INNOVATIVE DIGITAL OWNERSHIP AND COLLECTIBLES VIA PROOF OF STAKE (POS) AND NON-FUNGIBLE TOKENS (NFTS)
DOI:
https://doi.org/10.29284/ijasis.10.1.2024.22-34Keywords:
Digital Ownership, Proof of Stake, Non-Fungible Tokens, Blockchain Technology, SustainabilityAbstract
The merger of Proof of Stake (PoS) with Non-Fungible Tokens (NFTs) might revolutionize digital ownership and collections. PoS's impact on NFT generation, administration, and security will be examined to create a sustainable, energy-efficient framework. PoS systems' environmental impact compared to Proof of Work (PoW), economic effects on producers and collectors, and digital asset security advantages are examined. The purpose is to explain how PoS may transform the NFT ecosystem and improve digital ownership models. This study highlights the complementarity between blockchain technology and digital assets, suggesting PoS might fuel innovation in the fast-changing digital collectibles industry. The results will inform sustainable and safe blockchain application discussions. Results from Digital Asset Ownership indicate 5 owners' digital ownership distribution. A % random sample was collected for 3 Assets. Values vary from 10-30 for Asset 1, 10-40 for Asset 2, and 10-30 for Asset 3. Fluctuation of Ownership from January to May 2024: Asset 1 20-30, Asset 2 35-42, Asset 3 15-25. In the correlation between ownership concentration and asset value for Top 1–5, Asset 1 ranges from 50–100, Asset 2 from 40–90, and Asset 3 from 60–95.
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Copyright (c) 2024 Mageshkumar Naarayanasamy Varadarajan, Senthil Kumar Seeni
This work is licensed under a Creative Commons Attribution 4.0 International License.
This work is licensed under a Creative Commons Attribution 4.0 International License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
