Blockchain Papers

Martin P. Fritze, Cait Lamberton, Stefano Puntoni

From Balenciaga to Bored Apes, non-fungible tokens (NFTs) have captured popular, managerial, and scholarly attention. However, despite some prominent exceptions, the question of whether and how NFTs can represent a real source of value for retailers remains open. This paper provides a framework to consider ways in which NFTs can be a source of value in retailing. We identify three technical features of NFTs (decentralization, immutable encryption, automated execution), which in turn offer potential utility to retailers in the form of three value propositions (transcendence, dynamic contingencies, flexible identification), which a survey study suggests are valued by managers but not yet connected to NFTs. To help make this connection, we use illustrative examples to demonstrate the ways in which NFTs can deliver these three value propositions in a single marketing tool. Taken together, we hope this framework's proposed relationships will spark future work in this area, leading to the development—and evolution—of theories of NFTs and their use in retailing as this technology continues to progress.

Hanna Lee, Yingjiao Xu, Wenna Han, Xiaohan Lin

Acknowledging the potential of NFTs (non-fungible tokens) to enhance consumer-brand relationships, major luxury fashion brands continue to enter the virtual NFT market, releasing exclusive collectibles. However, this emerging market poses unique challenges for luxury fashion brands in crafting virtual NFTs that successfully convey consistent and integrated brand meanings of luxury. Given the visually oriented nature of NFTs, this study aims to empirically examine how visual design features of virtual luxury NFTs, including brand visibility and visual quality, interact with perceived prototypicality of products (fashion NFTs vs. art NFTs) in generating consumers’ perceived essence of the brand, resulting in consumers’ purchase intention. This study enriches the understanding of how visual design features impact consumer perceptions and purchase intentions toward virtual luxury NFTs, identifying brand visibility, visual quality, and prototypicality as the critical factors.

Ashley Chenn

Regulation, highly publicized data leaks, and growing consumer concerns about data privacy and ownership challenge fashion brand marketers’ ability to accurately measure and act on consumer touchpoints with fashion brands. This study conceptually proposes using blockchain technology as a promising solution to analyzing verified customer behavior. Blockchain data holds untapped potential for applications in marketing analytics as a valuable means for gaining insight into consumer behavior across a customer’s path to purchase. As consumers increasingly enter Web3 environments, understanding how to use blockchain data effectively in analyzing consumer behavior will prove essential for fashion brand marketers to create value for their customers and the brands they represent. This conceptual study explores how blockchain data can enhance the value fashion brand marketers add throughout the pre-purchase, purchase, and post-purchase phases by enabling a higher level of customer interaction, loyalty tracking, and better prediction of customer demand, all while respecting consumer privacy.

Rayenda Khresna Brahmana, Maria Kontesa

Purpose This research aims to examine how financial literacy moderates the mediation of attitude toward virtual influencers’ non-fungible tokens (NFTs) or ATB on the relationship between purchase intention and self-congruity, which includes symbolic representation, self-image congruence and emotional value. Initially, we investigated the mediation effect of ATB on the relationship between self-congruity and purchase intention. Subsequently, we analyze how financial literacy moderates this mediation process. Design/methodology/approach The study employed a sample of 383 virtual influencers’ fans and applied a partial least square structural equation model (PLS-SEM) along with robustness tests to test the research hypothesis. The analysis is based on the moderated mediation framework. Findings The findings are intriguing for several reasons. First, it reveals that only self-image congruence positively affects purchase intention, contrary to existing self-congruity theory literature. The relationship between self-image congruence and purchase intention is a direct relationship with no mediation effect of ATB. Second, ATB fails to mediate the self-congruity effect on purchase intention. Third, financial literacy has a negative relationship with purchase intention, indicating that fans of virtual influencers with higher financial literacy are less likely to purchase virtual influencers’ NFTs due to more critical investment evaluations. We also argue that financial literacy discards the consumption behavior effect from self-congruity variables on purchase intention. Research limitations/implications The study contributes to the literature by emphasizing the significance of financial literacy on purchase intention under the self-congruity framework. It also surmises that self-image congruence does matter for the purchase intention of a virtual influencer’s NFT. However, further research could validate findings by studying broader NFT investors, incorporating fandom and impulse buying variables and examining actual NFT purchases against planned behavior. Practical implications This research is crucial for virtual influencers’ NFT creators, marketers and fans by providing insights for evaluating virtual influencers’ creators’ decision to pursue NFT markets. The findings reveal that the creators of virtual influencers should reconsider pursuing the NFT market, as self-congruity may not be a driving factor. Notably, our findings imply that a virtual influencer’s NFT is significantly different from a virtual influencer's merchandising business. Originality/value The originality of this study lies in extending the self-congruity within the NFT context, investigating how financial literacy moderates the mediation of ATB on the self-congruity-purchase intention relationship. It challenges self-congruity theory by showing that despite fans feeling aligned with virtual influencers, high financial literacy reduces the congruence.

