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Legitimate users can use the required information when needed and will not lose data resources due to accidental errors. However, DoS can also be used to attack the centralized web applications or the raw data outside the blockchain, resulting in denial-of-service to NFT service. Recently, a new hybrid blockchain architecture with weak consensus algorithm was proposed [111], by which this architecture solves the availability issues using two algorithms. Elevation of Privilege. Elevation of Privilege [106] is a property that is related to the authorization. In this type of threat, an attacker may gain permissions beyond those initially granted. In the NFT system, the selling permissions are managed by a smart contract. Again, a poorly designed smart contract may make NFTs lose such properties. 5 Opportunities This section explores the opportunities of NFTs. We discuss several typical fields which may get benefits from NFTs. Boosting Gaming Industry. NFT has great potential in the gaming indus- try. There already exist some crypto games are CrytpoKitties [19], Cryptocats [18], CryptoPunks [20], Meebits [38], Axie Infinity [9], Gods Unchanged [29], and TradeStars [61]. A fascinating feature of such games is the “breeding” mecha- nism. Users can personally raise pets and spend much time breeding new off- spring. They can also purchase the limited/rare edition virtual pets, and then sell them at a high price. The extra reward attracts lots of investors to join the games, making NFTs come to prominence. Another exciting functions of the NFT are that it provides ownership records of items in the games and promotes economic marking place in the ecosystem, benefiting both developers and play- ers. In particular, game developers who are NFT publishers of the features (e.g., weapons and skins) can earn royalties each time their items are (re-)sold on the open market. The players can obtain personal exclusivity game items. This will create a mutually beneficial business model in which both players and develop- ers profit from the secondary NFT market. After that, blockchain communities extend NFTs to a large extent that covers various types of digital assets. Flourishing Virtual Events. Traditional online events rely on centralized companies that provide trust and technology. Although blockchain takes over several types of activities like raising money (either by ICO/IFO/IEO/etc.), its applications are still constrained in a small range of events. NFTs greatly extend the scope of blockchain applications with the help of their additional properties (uniqueness, ownership, liquidity). This enables each individual to link to a specific event just like the patterns in our real life. We give the instance of the ticketing event. When buying tickets in a traditional event ticket market, consumers must trust the third party. Therefore, there is a risk of buying fraud- ulent or invalid tickets, which are possibly counterfeit or might be cancelled. The same ticket may be sold many times or obtained by extracting from ticket 11PDF Image | NFTs Non-Fungible Tokens Focus
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