Harshitha Reddy Chitukula, S. Phanindra Reddy, M.D.N. Akash and Ramesh Karnati In this paper, we explored the potential impact of Web3 technologies on the future of social media. Web3 technologies, such as blockchain and decentralized networks, offer new opportunities for social media users to own and control their data, leading to increased privacy and security.
In recent years, Non-Fungible Tokens (NFTs) have become a topic of discussion in society. NFTs have formed a new culture in the ownership of digital assets. The trading volume has increased, accompanied by the emergence of many creators in the local scene. With the significant opportunities recorded in this industry, many creator communities want to participate in presenting works that can be enjoyed by many people. By studying the variables of Web3 Brand Image and Photo Quality mediated by Collector Utilities Information on the Purchase Intention of prospective collectors in an NFT project, most of these variables have an influence, but one of them does not although it's not significant.
Ikram Nur Muharam, Iis Tussyadiah, Albert Nsom Kimbu
This study employs a sequential exploratory mixed-methods approach to investigate users' perspectives and acceptability of blockchain-based sharing economy systems. The suggested model explains how usersâ perceptions of specific features of such concepts influence acceptance in ways that existing theories like TPB, TAM, or UTAUT cannot. The results revealed that user empowerment was the most significant factor influencing acceptance. Furthermore, multigroup analysis (MGA) demonstrates how different contexts have distinct acceptance predictors. Depending on the context, perceived lower fees, perceived faster settlement, perceived income distribution, perceived fraudproof, and perceived traceability had varying significance. Meanwhile, perceived immutability, perceived process automation, and perceived transparency, even though considered appealing, were not significant in influencing acceptance. The findings imply that stakeholders should balance technicality and behavioural aspects, and be aware of the context.
Jayson Diaz, Mikko Abang, Maria Atam, Mark Ballados
This research delves into investigating the awareness and engagement of vicenarian professionals with cryptocurrency and the digital economy in Koronadal City, Philippines. The study examined the demographic profiles to gain a comprehensive understanding of the participants. Furthermore, it assesses the participants' level of awareness concerning cryptocurrency applications, trading platforms, and associated risks and opportunities. To achieve its objectives, the research adopts a descriptive multivariate correlational approach, leveraging confirmatory predictive analysis to identify significant factors influencing engagement. The study reveals a balanced gender distribution among the participants, showcasing diverse income levels and educational backgrounds. Interestingly, most respondents demonstrate neutral levels of awareness concerning cryptocurrency applications and the associated risks and opportunities. Surprisingly, technological awareness, economic conditions, government regulations, and security concerns do not emerge as significant factors influencing engagement. However, the study uncovers that social media factors play a pivotal role as a significant determinant of engagement among vicenarian professionals. This finding provides valuable insights for policymakers and industry stakeholders aiming to boost cryptocurrency and digital economy participation among young professionals in the region.
Ana ÄuiÄ TankoviÄ, Marina PeriĹĄiÄ Prodan, Dragan BenaziÄ
Abstract Recent research has highlighted the adoption of blockchain technology (BCT) and the increasing recognition of its multiple capabilities for users. The main objective of this paper is to delineate different consumer segments based on their BCT beliefs and attitudes. Using a survey method, 934 questionnaires were collected and subjected to hierarchical and K-Means cluster analysis and contingency analysis. The results reveal four identifiable user segments with respect to BCT adoption: Innovators (enthusiastic about BCT), Cautious (careful about BCT), Sceptics (doubtful about BCT), and Suspicious (very distrustful about BCT). These results provide valuable insights into understanding behavioral intentions and serve as a basis for future research.
Current study is mostly focused on the exploration of the role of blockchain technology in enhancing the value of greetings. To accomplish this goal, renowned blockchain-based greetings NFTs from Opensea and Young Parrot have been taken into account. The welcome non-fungible tokens (NFTs) are built upon the Matic and Core blockchain networks. In order to get insight into the key determinants that significantly impact the demand for blockchain-based NFTs used for greetings, a comprehensive survey was undertaken including all facets of this burgeoning phenomenon. Extensive research has been undertaken to enhance comprehension of the determinants that propel the demand for NFTs based on blockchain technology within the domain of greetings. The factors under consideration include the pricing, overall quantity, use case, and popularity of NFTs. A survey was conducted on Twitter, using a sample size of 525 individuals. Based on the findings of the conducted study, it can be deduced that the primary determinant of the value attributed to greetings is their level of popularity. Furthermore, it has been observed that the Love Emogie have a restricted availability. The limited availability of just 43 Love Emojie has contributed to the heightened demand for NFTs owing to their inherent scarcity. However, it is also noted that pricing and use case have a substantial influence.