Kobe De Keere, Martin Broholt Trans, Stefanía Milan

Abstract In less than two decades, cryptocurrency has transformed from being an object of interest for an obscure online community to becoming a digital asset of global appeal. By acknowledging the importance of fictional expectations in the creation of economic value, this study addresses the question: How is the value of crypto imagined? Through quantitative and qualitative coding of 1921 YouTube video transcripts, combined with Exploratory Factor Analysis, this article maps out the sociotechnical imaginaries that attribute value to crypto, that are being disseminated on YouTube. This study identifies four distinct imaginaries that project a value on cryptocurrency: investment, utility, digital metallism, and infrastructural mutualism imaginary. This explorative analysis sheds light on the potential value consumers attribute to cryptocurrencies while opening new research avenues toward a better understanding of the market and its mediation by platform algorithms as potential market devices.

Maruding Mareh, Laphassawat Subphonkulanan, Wanamina Bostan Ali, Md. Mahmudul Alam · 5 authors

This study investigates the influence of cryptocurrency advantages on MICE (Meetings, Incentives, Conferences, and Exhibitions) tourists' future decisions in Thailand, a prime business travel destination. The research explores how cryptocurrency adoption affects tourists' propensity to use cryptocurrencies in the MICE industry. A sample of 394 MICE tourists’ data was analyzed using Structural Equation Modeling (SEM) via the Mplus program. The results indicate that transaction process (TP), price value (PV), and attitude (AT) significantly impact BTPB, which, in turn, influences future cryptocurrency adoption (FA) while transparency (TR) does not show any significant correlation with business travelers' perceived benefits (BTPB). This study guides travel and tourism stakeholders to enhance cryptocurrency adoption by improving transaction efficiency, security, regulatory clarity, and education, leveraging insights from the Technology Acceptance Model (TAM) and Unified Theory of Acceptance and Use of Technology (UTAUT) frameworks. This study bridges fintech and sustainable tourism in the MICE industry, offering insights for policymakers and industry leaders to enhance financial systems through cryptocurrency, promoting global sustainable travel practices.

Chiara Vandoni, Guido Perboli

No abstract is available for this record.

Mohd Amirul Helmi, Ismail

Perkembangan NFT telah mengubah landskap seni visual kontemporari dengan menyediakan peluang pemilikan digital serta akses ke pasaran global, namun kajian tentang persepsi nilai pengguna masih terhad dalam memahami motivasi pembeli dari aspek teknikal dan ekonomi. Justeru, kajian ini membangunkan Model Faktor Pemilihan NFT (MP-NFT) bagi menjelaskan bagaimana pembeli menilai dan membuat Keputusan terhadap pemilihan NFT dalam seni visual kontemporari, menggunakan pendekatan kualitatif melalui temu bual separa berstruktur dengan tujuh artis seni visual kontemporari di Malaysia. Analisis tematik berpandukan teori persepsi nilai pengguna oleh Troilo, Holbrook, Sheth, dan Zeithaml mendedahkan lapan dimensi utama ekonomi, sosial, psikologi, teknologi, cabaran, pengalaman, nilai dan kesan, serta masa depan NFT—yang melahirkan 22 faktor penting membentuk Model MP-NFT. Kajian ini bukan Sahaja memperkaya perbahasan teori mengenai persepsi nilai pengguna NFT, malah berfungsi sebagai panduan praktikal kepada pembeli, artis, pemasar, dan pembuat dasar dalam memperkasakan ekonomi seni digital serta menegaskan peranan NFT sebagai pemangkin perkembangan seni visual kontemporari di Malaysia

Alexandre Vannucci, Claire Roederer

No abstract is available for this record.

