What inspires consumers to buy non-fungible tokens (NFTs) in the metaverse?

Abstract

Purpose To investigate the effect of gamification, technical, and social factors on consumers' motivation to purchase non-fungible tokens (NFTs) in the metaverse. Design/methodology/approach A total of 547 metaverse users across the four largest metaverse platforms OpenSea, X2Y2, Blur and LooksRare–served as the sample for this study. Findings Control, playfulness, synchronicity, connectedness, responsiveness, interactivity, natural speech, design aesthetics and immersive features are among the factors that considerably influence consumers' motivation to purchase NFTs purchase in the metaverse. Moreover, a configuration of these factors is proposed, which can serve as the optimal approach to identify the most influential factors, thus having crucial managerial implications. Theoretical and practical implications The study offers important theoretical insights into consumer behavior in relation to purchasing NFTs and provides practical guidance for managers and marketers by highlighting the important factors that motivate consumers to purchase NFTs. Originality/value This study extends consumer behavior literature by offering a new perspective on the relationship between sociotechnical factors and consumer inspiration in driving NFT purchase in the metaverse. The evolving dynamics of digital asset consumption in virtual marketplaces are further unveiled through empirical evidence and by addressing theoretical gaps.