This study provides a comprehensive contribution to the current understanding of blockchain technology and non-fungible token (NFTs). Blockchain technology is a revolutionary data storage and management tool that records data shared across a network of computers globally, making it safe, transparent, and decentralized. Non-fungible token is a specific type of token built on a blockchain, enabling the authentication of digital assets and safeguarding them against copying or fabrication. The research employed information on 3760 abstract data collected for the period from January 1, 2017, to June 03, 2025. The search criteria for data retrieval are based on the following keywords: “blockchain”, “non-fungible token”, and “token”. The data sources are Scopus and Web of Science. The study highlights the multi-dimensional and evolving discussion around blockchain and NFTs, including elements of technology, security, money, digital rights, and decentralization. The Wordcloud indicates a strong and growing innovation ecosystem, proposing new study avenues in trust mechanisms, smart contract development, and tokenized economies. The correlation graph visualizes that AI, data, finance, and blockchain show their mutual dependence has revolutionized our view of autonomy and governance. The study highlights authors who actively research blockchain and NFTs, as well as correlations between them. China leads the way in this research area and USA leads in terms of citation. The study’s finding informs evidence-based decision-making regarding the regulation and governance of blockchain and NFT technologies. For industry practitioners, the study’s insights can guide the development of innovative applications and solutions leveraging blockchain and NFTs. By examining a vast dataset of academic papers, the inquiry illuminates the key themes, emerging trends, and potential research gaps within this rapidly evolving field.
Blockchain technology is in its early phases of development and represents one of the most acclaimed and transformative innovations in human history for data storage and management (Nakamoto, 2008; Sharma et al., 2021). It refers to a series of data blocks shared across a global network of computers, acting like a secure, transparent, and non-controlled database that can be used in many areas, such as economics and finance. On the other hand, blockchain is the optimal platform for managing both fungible and non-fungible assets. It has found extensive applications in a broad range of contemporary industries, and each of these implementations has specific advantages. Blockchain is used to improve the security and integrity of data in the Internet of Things (IoT) (Spathoulas et al., 2021). It ensures transparent and effective processing of transactions in finance (Javaid et al., 2022) and ensures traceability and authenticity of products in supply chain management (Katsikouli et al., 2021). It is applied in the healthcare sector for securing patient records and enhancing interoperability across medical systems (Hussien et al., 2021). Blockchain is also utilized in reputation systems for generating reliable and tamper-proof evidence of users’ reviews and ratings. Incorporating business transactions, information security, privacy, and safety assurances within an online platform has become mandatory for increasing productivity (Hamidi et al., 2022; Purwaningsih et al., 2024). Use of information and communication technology has immensely impacted economic growth (De Villiers et al., 2021). Significantly, in 2016, financial services and technology firms invested more than $1 billion in implementing blockchain (Gad et al., 2022). In addition, we foresee a massive increase in investment in the following years, showing the increasing significance and usage of blockchain technology in almost every industry. This trend identifies the key function that new technologies have in spearheading economic growth and protecting online operations. Non-Fungible Tokens (NFTs) serve as unique, identifiable tokens, symbolizing the ownership of a distinct digital asset. The blockchain authenticates and traces ownership, while smart contracts facilitate the transfer (Raman & Raj, 2021; Regner et al., 2019). Minting NFTs on a blockchain enables the registration of digital assets with individual identifiers and ownership histories, making them authentic and eliminating duplication or forgery (Fairfield, 2022). One of the defining features of NFTs is their “non-homogeneity,” which makes every token unique and offers the buyers unique digital information. This distinctiveness guarantees the authenticity of every product bought. As a result, selling art has now become one of the most notable uses of NFTs. Different trading platforms like OpenSea, Rarible, Foundation, SuperRare, OurSong, Nifty Gateway, Zora, and Bakery Swap have come into existence to enable this market. These platforms provide artists and sellers with a safe avenue where they can safeguard their work, guaranteeing the integrity and uniqueness of their digital art (Yilmaz et al., 2022). Additionally, these platforms empower creators to showcase their best work, reaching a broader audience while maintaining control over their intellectual property. The main objective of this investigation is to conduct an analysis of the predominant recent trends and patterns pertaining to blockchain and NFTs. This study examines three crucial research questions. (1) What are the areas of blockchain and NFTs research that require further investigation? (2) What are the evolving themes and areas of focus within blockchain and NFT research? (3) What are the most influential and cited journals, authors, organizations, and countries?