Lucia, Gatti, Valerio, Serafini, Erica, Santini

This paper investigates how Web3 technologies, particularly NFTs, can create value even in traditional manufacturing companies that are generally recognized as distant from more advanced technological innovation. Using Bulgari’s launch of its first high-jewelry NFT capsule collection as a case study, the research aims to understand how Web3 strategies can be effectively adopted by manufacturing, in particular luxury brands, with an exclusivity positioning, and what forms of value they can generate and capture. Through a case study based on secondary (company’s websites, social media, magazines and fashion journals) and primary data (semi-structured interviews and focus groups), the research shows that Web3 strategies can successfully reinforce brand storytelling, create new customer engagement avenues, and preserve brand prestige while innovating. Bulgari’s approach suggests that NFTs can serve not only as digital extensions of physical luxury products but also as tools for enhancing brand equity, reaching new audiences, and unlocking emotional and experiential value. The case illustrates that digital transformation in heritage brands does not have to come at the expense of tradition. Rather, when executed thoughtfully, technologies like NFTs can become powerful instruments for reinforcing brand identity, enhancing storytelling, and engaging new audiences. The study also highlights the importance of learning outcomes in entering new value creation processes during periods of discontinuity, before enabling technologies are mature enough to ensure a high level of customers’ experience

Jaroslava Gburová, Daniela Matušíková, Andrea Vadkertiová

This study explores how demographic factors shape perceptions of celebrity and influencer marketing in the context of promoting cryptocurrencies, particularly in the tourism sector. It evaluates whether such marketing strategies effectively promote cryptocurrencies and how their impact varies across demographic groups. By analyzing responses from a sample of 161 predominantly young and educated respondents, the study uses statistical methods to identify differences in perceived marketing effectiveness based on age, gender, and other demographics. Findings reveal no significant demographic differences in effectiveness; instead, the study underscores the importance of universal marketing qualities, such as authenticity, credibility, and relevance. These results suggest the need for inclusive marketing strategies that foster trust and transparency. Additionally, the study highlights avenues for future research, including cultural and ethical considerations, to refine marketing approaches and develop innovative campaigns that drive cryptocurrency adoption and trust in the tourism industry.

Murat Tunç, Hasan Cavusoglu, Zhiqiang Zheng

Resale royalties, first introduced in the 1920s to support artists through a share of future resales, have now adopted by nonfungible token (NFT) marketplaces for digital art trading. Although these royalties are often viewed as beneficial for creators, our research reveals unexpected consequences. Using data from a major NFT marketplace, we find that NFTs with higher royalty rates sell for significantly lower prices and take longer to sell. Surprisingly, creators do not recoup these initial losses through royalty payments within four years. We discover that higher up-front minting costs lead creators to set higher royalty rates. We reveal a delayed gratification effect where creators with higher royalties accept lower up-front prices in hopes of future royalty income. We also find an overconfidence effect where confident creators, measured by their past sales and follower count, are more likely to lower initial prices. Our research contributes to the ongoing debate about royalty enforcement in NFT marketplaces and offers empirical evidence to inform platforms and creators. Platform managers should carefully consider both reducing up-front minting costs and implementing royalty rate limits to improve market liquidity. Creators should be cautious about setting high royalty rates as they may not provide the expected financial benefits.

Liufang Zhang, Grace Phang Ing

Purpose This study aims to examine the impact of non-fungible tokens (NFTs’) characteristics on Chinese consumers’ purchase intention towards luxury fashion physical products. It also investigates the mediating role of perceived hedonic value and moderating role of perceived NFT–physical product fit during the buying process. Design/methodology/approach A conceptual model combining Stimuli–Organism–Response Model and Theory of Consumption Value was established. A purposive sampling method was adopted to collect data from luxury fashion consumers aged 21–41 who lived in four Tier 1 cities in China. Structural equation modelling and SmartPLS 4.0 were utilized to analyse the 304 valid questionnaires collected. Findings The study’s findings indicate that luxury fashion NFTs with four characteristics (NFT scarcity, NFT exclusivity, NFT design aesthetic and NFT novelty) affect Chinese consumers’ purchase intention towards luxury fashion physical products positively, with perceived hedonic value mediating these relationships. Further, perceived NFT–physical product fit moderates the relationship between perceived hedonic value and purchase intention. Originality/value This study bridges a gap in investigating the interplay between NFTs as intangible collectibles and tangible products, by stressing the significant role played by NFTs in influencing the purchase intention of luxury fashion products. This paper contributes to an understanding of consumers’ psychological responses and behaviours towards NFTs, providing a new perspective in the study of luxury fashion NFTs in the context of marketing strategy and consumption.

