- 期刊
初探非同質化代幣－機制與市場
A Preliminary Study on Non-Fungible Tokens - Mechanisms and Markets
摘要
非同質化代幣（Non-Fungible Token, NFT）的興起，帶動了相關區塊鏈技術的應用與交易市場的崛起，迅速成為在網際網路上交易虛擬資產所有權的平台，其交易標的包含藝術品、數位影音，甚至是推特文章。NFT為區塊鏈應用帶來全新的概念與創新，其整合區塊鏈技術與智能合約之特點，使其交易具有去中心化、自動化、紀錄公開透明的特質。在此去中心化的系統中，無需第三方的介入，便可以完整紀錄交易細節，具安全且公開的特性，並基於ERC721協定，將每一個NFT視為獨一無二的個體，並運用智能合約技術，進行交易，轉移NFT的所有權；此過程只需要一台行動裝置，顛覆了過往藝術品或數位商品之交易模式。本文將探討NFT市場背後區塊鏈與智能合約的歷史和核心技術，及其衍伸出來的優劣勢，並回顧NFT歷史交易紀錄與交易平台。透過介紹NFT上架到出售的過程，佐以總體的角度分析NFT市場的發展趨勢，及與交易媒介以太幣的關係。我們更運用資料科學技術，分析初級與次級市場資金流向、規模大小。另外也從個體交易的觀點，研究各類別NFT的交易金額、交易次數、平均交易價格和活躍錢包數量，藉此探究其初級與次級市場的發展情況，作為區塊鏈技術重要商業應用之初探研究。
並列摘要
The rise of Non-Fungible Tokens (NFTs) has driven the rapid development of blockchain applications and the emergence of the trading market. NFT rapidly becomes popular in the marketplace where traders can exchange the ownership of virtual assets, including artwork, digital video, and even Twitter articles on the internet. NFT brings new concepts and innovations to blockchain technologies, and the integration of blockchain and smart contracts makes transactions with decentralization, automation, openness, and transparency. This decentralized system, without third-party interventions, completely records the transaction data, which is secure and transparent. With the ERC721 contract, every NFT is a unique and unmatched individual asset. Both sellers and buyers can conduct the transactions and transfer the ownership of NFTs through the content stipulated in the smart contracts. The process only requires one mobile device, which subverts the previous transaction method on art and digital commodities. This article discusses the history and core technologies of blockchain and smart contracts behind NFT and its marketplace. First, we reviewed the historical transaction records and trading platforms of NFTs. Then, we analyze the emergence of the NFT market using data science, including the capital flow and the scale of the primary and secondary markets. Besides, we study the transaction sales, number of transactions, average price, and active wallets of each category of NFT individually to explore their development of the primary and secondary markets as preliminary research on significant commercial applications.