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blockchain protocols and legal institutions. Further, public knowledge about NFTs is still scarce. For these challenges, we expect its role to be restricted to a backend component rather than being directly visible for retail users. Nonetheless, we consider NFTs a highly valuable component for blockchain-based systems with the potential to enable many more practical use cases apart from the one discussed in this paper. Conclusion We have investigated NFTs as an emerging phenomenon and evaluated NFTs as a core building block for a blockchain-based event ticketing system. We followed a design science approach based on the guidelines by Hevner et al. (2004) and iteratively developed a prototype. Through the process of designing, building, and evaluating the NFT-based prototype, we were able to generate several relevant findings regarding benefits and challenges of the new token type. We found that NFTs can help to overcome the current weaknesses of existing non-blockchain event ticketing systems, such as susceptibility to fraud, lack of control over secondary market transactions and validation of ownership. Further, our findings indicate that the use of NFTs currently poses several challenges, mostly inherited from the underlying blockchain protocol. Since we have shown that work on solutions to overcome these challenges is currently in progress, we propose further research to re-assess the state of these challenges in the near future. Before highlighting the contributions of our research, we must consider its limitations. First, by considering a specific use case in detail and following a rigorous research process to draw generalizable implications from it, we may have missed on certain insights that might have been discovered in different use cases. The use case itself is limited to a strongly simplified model of requirements for an event ticketing system and does not capture the role of other stakeholders and related processes in detail. Our architectural choices may narrow down the generalizability further (Koens and Poll, 2018). Second, despite our attempt to address the issues of user experience, legal implications as well as technical and operational risks, we acknowledge its limited role in this study (Governatori et al., 2018). To reveal more insight into user acceptance of a system based on NFTs, we thus suggest complementary studies on other use cases of NFTs, including extensive field experiments with retail users and legal experts as key parts. Therefore, our findings should merely be perceived as a preliminary step towards a better theoretical and practical understanding of NFTs. Despite these limitations, our research is one of the first scientific attempts to address the questions if NFTs are useful in practice and how they can help to improve existing systems in real-world domains. The valuable insights we generate for practitioners are threefold: First, we highlight the differences between NFTs and fungible tokens and provide best practices for the development and evaluation of systems using NFTs. Second, we demonstrate the usefulness of NFTs for the use case of event tickets and provided proof by construction through a successful implementation of a working prototype (Hevner et al., 2004). Third, we elaborate on the consequences of its use and highlight practical challenges. In addition to these practical insights, we add descriptive knowledge to an emerging field of research where scientific studies are scarce. We extend and complement existing studies in the literature on blockchain technology by adding new best practice approaches on how to build and evaluate a blockchain-based system using DSR (Glaser, 2017). Finally, our research serves as a foundation for future theoretical and practical research on NFTs, enable other researchers to draw on its findings and design principles and lay ground to higher-theory development (Gregor, 2006). References 0xcert. (2018). “NFT Spotlight #3 - KnownOrigin, the non-fungible art platform.” Retrieved from https://0xcert.org/news/nft-spotlight-3-knownorigin/ Akoka, J., I. Comyn-Wattiau, N. Prat and V. C. Storey. (2017). “Evaluating knowledge types in design science research: An integrated framework.” Lecture Notes in Computer Science. Atzei, N., M. Bartoletti and T. Cimoli. (2017). “A Survey of Attacks on Ethereum Smart Contracts (SoK).” In: M. Maffei & M. Ryan (Eds.), Principles of Security and Trust (pp. 164–186). Springer. AutonomousNEXT. (2018). “Crypto Utopia.” Retrieved from https://t.co/QsFhfc8MSl aventus. (2018). A Blockchain-Based Event Ticketing Protocol. Retrieved from https://aventus.io/doc/whitepaper.pdf Fortieth International Conference on Information Systems, Munich 2019 14 Non-Fungible Tokens as Event TicketsPDF Image | NFTs in Practice
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