Seo Hyun Kim, Jung Eun Lee, Song‐yi Youn

The rapid expansion of the non-fungible token (NFT) market, which grew over 200% in 2023 to reach $22 billion, has opened new avenues for fashion brands to engage consumers through digital fashion products under blockchain technology. This study investigated the effects of NFT promotional bundles that combine physical and NFT fashion items as a pair on consumer perceptions. By investigating the interaction effect between the brand type (luxury vs. non-luxury) and promotional bundle types (PHY+free NFT vs. NFT+free PHY), the research demonstrated how these bundles influenced consumers’ perceived value, risk, and authenticity according to the brand type. The findings showed that while a freebie physical item can enhance consumers’ perceived value of NFT products for non-luxury brands, it led to value-discounting inferences, particularly for luxury brands. This study contributes to the literature on NFT fashion by exploring consumer perceptions and providing insights for fashion retailers on effectively framing promotional bundles to maximize consumer engagement for NFT fashion products.

Jacqueline K. Eastman, Atefeh Yazdanparast, Seth Ketron

Purpose The present research takes a qualitative approach to examine young adult consumers’ perceptions and intentions toward non-fungible tokens (NFTs). The goal of the study is to identify consumer sub-segments of young adults based on their perceptions of/intentions toward NFTs. Design/methodology/approach This research utilized qualitative/thematic analysis. Findings The results revealed three sub-segments of young adults with different perceptions of NFTs. The largest group, Authenticators, perceive NFTs as luxurious digital possessions that are prestigious, have premium prices and are high quality. They are most likely to be early/late majority, but some are innovators/early adopters. The second-largest group, Pessimists, hold negative views about NFTs, seeing them as fads, silly and/or a waste of time and believing that investing in them is risky. These individuals are most likely to be laggards in terms of adoption. The smallest group, Futurists, hold forward-thinking views about NFTs. They are most likely to see themselves as innovators/early adopters, think of NFTs as the future of asset ownership, investment and digital life, and do not perceive them as overly risky. Originality/value The findings add to the scant literature on NFTs in marketing by documenting three potential sub-segments of young adult consumers for NFTs. NFT marketers should take care in effectively marketing NFTs’ value and addressing their risks to consumers as they relate to the identified consumer segments.

Jungkeun Kim, Areum Cho, Daniel Chaein Lee, Jooyoung Park · 7 authors

Non-fungible tokens (NFTs) are increasingly used to safeguard luxury products from counterfeits. Despite their increasing adoption, limited research has investigated how brands should communicate the use of NFTs—a novel and complex concept for consumers to comprehend—to maximize their benefits. This research aims to examine this gap by highlighting that the ease of visualization is critical for effective communication. Study 1A demonstrated that consumers prefer a visualized NFT to a non-visualized one for authenticating a luxury product. Study 1B further demonstrated that consumers place greater trust in a visualized NFT and are willing to pay higher prices for luxury products that utilize it. Study 2 demonstrated that consumers have more favorable attitudes toward a luxury product that features an easy-to-visualize NFT than those with a difficult-to-visualize NFT and that perceived authenticity mediates this effect. Finally, Study 3 demonstrated that the positive impacts of easy-to-visualize NFT cues were more significant for luxury than non-luxury products. Subsequently, this study suggests an effective communication strategy for NFT use and provides managerial implications for luxury brands aiming to maximize the benefits of using NFTs.

Qiuying Chen, Beomjin Choi, Sang-Joon Lee

This study navigates the intersection of luxury fashion brands and Non-Fungible Tokens (NFTs) in the digital realm. By examining customer segments within the luxury NFT market, this study unfolds insights into changing market trends, consumer behaviors, and brand strategies. Employing data mining approaches, XPath analysis and the k-means clustering algorithm, this study examines user characteristics and behavior on the OpenSea platform, the largest NFT marketplace, with a specific focus on the SUPERGUCCI NFT collection by Gucci. This study identifies three distinct clusters, namely, speculators, casual collectors, and cryptocurrency natives, as well as their characteristics and behavior. The findings illustrate the significant impact of NFTs on customer segmentation and engagement, offering strategic insights for luxury brands navigating technological advancements. As the luxury sector evolves, this study enhances understanding of NFTs' role in consumer engagement and retail strategy within the digital age.

