Educational Applications of Non-Fungible Token (NFT)

Chih-Hung Wu () and Chien-Yu Liu
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Chih-Hung Wu: Department of Digital Content and Technology, National Taichung University of Education, Taichung 403, Taiwan
Chien-Yu Liu: Department of Digital Content and Technology, National Taichung University of Education, Taichung 403, Taiwan

Sustainability, 2022, vol. 15, issue 1, 1-22

Abstract: With the emergence of non-fungible tokens (NFTs) in blockchain technology, educational institutions have been able to use NFTs to reward students. This is done by automatically processing transaction information and the buying and selling process using smart contract technology. The technology enables the establishment of recognition levels and incentivizes students to receive NFT recognition rewards. According to the Taxonomy Learning Pyramid, learning through hands-on experiences plays a crucial role in attracting students’ interest. In this study, we analyzed the potential for using NFTs in education and the current applications of NFTs in society. We conducted a case study and performed a preliminary investigation of the types of NFT applications in the education industry. We then analyzed different education industries using individual analysis combined with SWOT analysis to understand the impact, value, and challenges of NFT applications. The results revealed 10 educational applications of NFT: textbooks; micro-certificates; transcripts and records; scholarships and rights; master classes and content creation; learning experiences; registration and data collection; patents, innovation, and research; art; payment; and deposit. Finally, ways to reduce the negative impact of education NFTs on the sustainable environment are discussed.

Keywords: non-fungible token; NFT; educational applications; sustainable; education technology; blockchain; metaverse (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
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