While previous studies have investigated the factors influencing Internet adoption, the findings may not be transferable to explain blockchain technology (BCT) adoption, despite its similarities to the Internet. This study addresses this gap by developing an extended technology acceptance model (TAM) to investigate the factors influencing BCT adoption. The model consists of four key factors, including strategic management and social influence at the firm level, and individual innovation and self-efficacy at the individual level. Data were collected from 384 employees at Taiwan Stock Exchange companies, and structural equation modeling was utilized to test the hypotheses. Results reveal that strategic management and social influence at the firm level have a direct impact on BCT adoption, which is indirectly influenced by perceived usefulness. Subsequently, training and support provided by the firm can enhance individual innovation and self-efficacy, which has direct effects on BCT adoption at the individual level and is partially mediated by perceived ease of use.
Dasha Antsipava, Joanna Strycharz, Eva A. van Reijmersdal, Guda van Noort
This study examines factors that encourage and discourage blockchain technology adoption in the online advertising ecosystem from a multi-stakeholder perspective. Nineteen semi-structured interviews were conducted with experts and analysed through the lens of the Interactive Communication Technology Adoption Model (ICTAM) as a guiding framework. The findings reveal that all factors of the ICTAM (system, audience, social, technology, adoption, and use) influence blockchain adoption simultaneously and often in contradictory ways. This study has several contributions. It is among the first to investigate blockchain adoption in online advertising, and from a communication perspective. It extends the application of the ICTAM to a whole ecosystem perspective and identifies which factors are essential for successful blockchain adoption in online advertising. The study concludes that while blockchain technology is a promising solution to challenges afflicting online advertising, more education about blockchainâs potential, favourable regulation, and ready-to-use applications are needed before wide-scale adoption can be realised.
Juan F. Prados-Castillo, Juan Antonio Torrecilla-GarcĂa, Georgette Andraz, JosĂŠ Manuel Guaita MartĂnez
Blockchain technology is emerging as a high-impact solution for the tourism industry, a topic chosen for its growing research relevance and potential to revolutionise the tourism sector in several areas. This study examines how the combination of Blockchain technology and P2P platforms advances sustainability and marketing in the tourism accommodation market. It attempts to fill a gap in the literature by focusing on its application in two areas, namely digital markets and technology, which are expanding. The originality of this research lies in its comprehensive review of blockchain applications in tourism from a practical point of view, which has been largely unexplored in the existing literature. Through a bibliometric review of forty-two papers, various Blockchain applications were identified, such as improving transparency, trust, and efficiency in hotel operations and eliminating intermediaries to reduce costs. The adoption of smart contracts and the use of cryptocurrencies have also emerged as key trends. These findings highlight the transformative potential of Blockchain technology to build trust between hosts and guests, streamline processes, and improve the customer experience. However, they emphasise the need for the careful planning and consideration of the challenges associated with implementing this technology. Future research should further explore the specific applications of Blockchain technology in tourism to optimise its impact on industry and ensure long-term sustainability.
The advent of Web3 has ushered in a new era of decentralized digital economy, promising a shift from centralized authority to distributed, peer-to-peer interactions. However, the underlying infrastructure of this decentralized ecosystem often relies on centralized cloud providers, creating a paradoxical concentration of value and power. This paper investigates the mechanics of value accrual and extraction within the Web3 ecosystem, focusing on the roles and revenues of centralized clouds. Through an analysis of publicly available material, we elucidate the financial implications of cloud services in purportedly decentralized contexts. We further explore the individual's perspective of value creation and accumulation, examining the interplay between user participation and centralized monetization strategies. Key findings indicate that while blockchain technology has the potential to significantly reduce infrastructure costs for financial services, the current Web3 landscape is marked by a substantial reliance on cloud providers for hosting, scalability, and performance.
Purpose To examine the effects of the metaverse on firmsâ marketing activities. Design/methodology/approach A conceptual paper. Findings It provides evidence of the growing importance of different value capture mechanisms in the metaverse. Originality/value Among the first articles on this topic.
