Self-Discrepancy as a Motive for Non-Fungible Token (NFT) Acquisition: A Psychological Ownership Perspective

Abstract

Brands are increasingly integrating non-fungible tokens (NFTs) into their marketing tactics, aiming to bolster brand awareness and expand their influence in the metaverse. However, there is limited understanding of the factors that motivate consumers to purchase NFT products and the effective advertising strategies in this context. This paper addresses this gap by examining the influence of self-discrepancy on consumer reactions to NFT advertisements. Results from three experiments demonstrate that individuals with a pronounced self-discrepancy are more inclined to purchase NFTs than non-NFTs. The types of self-discrepancy and NFTs play a role: individuals with a gap between their actual and ideal selves favor virtual-only NFTs, whereas those with a discrepancy between their actual and ought selves favor hybrid NFTs, available in both real and virtual realms. This trend is especially evident for luxury brands. The core mechanism driving these findings is psychological ownership, which shapes consumer purchase intentions toward NFTs.