The ideal use of NFT in Metaverse - A Systematic literature review

Abstract: It has become possible to say that the metaverse is a great opportunity for investment and trade, as it provides massive financial returns. The metaverse is the next evolution in social connection and the successor to the mobile internet. Non-fungible tokens represent the ownership of unique items in the metaverse and allow the creator to tokenize things like art, real estate, and collectibles. Trading NFT in the metaverse faces challenges, including security, fraud, and scams. Those challenges have negatively affected the stability of this market. “How can NFT trading in metaverse be improved?” is the main question of this thesis to overcome the challenges. The author performed a systematic literature review to survey and explore the possibility of using technologies to reach the ideal use of NFT in the metaverse. The systematic literature review will guide the researcher to gain more information to evaluate it in the research area. Furthermore, Pointing and identifying the gaps and knowledge needed between the research elements. Three main challenges are presented (identity verification, fraud, and ownership) in areas in which technologies that can provide (flexibility, reliability, accuracy, and performance) can apply. Three dominant solutions, smart contracts, oracle nodes, and blockchain are the study and analysis results to realize the research question and identified problem. The elected technologies show an ability to address challenges in different ways and thus maintain the security and effectiveness of trading operations. Also, the result section mentions other solutions not counting on the dominant solutions. Open issues which provide a ground for future research with practical implementations are also discussed.