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The Development of Digital Collection Platform under Responsible Innovation Framework: A Study on China’s Non-Fungible Token (NFT) Industry

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journal contribution
posted on 21.11.2022, 10:20 authored by Dandan He, Zheng LiuZheng Liu, Qingqing Yang, Lei Ma

 The combination of Non-Fungible Token (NFT) with paintings, music, games, videos and other forms of creative content is an innovation to protect the copyright of authors. It digitizes physical works with unique labels. At present, the NFT industry is blooming in the area of digital collections in China, attracting increasingly more artists, art collectors and platform enterprises to interact. However, NFT digital collection platform is facing challenges and growth limitations. This study adopts the theory framework of responsible innovation. Through semi-structured interview and secondary document review, it analyzes the positive and negative effects of China's NFT digital collections alongside technological, economical, ethical, social dimensions. The paper proposes four development paths to achieve responsible innovation of this emerging new business. Further discussion links NFT with open innovation dynamics, alongside areas for future research.   

History

Published in

Journal of Open Innovation: Technology, Market, and Complexity

Publisher

MDPI

Version

VoR (Version of Record)

Citation

He, Dandan, Zheng Liu, Qingqing Yang, and Lei Ma (2022) 'The Development of Digital Collection Platform under Responsible Innovation Framework: A Study on China’s Non-Fungible Token (NFT) Industry', Journal of Open Innovation: Technology, Market, and Complexity 8, no. 4: 203. https://doi.org/10.3390/joitmc8040203

Electronic ISSN

2199-8531

Cardiff Met Authors

Zheng Liu

Cardiff Met Research Centre/Group

  • Welsh Centre for Business and Management Research

Copyright Holder

© The Authors

Language

en