Nonfungible Tokens (NFTs): Transformative Potential and Risk Management

(50:14 + Q&A) Dr. Andrew Park, University of Victoria, Victoria, BC -- Emergence, tokens, blockchain technology, applications, workflows, challenges, strategies ...
Summary: Nonfungible tokens (NFTs) have recently drawn considerable attention. The foundations of NFT technology date back to advances in computer science in the late 1970s. In this talk, we examine the emergence of NFTs, from their technical origins, the introduction of blockchain technologies and the first token-based collectibles that led to modern day NFT products. We categorize the current use cases for NFTs, introduce their potential future applications, and highlight the challenges managers face in incorporating them into their existing workflows. By presenting our NFT adoption framework, we offer managers strategies for evaluating the risks and benefits of NFTs.
Bio: Dr. Andrew Park is Assistant Professor of Management Information Systems, University of Victoria, Victoria, BC, Canada. His research interests include information systems, and innovation and technology management. He has founded and sold a successful health technology venture based in Seattle, Washington. In academia, he is currently investigating how Open Innovation mechanisms impact value creation of firms within the emerging Personalized Medicine innovation ecosystem. His work has been published in interdisciplinary publications, including IEEE MICRO, spanning the diverse fields of medicine, biotechnology and digital innovation. Andrew is part of a national network of innovation scholars evaluating ecosystem models that accelerate the trajectory of Science & Technology innovations to foster strong economic development in North America.

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