Non-Fungible Tokens (NFTs) Have Gone Mainstream

IEEE Computer Society Team
Published 03/24/2021
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Non-Fungible TokensOver the past month, Non-Fungible Tokens (NFTs) have become a topic of interest in popular media. Taco Bell issued NFTs for digital art collectibles, while Jack Dorsey, CEO of Twitter and Square, received a bid of $2.5 million for an NFT of the first ever tweet. Elon Musk rejected a $1 million offer to buy one of his tweets as an NFT after originally offering to sell it.

However, the foundation of the technology would not have been possible without the research of talented computer and software engineers. In 2020, “A Framework for Creating Deployable Smart Contracts for Non-fungible Tokens on the Ethereum Blockchain” was published in the IEEE International Conference on Decentralized Applications and Infrastructures proceedings, which is now available in the IEEE Computer Society Digital Library (CS Digital Library).

The paper explains that “Ethereum is the first blockchain-based decentralized computing platform that has standardized this type of tokens into a well-defined interface, namely ERC721.” Read the full article and checkout other blockchain related content in the CS Digital Library.

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