This study explores the factors influencing the intention to adopt blockchain technology and the alignment between respondents' work characteristics and blockchain technology. It addresses the lack of attention from previous literature on these factors in the context of blockchain adoption, especially amidst the recent blockchain hype. By integrating Task-Technology Fit (TTF) and a modified version of the Unified Theory of Acceptance and Use of Technology (UTAUT), this study employs a questionnaire survey. The results demonstrate that the alignment between blockchain and work characteristics significantly impacts performance expectations and the recognition of opportunities, thereby influencing the intention to adopt blockchain. Furthermore, factors such as effort expectancy, social influence, facilitating conditions, and perceived policy uncertainty influence adoption intention by identifying opportunities. Exposure to blockchain-related knowledge reinforces the relationships mentioned above. Additionally, digital natives display greater confidence in blockchain's potential to enhance work performance than digital immigrants. These study findings offer valuable insights and strategies for blockchain technology providers and provide a comprehensive survey for individuals and professionals interested in embracing or understanding the dynamics of blockchain adoption.
Abstract Despite the extensive interest in cryptocurrencies over the past years, their application as a means of payment in eâcommerce and retail purchases continues to be much slower than anticipated. This paper investigates the underlying mechanisms and elements that drive consumer resistance in this space. Drawing upon the stimulusâorganismâresponse paradigm and the innovation resistance theory, the paper explores how the characteristics of the current cryptocurrency landscape contribute to different factors associated with cryptoâpayment rejection. Our findings from empirical and experimental studies reveal how ecosystem volatility and the lack of structural assurances for cryptocurrencies foster negative consumer perceptions, leading to resistance against cryptoâpayment use. The paper develops new insights into the main predictors of consumer resistance to cryptoâpayment, which is a precursor to the mainstream use of cryptocurrencies. Moreover, it sheds light on the interactions among contextâspecific, psychological, and functional determinants of behavioral consumer response.
Nwamaka A. Anaza, Bhaskar Upadhyaya, Delancy Bennett, Cecilia Ruvalcaba
Abstract Why do consumers invest in cryptocurrency despite its sharp increases and decreases in value? While it seems rational that such volatility should increase consumers' fear of investment, we posit that the fear of missing out (FOMO) on the possible positive returns negates such. Further, this study explores the impact that consumers personality traits, using the big five model, has on FOMO when predicting consumers purchase intentions of cryptocurrencies. Additionally, while consumer behaviorists theorize that information search is an important aspect of the consumer decision making process, marketers have yet to integrate consumers degree of cryptocurrency knowledge as a conditional factor that influences their cryptocurrency purchase behavior. Grounded in trait and prospect theory, we employ a repeated crossâsectional sampling design to investigate these relationships in a bear and bull market. An analysis of the data from 444 and 250 respondents suggests that FOMO predicts the likelihood of investing in cryptocurrencies for certain personality traits. The findings of this study are novel as we observe that FOMO is a driving force behind cryptocurrency's consumption for agreeable and neurotic consumers. However, FOMO negatively mediates cryptocurrency investment likelihood for consumers with high openness to experience and conscientiousness in a bear market, but not in a bull market.
Open access
2 source records
Digital Marketing and Social Media
Consumer Behavior in Brand Consumption and Identification
In recent years, investing in cryptocurrencies has become a fad worldwide. However, fewer studies have explored the intention of using cryptocurrencies. Different from traditional financial commodities, cryptocurrencies have a unique appeal. Therefore, this study uses technology mindfulness, technology readiness, and financial literacy, and through perceived trust and perceived risk, to understand usersâ intentions to use cryptocurrencies. The respondents to this study were cryptocurrency owners or those having financial investment experience. A total of 337 valid samples were obtained and analyzed by the partial least square-structural equation model (PLS-SEM) method. The results showed that technology mindfulness and negative technology readiness significantly impacted perceived trust and perceived risk. On the other hand, perceived trust and perceived risk significantly impacted the intention to use. Finally, this study proposes theoretical and practical implications which can help cryptocurrency trading platforms understand the motivations of potential and existing users. Finally, this study can also serve as a reference for cryptocurrency trading service providers to develop marketing strategies.
Abstract Disrupting the concept of ownership in the digital space, nonâfungible tokens (NFTs) have created unprecedented market opportunities and captivated millions of investors. Characterized by artificial scarcity and ensured authenticity, the technical implementation establishes novel parameters for digital ownership and collecting, underscoring a research gap where the determinants of consumer behavior are yet to be studied. This paper presents a research model based on the StimulusâOrganismâResponse (SOR) model to investigate consumers' purchase intention of NFTâbased collectibles (NFTC) for the first time. To develop our model, we identified distinctive NFTC features (functionality, scarcity, aesthetics, and price value) and blockchain characteristics (security and privacy) affecting the utilitarian and hedonic attitude towards NFTC and finally shape NFTC purchase intention. For empirical validation, we conducted an online survey among an NFTâinterested target group ( N = 356) and analyzed the results by structural equation modeling with SPSS Amos. Findings indicate that the utilitarian attitude toward NFTC is affected by perceived functionality and price value from the product side, and perceived blockchain security and privacy from the technology side. The hedonistic attitude toward NFTC is shaped by perceived functionality, scarcity, and aesthetics. Both attitudes, utilitarian and hedonistic, demonstrate a significant impact on purchase intention. A subsequent mediation analysis confirms that NFTC and blockchain characteristics have an indirect effect on purchase intention. In the underâinvestigated interface of blockchain technology, digital ownership, and consumer behavior, this work enriches the digital ownership discourse by demonstrating how NFTC create consumer value through product and technology features.
