the intersection of games and blockchain technology. Cryptogames, as they are known, have recently created a model known as “play-to-earn” (P2E); specifically, where players accumulate and trade crypto assets, such as coins and nonfungible tokens, in exchange for real-world currency. For its proponents, play becomes analogous to work, adding to the tradition of games intersecting with labor and money. In this chapter, I argue that P2E, while promising financial prosperity, can perpetuate economic disparities that foster exploitative practices while exposing players to financial risk. This chapter challenges the commonly touted utopian narrative of P2E ushering in economic prosperity, particularly for users in the developing world.
This study introduces GenePixKolor (GPK) fusion, an innovative approach to non-fungible token (NFT) generation and rarity ranking tailored for the gaming industry and tokenomics ecosystems. GPK Fusion leverages genetic algorithms, image processing and machine learning to create a comprehensive, four-stage system that optimizes both the trait generation and visual appeal of NFTs, while providing an advanced rarity ranking mechanism. The GPK Fusion’s rarity ranking method uniquely combines trait-based and pixel-based evaluations. Pixel rarity was assessed using color distribution for overall aesthetic appeal, and trait rarity was assessed using trait combinations. Fusing pixel rarity with trait rarity provides a more holistic assessment of an NFT’s uniqueness, balancing functional value with visual attractiveness. This approach addresses the limitations of existing rarity calculation methods, offering a more nuanced and comprehensive evaluation of the NFT. Empirical comparisons demonstrate that GPK Fusion consistently produces NFTs with superior trait combinations and enhanced visual appeal compared to traditional methods. Its rarity ranking shows a strong correlation with practical valuation strategies in real-time trading environments and enhances the NFT marketplaces. This research contributes to the evolving field of NFT design and valuation by providing game developers and tokenomics strategists with a powerful tool for creating, evaluating and ranking digital assets. GPK Fusion’s methodology opens new avenues for creating more engaging, visually striking and balanced NFTs. GPK potentially revolutionizes asset creation and valuation in the rapidly growing intersection of gaming and blockchain technologies.
With the rapid advancement of technology, the transformation of images into digital codes has enabled computer technologies and their derivatives to be included in the art environment, production, and exhibition methods, as well as traditional tools used in artworks. Blockchain and NFT technology, which emerged because of these developments, merged with art to create a new digital art field. This new technology offers new perspectives on the preservation, exhibition and evaluation of art and plays an important role in the digital art economy. The main problematic of this study is to develop an in-depth understanding of the rise of NFT (Non-Fungible Token) technology in the art world and how this new digital art form is perceived by virtual communities. The effects of NFT on the production, distribution, appropriation, and evaluation of artworks have provoked different reactions among artists and art lovers. This study aims to reveal the value, acceptance, and criticism of NFT art in virtual communities through a netnographic analysis. In this study, the perspectives of virtual communities on NFT were examined using a netnographic analysis method. For this purpose, forum sites such as Donanım Haber, R10, Reddit, Shift Delete and Technopat, which have high traffic and active members, were selected and the content shared on these sites between January and October in 2021, when NFT was popular, was analyzed. Discussions, comments, and opinions about NFT on these sites were analyzed in depth. As a result of the study, it was determined that NFT has received various reactions in the art world, some users find this technology meaningless and speculative, while others see NFT as a revolutionary step in the digitalization of art. It is concluded that NFT offers new opportunities to artists and collectors by securing the ownership, authenticity, and trade of artworks in a digital environment.
The Regenerative Finance (ReFi) movement is gaining traction in the Web3 space, with numerous blockchain-based initiatives claiming alignment with regenerative outcomes. However, many of these claims remain vague or structurally unsubstantiated. This study evaluates 40 self-identified ReFi initiatives to determine the extent to which their design, governance, capital structures, and impact logic align with foundational regenerative principles. Drawing from regenerative economics, living systems theory, and regenerative organizational design, a structured evaluation framework was developed covering six dimensions across three domains: regenerative finance, real-world impact, and regenerative organizational design. The framework informed two scoring-based questionnaires, enabling systematic assessment of regenerative and impact claims. Results revealed significant variation in alignment: 50% of initiatives were categorized as Regenerative Finance (ReFi), 45% as Sustainable DeFi, and 5% as Structurally Misaligned, reflecting limited coherence between regenerative claims and actual practice. The findings showed that team diversity and initiative maturity were positively correlated with regenerative performance, and that a lack of holistic impact evaluation—across thematic dimensions and throughout operational, direct, and indirect value chains—remains a key limitation across the sector. A typology of regenerative alignment and a replicable self-evaluation tool were developed to help funders, practitioners, and protocol developers assess which ReFi initiatives are structurally aligned with regenerative principles and which remain aspirational. This research advances conceptual and practical clarity around the term “regenerative” in Web3, supporting the evolution of more accountable, transparent, and transformation-oriented financial systems in service to the Global Commons.
