The Development of Digital Collection Platform under Responsible Innovation Framework: A Study on China’s Non-Fungible Token (NFT) Industry
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.
Published inJournal of Open Innovation: Technology, Market, and Complexity
VersionVoR (Version of Record)
CitationHe, 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
Cardiff Met AuthorsZheng Liu
Cardiff Met Research Centre/Group
- Welsh Centre for Business and Management Research