Analysis of Factors that Influence Non-Fungible Token (NFT) Digital Content Purchase Intention

Abstract

Blockchain is considered an innovative technology across all industry sectors where digitalization is prevalent. One of the frontiers in blockchain’s use case in digital content is the Non-Fungible Tokens (NFT), a digital asset representing non-fungible assets. Since the technology is new and lacks standardization and regulation, society doubts using NFT as the new asset class. This study aims to determine people’s intention to purchase NFT. This research employs quantitative research to establish the relationship between two variables. Data was collected using a questionnaire utilizing google form to share the questionnaire while the method used is Purposive Sampling. The respondents are from the Jabodetabek Area (cities surrounding the capital of Indonesia) who have already purchased NFT, are interested in NFT, or are considering investing in NFT soon. The data was collected from 155 respondents on May 9, 2023, but only 145 fulfilled the requirements for this research. There are ten variables (Usefulness, Ease of Use, benefit, Satisfaction, Risk, Reputation, Familiarity, Trust, and NFT Purchase Intention) with eight hypotheses and one hypothesis that did not affect NFT Purchase Intention. This research found that the risk of using NFTs did not affect to why NFTs market are in decline despite the risk of using NFTs in general.