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Rewarding Developers by Storing Applications on Non-Fungible Tokens

Author

Listed:
  • Ayesha Kalhoro

    (Department of Computer Science, Sindh Madressatul Islam University, Karachi 74000, Pakistan)

  • Asif Ali Wagan

    (Department of Computer Science, Sindh Madressatul Islam University, Karachi 74000, Pakistan)

  • Abdullah Ayub Khan

    (Department of Computer Science, Sindh Madressatul Islam University, Karachi 74000, Pakistan
    Department of Computer Science and Information Technology, Benazir Bhutto Shaheed University Lyari, Karachi 75660, Pakistan)

  • Jim-Min Lin

    (Department of Information Engineering and Computer Science, Feng Chia University, Taichung City 407102, Taiwan)

  • Chin Soon Ku

    (Department of Computer Science, Universiti Tunku Abdul Rahman, Kampar 31900, Malaysia)

  • Lip Yee Por

    (Department of Computer System and Technology, Faculty of Computer Science and Information Technology, Universiti Malaya, Kuala Lumpur 50603, Malaysia)

  • Jing Yang

    (Department of Computer System and Technology, Faculty of Computer Science and Information Technology, Universiti Malaya, Kuala Lumpur 50603, Malaysia)

Abstract

Non-fungible tokens (NFTs) are individual tokens with valuable information stored inside them over blockchain technology. They can be purchased and sold like other physical and virtual art pieces because their worth is mostly determined by the market and demand. The unique data of NFTs render it simple to verify and authenticate their ownership and transfer of tokens between owners. However, in Pakistan, developers cannot acquire different licences to accomplish their projects not because they cannot afford it, but because they cannot invest in every piece of software to accomplish each new sensitive task. Rather, they can render the product platform independent. Considering this technology, this paper provides IT professionals with a new NFT approach and business policies that solely belong to the information technology domain. In addition, this paper also introduces how NFT tokens can hold software applications. Since we can store files, we can let NFTs also store complete applications to help developers in further utilising virtuality and having the metaverse at their fingertips. Whenever they succeed in a project, they never receive rewards, and their skills only pay the bills. In a nutshell, this paper presents a prototype of NFTs that would be further polished to save and utilise applications in a decentralised manner while rewarding the developers.

Suggested Citation

  • Ayesha Kalhoro & Asif Ali Wagan & Abdullah Ayub Khan & Jim-Min Lin & Chin Soon Ku & Lip Yee Por & Jing Yang, 2023. "Rewarding Developers by Storing Applications on Non-Fungible Tokens," Mathematics, MDPI, vol. 11(11), pages 1-12, May.
    • Handle: RePEc:gam:jmathe:v:11:y:2023:i:11:p:2519-:d:1160022
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    References listed on IDEAS

    as
    1. Hakkarainen, Tuuli & Colicev, Anatoli, 2023. "Blockchain-enabled advances (BEAs): Implications for consumers and brands," Journal of Business Research, Elsevier, vol. 160(C).
    2. Ko, Hyungjin & Son, Bumho & Lee, Yunyoung & Jang, Huisu & Lee, Jaewook, 2022. "The economic value of NFT: Evidence from a portfolio analysis using mean–variance framework," Finance Research Letters, Elsevier, vol. 47(PA).
    3. Christian Pinto-Gutiérrez & Sandra Gaitán & Diego Jaramillo & Simón Velasquez, 2022. "The NFT Hype: What Draws Attention to Non-Fungible Tokens?," Mathematics, MDPI, vol. 10(3), pages 1-13, January.
    4. Gunay, Samet & Kaskaloglu, Kerem, 2022. "Does utilizing smart contracts induce a financial connectedness between Ethereum and non-fungible tokens?," Research in International Business and Finance, Elsevier, vol. 63(C).
    Full references (including those not matched with items on IDEAS)

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