Airdrops represent a pivotal strategic instrument for Web3 projects, serving to distribute free tokens and motivate early adoption. However, the popularity of these tokens has fueled the emergence of airdrop hunters—individuals who exploit multiple transactions to acquire disproportionate amounts of tokens unfairly. This phenomenon threatens the integrity and fairness of the Web3 community. Current detection methods struggle with high false-positive rates, harming legitimate users, and require significant computational resources for training. Furthermore, these methods face challenges in adapting to the evolving tactics of airdrop hunters, leading to diminished detection accuracy and efficiency. We introduce ARTEMIX, a community-boosting-based framework that integrates custom-engineered features and community detection techniques to identify airdrop hunters in NFT transactions. Using data from the Blur NFT market, ARTEMIX demonstrates superior accuracy and efficiency, outperforming existing graph-based inference models, achieving an F1 score of 0.898. This approach provides a scalable and effective solution to anomaly detection in the Web3 ecosystem, promoting a more secure and equitable environment for token distributions.
In the rapidly evolving landscape of GameFi, a fusion of gaming and decentralized finance (DeFi), there exists a critical need to enhance player engagement and economic interaction within gaming ecosystems. Our GameFi ecosystem aims to fundamentally transform this landscape by integrating advanced embodied AI agents into GameFi platforms. These AI agents, developed using cutting-edge large language models (LLMs), such as GPT-4 and Claude AI, are capable of proactive, adaptive, and contextually rich interactions with players. By going beyond traditional scripted responses, these agents become integral participants in the game's narrative and economic systems, directly influencing player strategies and in-game economies. We address the limitations of current GameFi platforms, which often lack immersive AI interactions and mechanisms for community engagement or creator monetization. Through the deep integration of AI agents with blockchain technology, we establish a consensus-driven, decentralized GameFi ecosystem. This ecosystem empowers creators to monetize their contributions and fosters democratic collaboration among players and creators. Furthermore, by embedding DeFi mechanisms into the gaming experience, we enhance economic participation and provide new opportunities for financial interactions within the game. Our approach enhances player immersion and retention and advances the GameFi ecosystem by bridging traditional gaming with Web3 technologies. By integrating sophisticated AI and DeFi elements, we contribute to the development of more engaging, economically robust, and community-centric gaming environments. This project represents a significant advancement in the state-of-the-art in GameFi, offering insights and methodologies that can be applied throughout the gaming industry.
Nos últimos anos, tem-se assistido a um interesse crescente numa Web cada vez mais descentralizada - a Web3. Apesar de existirem diferentes perspectivas em torno do propósito da descentralização como o uso da blockchain ou o controlo total de dados por parte dos utilizadores, continua a persistir uma lacuna na indústria de jogos relativamente à relação assimétrica em termos da presença online e estratégias de monetização entre estúdios de jogos duplo-A ou triplo-A e desenvolvedores indie ou solo. A Blockbastards é uma empresa que oferece uma plataforma que disponibiliza diferentes jogos digitais numa lógica Play-to-earn com a inclusão de assets interoperáveis - Interoperable Game Assets - IGA. Esta dissertação tem por objetivo compreender como é que a interoperabilidade de assets como Nonfungible tokens -NFTs pode afetar a experiência de jogo. Para isso, dois desenvolvedores de videojogos foram entrevistados relativamente a Web3 gaming e interoperabilidade e 28 participantes experimentaram a criação de Non-fungible tokens -NFTs na plataforma QUDO - NFT Garage tendo reportado a experiência através do preenchimento do Game Experience Questionnaire - GEQ no que concerne o módulo principal, presença social, e momento pós-jogo, bem como as caractecterísticas do NFT como a autenticidade, raridade, valor e interoperabilidade. As entrevistas indicam que apesar de existirem desafios como a má reputação dos NFTs, restrições por parte de certos países e a viabilidade e balanceamento da transação de assets em diferentes jogos, a interoperabilidade de conteúdo gerado pelo utilizador, nomeadamente game modding e a troca de tokens por moeda que permitem dinamizar a procura dos consumidores por diferentes tipos de jogos, são aspectos a reforçar. A avaliação dos IGA no NFT Garage revelou que a maior parte dos participantes valoriza a capacidade de personalização do asset, nomeadamente a sua aparência, salientando o seu valor único e reutilização em vários jogos. Porém, ainda não existe muita familiaridade com o conceito de NFT nem intenção de obtenção de NFTs por parte dos participantes. Este estudo contribui com um conjunto de implicações do desenvolvimento de Web3 Gaming para a experiência de jogo.
