ECOM6013
E-Commerce Technologies (2024-25)
Michael Jackson; May 16, 1983 @ Motown 25 Anniversary
Topic 9 How About
Turning
NFT, IoT, VR/AR and Celebrity Left-
Metaverse
overs Objects
into Money?
Paul Cheung
[email protected] 1 2
Non-Fungible Tokens (NFT)
Another ”New” Game
• Non-Fungible Token (NFT) -
An NFT is a digital asset
that represents real-world
objects like art, music, in-
game items and videos.
They are bought and sold
online, frequently with
cryptocurrency, and they
are generally encoded with
the same underlying
software as many cryptos.
(Forbes, May 2021)
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Digital artist Beeple sells NFT art for $69 million
(CNBC, 11 March 2021) (1:30)
5 Source: 14 Nov 2024 at 10:25 HKT from beeple-crap.com 6
Short Video on Beeple’s ”Crossroads” (3:10) “Replicator” by Mad Dog Jones (2021)
Sold for US$6.6M Feb 2021
Replicator, is unique
in that it will
generate new NFTs
every 28 days.
The buyer could
ultimately own
between 180 and
220 unique NFTs,
each of which has its
own resale value.
“Here Are the 14 Most Expensive NFTs Sold to Date, From Beeple to Mad Dog
Source: https://www.youtube.com/watch?v=qj0_2TgJLtY 7
Jones and Beyond”, Artnet.com.
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Twitter Dorsey and NFT – how to lose $2.9m Ambient Awareness (IoT) in Nature! (1:48)
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IoT “worlds” IOT strategic areas
• Tagging world – is about identifying things. • Transport – e.g., smart cars, smart traffic
• Identifiers such as RFIDs are attached to things (e.g., • In San Francisco, 20-30% of all traffic congestion is due to drivers
packages) to enable their automatic identification and tracking. looking for parking
Based on ID, the information about things can be accessed
from a database or from the Web. • Energy
• Healthcare
• Sensor world – is about sensing things. • Population 65+ (2018): World – 9%; China – 11%; India – 6%; EU –
• “second hand” access to the properties of things, that can be
20% ; HK – 17%; UK – 18%; US – 16%; Japan – 28% (source: World
Bank)
perceived from the outside using a variety of available sensors.
• Agriculture
• Embedded systems world – is about reading things. • Buildings
• “first-hand” access to data possessed by things e.g., industrial • Smart City
machines or home electronics, already embedded with some
processing and data storage capabilities.
Ref: “What is IoT and How it Works” (mobileappdaily.com)
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How may IoT change our lives in the future
4-Stages of IoT Architecture Source: TechBeacon 2018 (Source: FW Thinking) (3:37)
Source: https://www.mobileappdaily.com/what-is-iot-and-how-iot-works 13
https://www.youtube.com/watch?v=AhrB5ZZXnjM 14
Super Fog in New Orleans 23 Oct 2023
(7 dead, 25 Injured) – Will not happen within 10 years
VR/AR/MR – beyond reality
• Virtual reality (VR) immerses you in a virtual world through the use
of a headset with some type of screen displaying a virtual
environment. These headsets also use a technology called head
tracking, which allows you to look around the environment by
physically moving your head. The display will follow whichever
direction you move, giving you a 360-degree view of the virtual
environment.
• Augmented reality (AR) allows you to see the world around you with
digital images layered on top of it, usually through an AR headsets
(e.g Microsoft HoloLens) It can also be used on devices like
smartphones (and laptops) without the use of a headset. A good
example of AR was the Pokémon GO, but the best recent example of
AR is the Asian Games in Hangzhou in Oct 2023. Google Translate
uses AR to overlap translated text on the real environment.
• Mixed Reality (MR) is AR but allow you to interact with the
augmented object.
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Difference between VR/AR/MR What is Metaverse?
(Source: Velicus, 1:54)
• In science fiction, the metaverse is a hypothetical iteration of
the Internet as a single, universal, and immersive virtual
world that is facilitated by the use of virtual reality (VR) and
augmented reality (AR) headsets.
• In colloquial usage, a metaverse is a network of 3D virtual
worlds focused on social and economic connection.
• In scientific research, it is defined as 'a three-dimensional
online environment in which users represented by avatars
interact with each other in virtual spaces decoupled from
the real physical world’.
• But is it another hype or a reality?!!
(Source: Wikipedia)
Interested students may read a recent research paper on metaverse: “Defining the Metaverse: A
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Systematic Literature Review”, Ritterbusch & Teichmann, IEEE Access, Vol 11, 2023
What is Metaverse? Metaverse – Hype or Reality
(Source: Simplilearn 4:48)
• Gartner considers Metaverse will take more than 10 years to reach the final
stage of “productivity” – meaning future uncertain
• Investment community now beginning to push the ”concept” of Metaverse,
much like the early days of “dot-com” when MSc(ECIC) first started
(remember Tom.com?!)
• Metaverse will likely evolve and try to find it’s place and applications – likely
to depend on availability and acceptance of additional enhancement
devices like “smart glasses” (note: goggles and headgears are non-starter,
and Apple Glasses is coming to join Google Glasses) – but think about 3D
movies and Pokémon GO!
• Metaverse is likely to be an evolution from Virtual Reality (VR) and
Augmented Reality (AR), and will be for specific applications (e.g. in Real
Estates, Sales that needs fitting, furniture, education etc) but not like the
Internet
• Read the two short articles by Deloitte and Morgan Stanley on Moodle on
the subject (and many more online everywhere!)
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