Open access
Digital Marketing and Social Media
Consumer Behavior in Brand Consumption and Identification
Valerio Stallone, Martin Wetzels, Dominik Mahr, Michael Klaas
The increasing popularity of blockchain technology (BCT) has spurred interest in its potential to rejuvenate the digital advertising ecosystem. Due to its transparency, decentralization, and immutability, BCT offers the potential for customer-oriented, secure, and open platforms that might improve interactions between consumers and businesses. This article investigates applications of BCT in digital advertising and develops an integrative framework to classify innovations at this intersection. With a systematic literature review and Delphi study, the authors examine ten relevant use cases and compile qualitative and quantitative data on the expected probability of realization, expected impact on the industry, desirability of occurrence, and market establishment duration. The results reveal organizational activity theoryâinformed areas of innovation and provide useful insights for managers, researchers, and policy makers. Managers should focus on contextual innovations such as rewarding web users for web interactions, rewarding content creators for their contributions, and ensuring user data security as the most relevant potential applications. Boundary innovations require a better understanding before deploying solutions aimed at increasing advertising supply chain transparency, mitigating fraud, and verifying content. For domain-based innovation areas, researchers must rethink their foundations. Finally, the authors propose a detailed research agenda.
Cryptocurrencies have become a popular discussion in the global economy as an increasing number of people adopt these despites their recent conception. As a result, governments worldwide are racing to incorporate assets into their legal frameworks. While Sri Lanka does not have a legal framework for such assets, there is a growing base for cryptocurrency investors in the country. This study analyzes the antecedents that drive Sri Lankan investors towards cryptocurrency investments and the influence of commonly known behavioral biases among these investors to examine the validity of behavioral finance theories in cryptocurrency markets. A structured questionnaire was distributed on social media platforms, which yielded 158 responses. Descriptive analysis was used to evaluate the demographic characteristics of the respondents, and PLS-SEM was used to examine the path model analysis of associations among the study variables. The findings suggest that the majority of respondents are males under 35 years of age with high educational qualifications, and that technical, economic, social, and personal factors are their main adoption motivators. The analysis of behavioral biases suggests that heuristic-driven and frame-dependent biases influence cryptocurrency adoption decisions. As a highly discussed topic in todayâs world, there is a lack of studies focusing on the adoption motivators and behavioral biases of cryptocurrency investors. These findings provide valuable insights and enrich the existing knowledge in the domain of cryptocurrency, as this study is a pioneering endeavor focusing on behavioral biases in cryptocurrency markets.
Cryptocurrency is receiving widespread acceptance in the international market. Unfortunately, little attention is focused on the full identification of the cryptocurrency adoption factors, especially when it comes to emerging nations like Saudi Arabia. The current investigation is aimed at investigating whether the use of dual structural equation modelling and artificial neural network (SEM-ANN) would permit a better comprehension of the determinants of cryptocurrency adoption than the single-step PLS-SEM technique and explore the predictors of cryptocurrency adoption. An extended unified theory of acceptance and use of technology (UTAUT) model was used. A sample of 344 responses from Saudi Arabian students at public universities was used to verify the model. Unlike the majority of existing studies that were based on a single-step PLS-SEM approach, this investigation employed a superior statistical approach, the dual SEM-ANN approach, considered a unique methodological approach that can recognise variablesâ connections that are both linear and nonlinear and predict relationships with higher accuracy. Moreover, the dual SEM-ANN analysis revealed security as the most important factor influencing whether users would accept cryptocurrency, followed by effort expectancy and awareness. The application of the dual SEM-ANN technique and the extension of the UTAUT model with security and awareness constructs have enhanced the existing technology adoption literature. Additionally, methodological, theoretical, and practical contributions were offered by this study.
