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Based on these findings and additional literature, we derived the desired design objectives for the prototype. Compliant to the relevance cycle proposed by Hevner (2007), we defined our design objectives and subsequent acceptance criteria for the evaluation of the research results based on Hevner et al. (2004). Table 3 lists the design objectives and the proposed evaluation criteria and methods. Non-Fungible Tokens as Event Tickets Design Objective Description Evaluation 1. Digitization 1.1. Digital storage of all data 1.2. Digital exchange of all data Portability for tickets independent from a physical medium should be achieved (Fujimura et al., 1999). All data has to be stored and exchanged in a purely digital way (Nærland, Müller-bloch, Beck and Palmund, 2017). Validation of efficacy and completeness though simulation and descriptive methods. 2. Control over secondary market transactions 2.1. Managing transactions 2.2. Prices caps 2.3. Charging transaction fees The event organizer should be able to manage ticket transaction and earn transaction fees from any paid ticket transfer among attendees. Management policies should be determined by the ticket issuer (Fujimura et al., 1999). This includes pausing all transactions and capping ticket prices for secondary market transactions. Functional analysis of the prototype to assess efficacy and reliability through testing and simulation. 3. Independence 3.1. Decentralization 3.2. Trustfulness No centralized broker or authority should be assumed to sell tickets (Fujimura et al., 1999). Event organizers should be able to conduct business independent of intermediary parties. Assessment of efficacy and validity through testing and descriptive evaluation. 4. Security 4.1. Availability 4.2. Integrity 4.3. Privacy A secure environment is characterized by the accessibility of resources (availability), the authenticity of data (integrity), and the prevention of access to illegitimate users (privacy) (Vacca, 2013). Consistency and reliability should be verified using testing, simulation and descriptive evaluation. 5. Validation 5.1. Verifiability of ownership To increase trust in the integrity of the system, ticket ownership should be verifiable in a simple way at any time. Functional testing and simulation to assess the reliability. 6. Transparency 6.1. View current ticket ownership 6.2. Access to transaction history Ticket transaction history should be fully transparent. Current ownership status and any state change, from the creation and transfers between attendees to end of its lifecycle, should be publicly viewable. Analysis of accuracy and completeness through simulation and descriptive methods. 7. Automation 7.1. No manual interaction required after setup The event organizer should not be required to perform any manual action after an initial setup. Any policies set by the organizer should be enforced automatically. Functionality and reliability should be assessed through testing and simulation. 8. Cost Efficiency 8.1. Efficient cost structure The fixed and variable costs of the system should be economical from the event organizers point of view. Assessment of efficiency through simulation. Table 3. Design Objectives Fundamental Design Decisions A well-designed system architecture provides the roadmap for the subsequent development process (Nunamaker, Chen and Purdin, 1990). Before trying to apply a blockchain-based solution right away, we first ensured that our fundamental design decisions are well grounded. Thus, we followed the decision model by Wüst and Gervais (2017), which helps to decide if the use of blockchain technology is useful for a Fortieth International Conference on Information Systems, Munich 2019 7PDF Image | NFTs in Practice
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