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PUBLICATIONS

Non-Fungible Token Security

Published

Author(s)

Peter Mell, Dylan Yaga

Abstract

Non-fungible token (NFT) technology provides a mechanism to enable real assets (both virtual and physical) to be sold and exchanged on a blockchain. While NFTs are most often used for autographing digital assets (associating one's name with a digital object), they utilize a strong cryptographic foundation that may enable them to regularly support ownership-transferring sales of digital and physical objects. For this, NFT implementations need to address potential security concerns to reduce the risk to purchasers. This publication explains NFT technology and then identifies and discusses a list of 27 potential security issues. All of the identified issues can be addressed through use of a systematic security approach that promotes a secure design and implementation.
Citation
NIST Interagency/Internal Report (NISTIR) - 8472
Report Number
8472
NIST Pub Series
NIST Interagency/Internal Report (NISTIR)
Pub Type
NIST Pubs

Download Paper

https://doi.org/10.6028/NIST.IR.8472
Local Download

Keywords

blockchain, definition, ERC-721, non-fungible token, properties, security, smart contract
Information technology and Cybersecurity

Citation

Mell, P. and Yaga, D. (2024), Non-Fungible Token Security, NIST Interagency/Internal Report (NISTIR), National Institute of Standards and Technology, Gaithersburg, MD, [online], https://doi.org/10.6028/NIST.IR.8472, https://tsapps.nist.gov/publication/get_pdf.cfm?pub_id=957077 (Accessed April 27, 2024)

Created March 1, 2024