A Case Study of NFT Utilization According to Global Marketplace ‘Opensea’ Categorization

Abstract

This paper analyzed NFT cases for each type based on the type classification provided by Opensea the world's No. 1 NFT marketplace, and explored the possibility of NFT being used in the entertainment industry. Among the nine types in total, including Art, Photography, Music, Gaming, Sports Collectibles, Memberships, Profile Pictures (PFPs), Virtual Worlds, and Domain Names, eight of them showed potential for integration with the entertainment industry. Each type could be categorized into three directions: NFT as digital merchandise, NFT as a new method of content creation and production, and NFT as a means to expand and enhance fandom and intellectual property (IP). We hope that the various cases presented and the analysis in this study can inspire various genres of entertainment businesses, such as music, film, musicals, and performances. We also hope that ongoing research from various perspectives on technology, content, and industry markets will contribute academically and industrially.