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First-generation blockchain technology, such as Bitcoin, only supported simple assets. However, with the introduction of Ethereum, the second-generation blockchain, smart contracts became possible, leading to its use in various fields. The concept of Non-fungible tokens (NFTs) was specified in the Ethereum Request for Comment (ERC-721), and they have proven to be useful in expressing digital assets on the metaverse and its economic system through blockchain technology. NFTs can be traded with transaction fees paid to content creators or artists, providing motivation for metaverse platforms. Interoperability between metaverse platforms will be gradually achieved through agreements or intermediary service providers. In the initial stage, this may involve partial item compatibility through agreements, but in the long-term, an autonomous model with predefined protocols is expected.
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IEEE/ICACT20230032 Slide.02
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