This paper examines the role of hardware security as the basis for order in the decentralised metaverse. It does this by considering the infrastructural tools and governance practices at the heart of KONG Land, an example of a blockchain-based decentralised autonomous organisation (DAO) and decentralised physical infrastructure network (DePIN) project. KONG Land manufactures open-source microchips to create verifiable hardware that anyone can use or integrate into their own application. KONG Land’s focus on the materiality of infrastructure led them to pursue a governance model as a digital-physical, politically decentralised polity. By foregrounding the physicality and affordances of decentralised efforts to manufacture microchips, this paper shows how rematerialising digital domains leads back to questions of statehood and its purpose and provides an explanation for emerging sovereignties. Building on Olson’s (1993. Dictatorship, democracy, and development. American Political Science Review , 87 (3), 567–576) theory of the stationary bandit, the paper positions projects like KONG Land as an attempt to create a ‘better bandit’ – one that sets out to provide its citizens with a superior level of security than that offered by either nation states or the corporate metaverse, with the intention of creating the conditions for Web3 production and expansion.
Abstract This concluding chapter synthesises the key arguments and insights presented throughout the book, reaffirming Web3 as an experimental, niche technology that serves dual purposes: envisioning our digital future and critiquing current structural inequalities. It emphasises Web3 as a social solution where communities actively construct digital architectures to experiment with alternative futures. The chapter distils the insider–outsider dynamics that have been a recurring motif in Web3 communities, consolidating patterns and divergences observed across various initiatives. By revisiting case studies – including drug cryptomarkets, decentralised finance, Art NFTs, Bitcoin as legal tender, decentralised identity technologies, and decentralised physical infrastructure networks – it illuminates how Web3 reflects broader societal aspirations and concerns about digital interaction and governance. These insights lead to a focused discussion on policy implications, considering how Web3’s realities might inform regulatory approaches and governance structures. The chapter then offers a reflection on potential future trajectories of the internet, examining Web3’s role in highlighting socially proofed concerns that demand collective attention. Critical reflections on the book’s key sociological contributions situate the intersection of technology and community within socio-technical transformation. The chapter concludes with a call to action, urging readers, industry stakeholders, policymakers, and the wider public to actively participate in shaping a more equitable digital future.
As an emerging video game genre in recent years, blockchain games have attracted substantial attention due to the strengths of blockchain technology and the popularity of Web3 ideals. However, blockchain games have encountered a dilemma due to the inability to attract traditional video game players. In this paper, we compare data gathered from Twitter, webpages, and research literature through the grounded theory (Glaserian approach) to uncover that the key to transcending the current state lies in the innovation of native and engaging game mechanics. We propose a design framework for blockchain game mechanics derived from the concept of emergent games, which integrates the basic elements of emergent games with the unique features of blockchain technology, discussing its potential design directions. Finally, we implement a high-fidelity prototype to serve as a case, instantiating a novel mechanic based on this framework and providing early proof of feasibility.
Ken Huang, Youwei Yang, Fan Zhang, Xi Chen · 5 authors
Chapter 2 leverages first principles thinking to reveal the seismic shift enabled by Web3’s self-sovereign Internet and decentralized economic architecture. Opportunities emerge in infrastructure, access, efficiency, accountability, and empowerment. On-chain data sharing and self-sovereign identity allow efficient bootstrapping in an open ecosystem. Decentralized finance increases financial access, while blockchain ID could facilitate inclusive programs such as universal basic income. By automating manual workflows, smart contracts and traceability boost efficiency. Immutable blockchain ledgers enhance transparency via innovations such as triple-entry accounting. The creator economy shifts power by enabling direct content monetization and ownership through NFT marketplaces, decentralized social platforms, and games. Despite adoption hurdles, Web3 fundamentally reshapes incentives around user control over identity, data, and value creation in a decentralized economy. Capturing the full potential requires reimagining economic systems, not just optimizing current models. This epochal shift promises to unlock tremendous value by aligning technology with empowerment in an open, user-centric Internet.
