Tokenization & NFT Working Group
The working group aims to build an engaged community of digital practitioners in the field of tokenization in general and in particular the subcategory of Nun-Fungible Tokens (NFT). For both, NFT and tokenization, the group provides a platform that enables all professionals from a wide range of scientific disciplines to grow their networks, knowledge, skills and careers; thus helping to improve the landscape and framework for this booming but still infant sector of the industry. Join our working group to network, exchange ideas, and develop frameworks and best practices.
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PURPOSE AND SCOPE OF THE WORKING GROUP
This working group is a place for organizations and individuals to exchange ideas, discuss case studies, and develop frameworks as well as real-world use cases around the topic of tokenization. While the issuing of traditional financial assets as tokens on a blockchain are a central use case for tokenization, it is by no means limited to securitization but expands into engineering practices of system design. The application area of tokenization combines many scientific research fields from business and finance, law, economics, and computer science, art & culture.
A dedicated focus group puts the spotlight on Non-Fungible Tokens, aiming to build an interdisciplinary forum supporting the adoption of NFT by collaborating globally with entities, agencies, universities and organisations to bring the leading experts of the NFT space together. These connections will allow us to create online & offline events with high-quality networking and educational content, promote and conduct lobbying efforts directed towards political and regulatory decision makers and improve the state of the industry as a whole through self-regulation, standards-setting and the development of best practices within the industry.
OBJECTIVES, STRATEGIES, POLICIES AND PLANS
- Information exchange between industry stakeholders
- Match-making between tokenization enablers/token engineers, startups, and established companies
- Creation of frameworks, best practices and development of real-world projects
- Development of workshops and education material
- Lobby on behalf of the tokenization and NFT community for an adequate regulatory and legal framework for the ecosystem.
- Provide educational materials regarding tokens and NFTs to the blockchain and metaverse community, academics, investors, professionals and political decision makers.
- Provide educational materials regarding NFTs to the general public via the EBA website and via meetings, events, and other digital media.
- Standards-setting and the development of industry best practices.
- Provide support, know-how and consulting to NTF projects though the EBA group.
Business and Finance
Cryptographic tokens already find wide application in the field of business – as a novel revenue model, an initial funding source, or as a rewards and marketing tool. Further areas of research include the release schedule and vesting of tokens, value flow analysis, and tokenized ecosystem design as well as tokenomis, the study of how cryptocurrencies work within the broader ecosystem.
While technology is changing rapidly, regulation is moving slow. Blockchain tokens as a container for rights become a relevant topic in many fields of law, for legal frameworks and taxation. Depending on the respective jurisdiction, tokens are classified individually. An important topic is the distinction between Utility Tokens and Security Tokens. Also of interest is the evaluation of tokens as a governance tool for emerging organization forms, called Decentralized Autonomous Organizations (DAOs).
Art & Culture
NFTs are radically changing the market for unique digital intellectual property. Whether it is visual art, text, or gaming, with NFTs artists and IP holders now have the possibility to claim and proof ownership of their digital asset. Beyond that, NFTs also provide a reliable and durable way of storing proof of ownership for real-world assets too. So, we expect to see many more use cases for NFTs evolving in the future.
Tokenization is more than just issuing financial instruments on a blockchain. Tokens can be used as an effective instrument to incentivize human behaviour. Therefore, various subfields of economics and psychology are relevant to the area of tokenization as well.
These include Game Theory, Mechanism Design, Behavioural Economics, and Monetary Theory.
For Bitcoin (BTC) or Ethereum (ETH) cryptographic tokens/coins are the fuel for the decentralized computer networks. When evaluating the underlying DLT infrastructure for any tokenization project, different requirements need to be considered depending on the tokenization use cases. Advanced modelling and simulation systems, such as cadCAD, allow to design and test token economies before they are deployed.