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Utilizing Non-fungible Tokens for an Event Ticketing System

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Blockchains and the Token Economy

Part of the book series: Technology, Work and Globalization ((TWG))

Abstract

Non-fungible tokens (NFTs) are unique and indivisible blockchain-based tokens introduced in late 2017. While fungible tokens have enabled new use cases such as Initial Coin Offerings (ICOs), the potentials of NFTs as a valuable component have not been fully exploited yet. Our work addresses this gap in theoretical and practical knowledge and demonstrates the efficacy of NFTs in the domain of event ticketing. We follow a design science research approach of designing, building, and thoroughly evaluating a prototype of an event ticketing system based on NFTs. Thereby, we demonstrate the usefulness of NFTs to tokenize digital goods, prevent fraud, and improve control over secondary market transactions. Further, we contribute generalizable knowledge of the benefits and challenges of NFTs and derive implications for both researchers and practitioners. Finally, we propose managerial recommendations for building applications utilizing NFTs and enable other researchers to draw on our findings and design principles.

This chapter is based on Regner, F., Schweizer, A. and Urbach, N. (2019) NFTs in Practice—Non-Fungible Tokens as Core Component of a Blockchain-based Event Ticketing Application, Proceedings of the 40th International Conference on Information Systems (ICIS 2019), December 15–18, Munich, Germany. Please have a look at this paper for further methodological details.

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Author information

Authors and Affiliations

  1. Investment Natives e.U., Wien, Austria

    Ferdinand Regner

  2. qbound GmbH, Gilching, Germany

    André Schweizer

  3. FIM Research Center, Project Group BISE of Fraunhofer FIT, Frankfurt University of Applied Sciences, Frankfurt am Main, Germany

    Nils Urbach

Authors
  1. Ferdinand Regner
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  2. André Schweizer
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  3. Nils Urbach
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Correspondence to Nils Urbach .

Editor information

Editors and Affiliations

  1. Sam M. Walton College of Business, University of Arkansas, Fayetteville, AR, USA

    Mary C. Lacity

  2. School of International Management, Modul University Vienna, Vienna, Austria

    Horst Treiblmaier

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Regner, F., Schweizer, A., Urbach, N. (2022). Utilizing Non-fungible Tokens for an Event Ticketing System. In: Lacity, M.C., Treiblmaier, H. (eds) Blockchains and the Token Economy. Technology, Work and Globalization. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-95108-5_12

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