William Davin D. Perez, Yogi Tri Prasetyo, Maela Madel L. Cahigas, Satria Fadil Persada ¡ 6 authors
The prominent form of Non-Fungible Token (NFT) is found in the gaming industry. NFT games received immense attention during the COVID-19 pandemic because of their play-to-earn model. NFT gamers can enjoy and increase their finances in their spare time. Hence, the researchers utilized Structural Equation Modeling (SEM) to investigate the intention and immersive behaviors of 1082 respondents. The modified framework from the Theory of Planned Behavior (TPB) and Hedonic Motivation System Adoption Model (HMSAM) underwent SEM tests. These theories and methods were used to analyze relationships among hypotheses and assess factors influencing NFT game engagement. The results showed that hedonic motivation produced positive and significant influences on perceived usefulness, curiosity, joy, attitude, subjective norms, and perceived behavioral control. Subjective norms significantly influenced perceived ease of use. In due course, perceived ease of use yielded positive and significant effects on perceived usefulness, joy, attitude, and perceived behavioral control. Moreover, perceived usefulness, curiosity, joy, attitude, and perceived behavioral control had significant positive effects on behavioral intention. In addition, perceived usefulness, curiosity, joy, and attitude significantly and positively affected immersion. Meanwhile, only four hypotheses were not supported by the study. These findings were translated into theoretical and managerial implications to contribute to the academe given the strong the change of behavior of users towards NFT games during the pandemic; gaming industry since they will be able to develop, improve and create a new ecosystem in the gaming space, and NFT stakeholders since they will benefit from the development that will influence this study.
This study is based on the Expectation Confirmation Model and the Information System Success Model to evaluate the influence of perceived usefulness and satisfaction towards online cryptocurrency exchanges. Therefore, this study deconstructs the âconfirmationâ component of the information system continuous use model into three different components: confirmation of information quality, confirmation of system quality, and confirmation of service quality, to investigate the factors that influence the desire to use online cryptocurrency exchanges continuously. This research used a questionnaire methodology, with data collected from 248 users of cryptocurrency platforms. This study found that perceived usefulness and satisfaction significantly correlated with continuance intention. Furthermore, information quality, system quality, and service quality significantly correlated with perceived usefulness and satisfaction. Finally, perceived usefulness was found to be significantly correlated with satisfaction.
Abstract Cryptocurrency has become a hot area of global investment. Despite the increasing regulation of cryptocurrencies, some investors are still obsessed with investing in cryptocurrencies, and the reasons behind this are worth exploring. Emerging studies from a cryptocurrency behavioural perspective demonstrate that investments in cryptocurrency are influenced by a variety of factors, but ignore the objective factor of the political environment. Based on social norms theory, this article explores the impact of group norms and policy norms on Chinese investorsâ autonomous motivation to invest in cryptocurrencies. This article adopts a questionnaire and investigates 727 Chinese investors. Research has found that: (1) Cryptocurrency investment is influenced by group norms and policy norms, and autonomous motivation serves as a mediator in the process. Group norms promote autonomous motivation among investors, thereby increasing cryptocurrency investment. Conversely, policy norms inhibit investorsâ autonomous motivation and reduce cryptocurrency investment. (2) Cryptocurrency knowledge plays a moderating role between social norms and autonomous motivation. The moderating effects of investorsâ subjective and objective knowledge of cryptocurrency in the model have no significant differences, showing a consistent suppressing effect on autonomous motivation. The findings suggest governments should focus on both regulations and public opinion. On the one hand, the government needs to strengthen and improve the laws and regulations related to cryptocurrencies. On the other hand, the government also needs to strengthen social supervision and exercise necessary control in the dissemination of cryptocurrency information.
Abstract This research investigates the extent to which sponsorships can be utilised to foster trust and reduce barriers to adopting new technologies. Using Crypto.com's sponsorship of the 2022 FIFA World Cup as the context, this mixedâmethods study utilises innovation resistance theory (IRT) and trust transfer theory (TTT) to investigate the extent to which such a sponsorship can increase trust and reduce barriers in innovative technologies such as cryptoassets, while also filling a research gap concerning consumer resistance to innovations in digital financial products and services. The findings of study 1, using a survey ( n = 1081), and study 2 using interviews ( n = 24) reveal that a positive image of sponsorship significantly influences favourability and interest, and trust of the product of the sponsor which subsequently reduces psychological barriers to adoption. Integrating the theoretical viewpoints of IRT and TTT, this study enhances our conceptual understanding regarding the psychological dimension of sponsorship and the extent to which a sponsorship generates interest, giving assurance and trust in the sponsor's product, and removing uncertainty; thus, reducing barriers to adoption.
Open access
Digital Marketing and Social Media
Technology Adoption and User Behaviour
Consumer Behavior in Brand Consumption and Identification