This study systematically identifies and categorizes relevant literature on blockchain and NFTs, revealing the most frequent occurrences of words around the study, the most prominent countries, authors, and publication trends, and the most cited paper, author, and country over time. Additionally, it presents potential avenues for future research in this domain. We will structure the remaining sections of this paper accordingly. Section 2 of the research will deal with the methodology. Section 3 provides an in-depth interpretation of the findings from the bibliometric, systematic, and content analyses. Section 4 concludes the findings and outlines the limitations and suggestions for future research directions.
Literature review
Recent studies have examined the evolving landscape of blockchain and related technologies. Blockchain has seen research beyond Bitcoin, with finance, business, and digital change (Li et al., 2020). Web 3.0, encompassing blockchain, AI, and decentralized technologies, is increasingly finding popularity in e-commerce, healthcare, and education (Kukreja et al., 2023). Worldwide blockchain studies have developed significantly, with research discussing author collaboration, institutional networks, and new research frontiers (Lyu et al., 2020). NFTs, a blockchain technology whose popularity increased in 2021, are now a prime area of research in the field. NFTs allow people to own digital items like music and images, and this growing importance is shown by the increasing number of research groups identified in recent studies. These studies collectively point to the widening scope and interdisciplinary nature of blockchain and NFT research.
An increasing number of studies have discussed the diverse characteristics, advantages, and interrelationships of NFTs. The literature encompasses research avenues. The initial research stream investigated the distinguishing features of blockchain and NFT (Tyagi et al., 2021; de Guzman (2022); Nadini et al., 2021; Ali & Bagui, 2021). The second research stream discusses the various advantages of NFTs, including improved transparency, data integrity, and digital ownership (Lee, 2023; Denis González et al., (2022)). Conversely, another research group has highlighted the benefits of blockchain technology, highlighting its immutability, transparency, and robust security features (Ali et al., 2021; Abu-Elezz et al., 2020). The third stream explores the relationship between NFT valuations and the pricing of other assets such as cryptocurrencies, financial assets, etc. (Dowling, 2022; Kapoor et al., 2022). A separate research team explores the obstacles encountered in the implementation of blockchain technology, addressing technical, economic, regulatory, and social dimensions (Aoun et al., 2021; Attaran, 2022). On the other hand, concerns about system security on the Internet have ignited debates regarding the security and privacy of online transactions. The development of blockchain technology has addressed many of these concerns. In today’s digital landscape, privacy, security, and trust are paramount for electronic technologies. Ensuring robust e-commerce security is crucial, as it affects key components, such as data protection, integrity, and privacy, alongside broader aspects of information security. Blockchain technology plays a vital role in enhancing these areas, providing secure and transparent transaction mechanisms that foster trust and confidence in e-commerce and other online activities (Jain et al., 2021).
This study is based on Scientometric analysis, which can be understood as a smart, data-driven approach to analyzing scientific papers. Instead of just reading and summarizing them, which can be a bit subjective, Scientometric uses statistics to spot patterns. It helps us see big trends in what’s being published, figure out who the really influential authors, institutions, and journals are, and even track how research topics and collaborations change over time (Jain et al., 2022; Di Vaio et al., 2022). Since the world of blockchain and NFTs is evolving so incredibly fast and touches on so many different areas, this kind of data-driven view is perfect for really seeing the key trends and how things are developing — stuff that might otherwise be hidden. While there have been some earlier looks at just blockchain research (Table 1), what’s really missing is a full, in-depth Scientometric dive into both blockchain and NFTs together, showing how they have grown side-by-side and where new research areas are popping up. That’s precisely the gap our study aims to fill, giving us a solid, evidence-backed picture of the academic scene around these game-changing technologies.