Bilgi sistemlerinin ve kitle iletişim araçlarının teknolojik dönüşümü, dijital çağın önemli bir parçası olarak karşımıza çıkmaktadır. 21. yüzyılda, internetin ve bilgisayar teknolojilerinin gelişimi, bilgi sistemlerini sanal ortama taşımış ve modern hayatın pek çok alanında değişim yaratmıştır. Bu dönüşüm, kitle iletişim araçlarının evrimini hızlandırmış ve farklı disiplinler arasında yakınlaşmayı sağlamıştır. Sanat da bu değişimden etkilenmiş, dijital teknolojilerle yeni bir boyut kazanmıştır. Dijitalleşmenin sunduğu olanaklar sayesinde sanat eserleri, coğrafi sınırlamaları aşarak geniş kitlelerle anlık iletişim kurabilmektedir. İnternet aracılığıyla dolaşıma giren dijital eserler, teknik olanaklar sayesinde tekrar üretilebilir ve ticari ekosistemler oluşturulabilir. Bu bağlamda, Non-Fungible Token (NFT) teknolojisi, dijital sanatın özgünlüğünü ve sahipliğini garanti altına alarak sanatın dijital dünyadaki yerini sağlamlaştırmaktadır. NFT'ler, sanat eserlerinin dijital ortamda değerli birer varlık olarak kabul edilmesini sağlar ve sanatın ticaretini kolaylaştırır. Bu çalışmanın amacı, NFT teknolojisi ile üretilen sanat eserlerinin dijital kültüre katkısını incelemektir. Çalışmanın temel sorusu NFT teknolojisi ile üretilen sanat eserlerinin dijital kültüre ne ölçüde katkı sağladığıdır. Seçmece yöntemle belirlenen içerik analizi ile araştırılmış olan bu çalışma, dijitalleşen sanat medyumlarının kültürel etkinliğini sorgulayarak literatüre önemli bir katkı sağlamayı hedeflemektedir. Dijitalleşme ve teknolojinin her geçen gün gelişmeye devam etmesi, bu çalışmada yapılan araştırmaların ve parametlerin (ulaşılabilirlik vb. durumlar nedeni ile hedef kitlelerin değişmesi ve satış oranlarının etkilenmesi) değişebilmesi durumu bu çalışmanın sınırlıklarıdır. NFT teknolojisinin sanat üzerindeki etkileri ve dijital kültürdeki rolü, sanatın geleceği ve dijitalleşmenin sanatsal üretim üzerindeki etkileri hakkında derinlemesine bilgi sunacaktır.
In an era where two-fifths of the global population is engaged in gaming, this industry’s technological and economic evolution is of paramount importance, promising continued growth. Beyond mere entertainment, gaming has become a primary medium for social interaction, enriched by technologies like virtual, augmented, and extended reality. Gaming has increasingly become intertwined with the financial market as game developers shift their focus from gameplay enjoyment to monetization of in-game assets and some players prioritize the potential for livelihood in gaming. This transformation has been accelerated by the integration of blockchain, decentralized finance (DeFi) protocols, and non-fungible tokens (NFTs), which provide users with more control over their in-game assets and enable external trading of such assets in the secondary market. This chapter delves into this integration, examines its impact on the gaming industry, and provides a high-level overview of key related legal and ethical issues that warrant further exploration.
Paul Hancock, Gert Jan van Hardeveld, Jarek Jakubcek, Babak Akhgar · 6 authors
Tracing cryptocurrency transactions is a far from trivial process. This likely explains the increasing utilisation by criminal networks for a significant amount of criminal activity, not just cybercrime, but any crime requiring monetary transfers [ 1 ]. It is, therefore, vitally important that adequate training exists and is readily available for both new and experienced investigators to ensure that they are familiar with the latest techniques, tools and trends. Traditional training methods can be costly and resource-intensive, requiring highly qualified trainers to give their time to conduct training sessions. To address this issue, a training resource, in the form of a serious game, has been created. The game aims at providing a platform to improve the skills and expertise of law enforcement officers whilst reducing the workload of experienced investigators. This article describes the collaborative design and development of the serious game Cryptopol in a partnership between Europol and CENTRIC, which is a multi-disciplinary and end-user focused Center of Excellence, located within Sheffield Hallam University. Cryptopol is the first cryptocurrency-tracing training game of its kind, used by over 1,500 people representing over 550 law enforcement agencies from across the world.