💡 Background
Non-fungible tokens, or NFTs, are pieces of digital content linked to the blockchain. Assets, as we know them, are fungible, meaning they can be replaced or exchanged with another identical one of the same value, much like a dollar bill. NFTs, on the other hand, are unique and not mutually interchangeable, which means no two NFTs are the same.
In very simple terms, NFTs transform digital works of art and other collectibles into one-of-a-kind, verifiable assets that are easy to trade on the blockchain. The venue where these tokens are traded is called a marketplace.
Students who are new in the NFT space can watch this video to get an overview of this type of token, the technology behind it, and the potential applications.
This website also gives an overview of the existing NFT marketplaces.
🦾Who We Are
The Chair for Strategy and Organization is focused on research with impact. This means we do not want to repeat old ideas and base our research solely on the research people did 10 years ago. Instead, we currently research topics that will shape the future. Topics such as Agile Organizations and Digital Disruption, Blockchain Technology, Creativity and Innovation, Digital Transformation and Business Model Innovation, Diversity, Education: Education Technology and Performance Management, HRTech, Leadership, and Teams. We are always early in noticing trends, technologies, strategies, and organizations that shape the future, which has its ups and downs.
🎯 Goals
A project approach might look roughly as follows:
- Identification of digital objects that are suitable for an NFT. Ideally, these would be objects that are already available in digital form at the museum (e.g., objects that have already been digitized for archiving or possibly for exhibitions). In the first step, objects that have already been offered in the museum store, such as postcards of exhibits (for which there must already be a digital original), could also be suitable.
- Selection of technical infrastructure. One would have to conduct an assessment of which blockchain would be most suitable for such a project (e.g., in terms of transaction speed and transaction costs). Ethereum is the most common platform with the most development resources, but probably currently unsuitable due to its high transaction costs. New blockchains such as FLOW should be looked at as part of the analysis.
- Integration into web platform: One would have to consider how exactly to integrate such an NFT marketplace. It probably makes the most sense to develop a closed marketplace at the beginning, so that transactions are only processed within the developed platform. Once this has been implemented, the next step is to consider how to connect the platform to a blockchain so that NFTs can also be transferred outside the platform.
- Marketing concept: Questions such as the following should be answered here: In what quantity should the NFTs be issued (unique/limited quantity)? How can a large audience be addressed? How can one profit from the current hype in the professional scene? How to create "awareness" for the project? It would also be very cool/innovative to set up a digital museum in Decentraland and exhibit works from the museum there.
🎓 Profile
- Reliable and self-driven
- Enthusiasm for Blockchain / NFTs / Art / Innovation
- Ability to do internet and desk research, connect with practitioners, conduct experimental studies
- Passion to learn more about the future and do research with impact
📚 Further Reading
Trautman, L. (2021, April). Virtual Art and Non-fungible Tokens. Available at SSRN: https://ssrn.com/abstract=3814087 or http://dx.doi.org/10.2139/ssrn.3814087
Cascone, S. (2021, March). The World's First 'Major' NFT Art Exhibition Is About to Take Place in Beijing, Headlined by Beeple, Fewocious, and Mad Dog Jones. artnet. https://news.artnet.com/exhibitions/crypto-art-show-ucca-beijing-1949592
Bailey, J. (2019). Blockchain Art 3.0 - How To Launch Your Own Blockchain Art Marketplace. Artnome. https://www.artnome.com/news/2019/2/27/blockchain-art-30-how-to-launch-your-own-blockchain-art-marketplace
Some NFT Artists on Twitter (where the action happens):
https://twitter.com/Mad_Dog_Jones
Some notable NFT projects:
And many more...
📄 Requirements to any Work
We do not want your research to gather dust in some corner of bookshelf but make it accessible to the world. Thus, we warmly encourage you to create some or all of the following:
- Infograph - visually represent some of your work (find examples here)
- Slide Deck - summarize your research and possibly present it
- Extract most important sequences from podcasts, videos, and other media
- 3-4 Tweets about the most important findings and summarizing the topic
- optional: Medium Article - let people outside the university know about your research and start your personal brand
📬 How to Apply
If you are interested, please contact Prof. Dr. Isabell Welpe (e-mail below) by submitting your CV and grade report. Please also briefly outline your tentative research idea (research question, data and methods, possible outcomes with a tentative outline all in word as *.docx)
We're greatly looking forward to hearing more about you!
👉 welpe@tum.de