J. Le Mao, Xiaohong Xu, Jinghe Han, Eunju Ko

Purpose This study aims to examine the effect of digital fashion marketing on consumer purchase intentions. Rooted in the stimulus–organism–response framework, it explores how digital marketing strategies in the fashion industry influence consumer attitudes and satisfaction, ultimately affecting their purchasing decisions. Design/methodology/approach It is mainly focused on the attitudes, satisfaction, and purchase intentions of young consumers in China and South Korea toward fashion brands stimulated by digital fashion shows and non-fungible tokens. This study modifies the research model through case studies, collects data through questionnaires, and analyzes the data using fsQCA and AMOS. Findings The findings of the fsQCA study show that stimuli impact consumers’ attitudes, satisfaction, involvement, and willingness to rewatch. The multigroup analysis shows that social norms and images have a greater influence on individuals in China, whereas Korea has a higher direct effect of individual involvement on consumption behavior. Originality/value The study is useful for global fashion brands because it emphasizes the role of digital innovations in shaping consumer–brand relationships and makes strategic recommendations for sustainable growth in the digital fashion landscape.

Chih‐Hung Wu, Tse‐Ping Dong, Chih‐Hsing Liu, Ho Tran Vu

No abstract is available for this record.

Hanna Lee, Md. Rafiqul Islam Rana, Yingjiao Xu

Purpose This study explores young consumers' motivations for purchasing Virtual Luxury Non-Fungible Token Wearables (VL-NFTs) from luxury brands, which are virtually crafted luxury wearables minted as blockchain-based NFTs. Specifically, it investigates the relationships among consumers' perceived value of VL-NFTs, engagement with NFTs and purchase intention and the mediating effect of consumer engagement with NFTs. Design/methodology/approach Data were collected via an online survey of 504 young US consumers who had previously considered purchasing luxury fashion products and NFTs. Structural equation modelling was adopted for analysis. Findings Perceived economic, functional (uniqueness) and experiential (self-directed pleasure and affiliation) values of VL-NFTs directly influenced consumers' purchase intention. While symbolic value (self-presentation and conspicuousness) did not significantly influence purchase intention, it facilitated consumer engagement with NFTs. Moreover, consumer engagement mediated the relationship between economic and functional values and purchase intention. Research limitations/implications The sample was only comprised of young consumers, limiting the generalizability. Additionally, consumers may perceive VL-NFTs differently because of differences in past experiences and the varying VL-NFT types, necessitating further investigation on consumers' motivations across different types of VL-NFTs. Originality/value This study contributes to the existing literature by examining the importance of multifaceted perceived-value dimensions and engagement with NFTs in consumers' motivation for purchasing VL-NFTs through the lens of the customer value framework.

Minjung Cho, Eunju Ko, Charles R. Taylor

Luxury brand managers are paying attention to utilizing non-fungible tokens (NFTs) as promotional tools, yet there has been limited study on the topic. To help address this gap, this study explores the impact of the cognitive and affective aspects of the use of NFTs as promotional devices on consumer behavior. A survey is conducted to explore aspects of NFTs that make them effective in as promotional tools. This study reveals four key attributes associated with NFT promotional efforts, namely, scarcity, authenticity, resaleability, and trendiness. Moreover, drawing on lovemark theory, the study finds a significant effect of NFTs electronic word of mouth generation and brand purchase intention. The empirical findings can aid both academics and practitioners in the management of digital marketing activities via NFTs.

Irfan Saputra, Imam Salehudin

Non Fungible Token (NFT) yang merupakan salah satu aset digital, kini mulai banyak digunakan oleh brand dalam strategi pemasaran mereka untuk lebih dekat dengan konsumen generasi muda. Teknologi baru ini dapat menjembatani antara dunia digital dengan produk fisik dan membentuk komunitas bagi brand. Popularitas dari NFT sendiri meningkat dalam beberapa tahun terakhir karena trend cryptocurrency dan pembelian NFT oleh celebrity. Tujuan dari penelitian ini yaitu untuk menganalisis hubungan customer knowledge dan product uniqueness terhadap purchase intention pada produk fashion NFT. Penelitian ini dilakukan pada 307 responden di Indonesia yang mengetahui mengenai fashion NFT dan brand yang memiliki produk tersebut. Hipotesis penelitian diuji dengan menggunakan metode Structural Equation Modeling (SEM). Hasil penelitian ini menunjukan hubungan positif dan signifikan antara customer knowledge dan product uniqueness dengan purchase intention. Selain itu, product uniqueness ditemukan dapat memediasi hubungan antara customer knowledge dengan purchase intention. Hasil dari penemuan pada penelitian ini memiliki implikasi untuk mengembangkan NFT dan brand lebih efektif, baik secara teori maupun praktik ke depannya.

