Non-Fungible Token (NFT) Security: NIST IR 8472 is Now Available

NIST has published the final version of Internal Report (IR) 8472, Non-Fungible Token Security.

Non-fungible token (NFT) technology provides a mechanism to sell and exchange both virtual and physical assets 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:

• Defines NFTs
• Identifies 11 properties that should be provided by most correctly functioning and secured NFT implementations
• Evaluates each property to reveal 27 potential security concerns