Blockchain technologies, NFT markets and cryptocurrencies as digital economy components

Abstract

The article is devoted to analysing the impact of blockchain technologies, cryptocurrencies and non-fungible tokens (NFTs) on the economy of Ukraine, as well as the study of the potential of their use for the development of the financial sector and digital markets. The role of cryptocurrencies in the transformation of the financial system is emphasized, particularly Bitcoin, in solving complex problems such as decentralization and achieving consensus in decentralized networks. Scientific sources related to blockchain technologies, cryptocurrencies, and smart contracts as a basis for developing new forms of digital assets, such as non-fungible tokens (NFTs), are analyzed. It is noted that in the digital economy, blockchain can play the role of a controller, as well as an optimizer of certain processes while providing guarantees of transaction security. According to scientific publications, NFTs have significantly influenced the global digital economy, especially the art and entertainment markets. Based on the analysis of sources, it is also suggested that NFTs can change the traditional investment model, that is, they can become the basis for a new digital asset market. It is highlighted that the latest technologies create significant opportunities for investors, artists and entrepreneurs, especially in the areas of copyright protection and virtual goods in video games. Particular attention is paid to the regulation of blockchain assets and their legitimacy in the global economy. The importance of creating a clear regulatory framework to protect investors and stimulate innovation in connection with the rapid growth of the cryptocurrency and NFT markets is noted. The development of the cryptocurrency and NFT market in Ukraine is studied, indicating the fact of creating new opportunities for the Ukrainian economy. The development of the digital economy, decentralized platforms can contribute to increasing the level of transparency in the financial market. The creation of new financial instruments using blockchain technologies, constantly expanding the range of their application are important components of the modern digital economy and has the ability to increase economic efficiency, as well as open up opportunities for the development of digital entrepreneurship.