Cheng-Wen Chang, Chao-Jung Lai, Chuan-Cing Yen

The emergence of non-fungible tokens (NFTs) has elicited both excitement and apprehension among consumers, who find themselves influenced by the perceived scarcity and the perceived risks surrounding these novel digital assets. This study investigates the factors influencing consumer adoption of NFTs by integrating the concepts of perceived scarcity and perceived risks within the theoretical framework of the Theory of Planned Behavior (TPB). Employing structural equation modeling, the research evaluates the impact of perceived scarcity, perceived ease of use, attitudes, subjective norms, perceived behavioral control, and perceived risk on NFT purchase intentions. The findings reveal that perceived scarcity and perceived ease of use significantly positively affect consumers' intentions to purchase NFTs. Conversely, perceived risk exerts a negative effect on purchase intentions. Additionally, the study demonstrates that attitudes, subjective norms, and perceived behavioral control positively affect NFT purchase intentions. This study provides a behavioral roadmap for navigating the complex love-hate relationship consumers have with NFTs, shedding light on the factors that motivate individuals to embrace or avoid these digital collectibles.

Joern Schlimm, Sebastiano Mereu, Christoph Breuer

Purpose Over the past years, non-fungible tokens (NFTs) have sparked growing interest in the sport industry. NFTs are unique digital assets verified using blockchain technology. Each NFT has a distinct identifier that sets it apart from other tokens, documenting its uniqueness and ownership. NFTs promise innovative growth opportunities by generating revenue via novel products such as digital collectibles which can be owned and traded on dedicated platforms. Despite this promising outlook, it currently seems unclear how sports NFTs should be designed and which features they should offer to align with consumer values, effectively meet their needs and ultimately drive Purchase Intention. This study will therefore attempt to answer the following research question: Which consumer values and consumer needs have a positive impact on PI of sports NFTs? Based on the results, the study seeks to offer advice on concrete characteristics sports NFTs should possess in order to foster mainstream adoption. Design/methodology/approach To address the current gap in the literature and provide an answer to the research question, this paper uses structural equation modelling exploring the impact of consumer values and consumer needs or wants on purchase intention regarding sports NFTs. Findings The results of this study indicate that social needs or wants (SNW) have the strongest impact on purchase intention, as well as on experiential and functional needs or wants. NFTs should therefore possess characteristics that foster community, interaction and connection with other team or athlete supporters while enhancing the overall consumer experience. Incorporating these elements into future NFTs can help sports organizations tap into the social SNW of consumers by providing opportunities for connection, interaction and collective experiences within supporter communities. Research limitations/implications Due to the low response rate of Baby Boomers, the results of the study cannot be applied to this cohort. Additional research, potentially using physical in-stadium surveys and targeted specifically at the BB cohort may shed light on their particular values, needs or wants and impact on sports NFT purchase intention. Moreover, Generation Z respondents may statistically be underrepresented in the sample due to the fact that only respondents aged 18 and older were included in the study. Hence, the part of Generation Z, which was born after March 2006 and had not yet come of age at the time of this research, was explicitly excluded from the survey. Results should be applied carefully to the population of sports team or athlete supporters due to the method of data collection which was based on convenience sampling and may therefore not be representative. Since the survey was exclusively administered online, people with no Internet access are not represented in this research. Practical implications Sports organizations and marketers can leverage the strong impact of SNW identified in this study to position their NFT portfolio accordingly. Using athletes themselves or other influencers as product ambassadors may trigger purchase intention of consumers. Additionally, it is crucial that socializing agents, such as family, friends, colleagues and other team supporters with a strong influence on consumers own or promote NFTs. Marketers can support this adoption process by encouraging testimonials, reviews and user-generated content that showcase how NFTs have positively impacted others. Reaching a critical mass of adoption among supporters as a first step will ultimately impact consumers’ desire to satisfy ENW and FNW as well. Consumers may then recognize the benefits of using NFTs to enhance their overall consumer experience and to make their lives easier, for instance by using NFTs as season tickets or to collect loyalty points they can redeem later. Originality/value This study is the first attempt to determine the relationship between consumer values, consumers’ needs or wants and their impact on purchase intention regarding sports NFTs.