NFTs in Marketing

Abstract

Tokenized assets that cannot be exchanged with one another are referred to as non-fungible tokens (NFTs). Tokens are differentiated from one another using a one-of-a-kind identifying number and the metadata that comes along with them. NFTs can be purchased, sold, and traded for fiat currency, digital currency, and other NFTs, all of which depend on their current value on the market and the expectations of their owners. The crucial distinction between cryptocurrencies and other tokens, however, is that fungible cryptocurrencies on the identical blockchain can be freely exchanged for one another. Even though two NFTs on the same blockchain may have an identical outward appearance, they cannot be traded for one another. This study aims to investigate the numerous dangers, opportunities, and moral dilemmas posed by NFTs in marketing. Therefore, at the end of this chapter, the reader will acquire a comprehensive knowledge of NFTs in marketing. In addition, you will have a solid understanding of the risks, rewards, and ethical considerations involved in NFTs in marketing.