Knowledge development in non-fungible tokens (NFT): a scoping review

Abstract

The purpose of this paper is to investigate the potential of NFTs in revolutionizing innovation management and information systems. Innovations done by firms are blatantly used by other firms to develop cheap knock-off. This leads to huge economic loses to the firm investing in research and development activities. Firms are in need of trusted, immutable and verifiable means of storing information which cannot be used by others, even if publically available without their consent. Non-fungible tokens (NFTs) appear to be one such solution to this problem that has recently attracted a lot of investor interest. Using NFTs the information is tokenized and is stored in a secure manner.