NFT AND BLOCKCHAIN MARKETING - THE IMPACT OF NEW TECHNOLOGIES ON BUSINESS

Аннотация

In this article, we consider the impact of NFT and blockchain marketing on business in Uzbekistan. We analyze the principles of NFT operation, their application in various industries, as well as the prospects for using blockchain technologies to promote brands and products. At the same time, we considered successful cases, current trends and potential challenges that companies face when implementing these innovations. Particular attention is paid to the legal aspects and development opportunities ofthis market in thecountry. Key words:NFT, blockchain, marketing, business, Uzbekistan, digital assets, tokenization, Web3,decentralization, cryptocurrency, innovations. Introduction. Blockchain and non-fungible token (NFT) technologies have been rapidly developing in recent years, significantly impacting various business sectors around the world. Uzbekistan, seeking to integrate these innovations into its economy, is taking active steps to createan appropriate regulatory framework. In November 2022, the National Agency for Promising Projects approved the procedure for the issue and circulation of crypto assets. According to this document, the right to issue crypto tokens is granted only to legal entities and individual entrepreneurs - residents of Uzbekistan, while individuals can only issue NFTs. Registration of the issue, introduction into circulation, placement and storage of crypto assets are assigned to crypto depositories. To register the issue, the issuing company must provide a declaration (white paper) containing information about the project financed bytheissueof tokens1. In August 2022, the rules for organizing trading on crypto exchanges were approved. According to these rules, residents of Uzbekistan are allowed to exchange NFTs for cryptocurrency on foreign platforms. Crypto exchanges are required to identify trading participants, monitor the legality of transactions, and store transaction data. When registering a user, the exchange must request identification documents, andoneclient canonly have oneaccount ontheexchange.2. In January 2024, administrative and criminal penalties were introduced in Uzbekistan for illegal transactions with crypto assets and mining. Illegal purchase, sale and exchange of crypto assets entail a fine of 20 to 30 basic calculation units (BCU) or administrative arrest for up to 15 days 1 2 https://www.spot.uz/ru/2022/11/30/crypto-asset-regulation/ https://www.spot.uz/ru/2022/08/17/crypto-exchange-rules/ page1483 INTERNATIONAL JOURNAL OF ARTIFICIAL INTELLIGENCE ISSN:2692-5206,ImpactFactor:12,23 AmericanAcademicpublishers,volume05,issue03,2025 Journal: https://www.academicpublishers.org/journals/index.php/ijai with confiscation of crypto assets and the equipment used. Repeated violations after the application ofan administrativepenalty may lead tocriminal liability3. These legislative initiatives are aimed at creating a safe and transparent environment for the use of blockchain technologies and NFTs in Uzbekistan, which opens up new business opportunities andfacilitates thecountry's integration into theglobal digital economy. Analysis of literature on the topic.An analysis of the existing literature on the impact of NFT and blockchain marketing on business in Uzbekistan shows that, despite the global growth of interest in these technologies, the number of studies in the context of Uzbekistan remains limited. However, several key aspects can be highlighted, which are considered inthe availablesources. Saitkamolov M.S. and Karabaev R.Z. in their work analyze the challenges and prospects of introducing blockchain technologies into the digital economy of Uzbekistan. They note that blockchain can transform various sectors of the economy, including finance, healthcare and logistics, increasing the transparency and efficiency of processes. However, the authors emphasize the need to develop a clear regulatory framework and train qualified personnel for the successful integration ofthese technologies.4. Elmurzaeva R.A. examines howblockchain influences the change of business models. Sheoffers an analytical framework for assessing this impact and notes that blockchain promotes decentralization and increased transparency, which in turn leads to the revision of existing and thecreation ofnewbusiness models5. The article “Integrating NFTs into Business Models: A Revolution in Digital Assets” examines ways to use NFTs to create unique products and services, improve marketing campaigns, and manage intellectual property. It notes that NFTs open up new opportunities for customer engagement and monetization ofdigital assets.6. The article “Blockchain and Marketing: 2025 Trends for Guaranteed Growth” discusses innovative ways to combine blockchain and marketing. It notes that Web3 technologies, NFTs, and decentralized platforms open up new opportunities for brands to interact with audiences whileensuring transparency and security oftransactions.7. According to the BestChange project blog, in 20