While non-fungible tokens (NFTs) have triggered a new market for tourism, they have also encountered challenges and controversies. Drawing on the socio-ecological perspective, this study uses a qualitative approach to identify factors influencing consumer adoption of and resistance to NFTs in tourism. The findings reveal that consumer adoption and resistance are shaped by the effect of individual-level (e.g. innate innovativeness and routine seeking), micro-level, exo-level, and macro-level factors and the interactions across various systems. An important factor is scarcity value of NFTs in tourism which compensates for experiences that tourists cannot obtain in the offline tourism. Results provide a socio-ecological perspective for the understanding of innovation adoption and resistance in an emerging context and the promotion of NFTs in tourism.
Wenjie Li, Graciela Corral de Zubielqui, Sally Rao Hill
This study explores the evolving intersection of branding and digital assets through the lens of non-fungible tokens (NFTs), focusing on their role in shaping dynamic brand experiences. We propose a typology framework that examines how NFTs contribute to brand experience design and provides their implications for brand-consumer relationships. The research analyses five distinct NFT functionsâstorytelling media, identity badges, product access pass, change medallion and gamification elementâand connects these roles to five types of brand experience design: brand heritage, community, product orientation, collaboration, and gamification. The findings contribute to digital branding literature by advancing the understanding of the function of digital assets within the brand experience design. This study offers a structured understanding of the value of NFTs in digital brand building by providing the roles NFTs play in brand experience. It explores the dynamic potential of brands to integrate NFTs into their strategies in the evolving Web3 environment. Finally, the industry pattern identified in this study provides insights for scholars and practitioners seeking to utilise NFTs effectively.
Open access
Consumer Behavior in Brand Consumption and Identification
The rise of social media sites has far-reaching effects on numerous areas in our life, including money decision-making. In the context of cryptocurrency, a novel alternative asset class for investment the roles of social media have taken on more and more powerful roles in determining investors' behaviors, market structure, and even eco-consciousness. This paper aims to explore the intricate relationship between social media engagement and cryptocurrency investment trends, with a special emphasis on environmental considerations and market volatility. In this paper, we use wavelet comovement and coherence analysis to explore the multifaceted relationship between social media, environmental awareness, and cryptocurrency investment dynamics. Empirical results show a positive relationship between the Cryptocurrency Environmental Attention index-based social media which highlights the significant influence on investor attitudes. The interactions between the Index of Cryptocurrency Environmental Attention, cryptocurrency uncertainty, financial market, and gold demonstrate complex relationships shaped by market volatility, investor behavior, and social pressures. The quick investor responses to environmental concerns and regulatory changes highlight the short-term negative relationship, while the positive influence of social media underscores the significant impact of social awareness on investment decisions and corporate practices. This underscores the importance of integrating environmental criteria into financial strategies to meet evolving investor expectations and societal demands.
Hongzhou Chen, Chenyu Zhou, Abdulmotaleb El Saddik, Wei Cai
In the rapidly evolving Web3 world, non-fungible token (NFT) communities are reshaping the formation, distribution, and activation of social capital in ways distinct from traditional models. However, despite their growing impact on societal prosperity, a comprehensive understanding of social capital dynamics within Web3 NFT communities remains limited. This study explores the Mfers community, a key example within Web3 NFT ecosystems. By analyzing social media and blockchain data and using a Delphi method-based human-large language model (LLM) collaboration, we uncovered unique social capital patterns across six dimensions. Our findings highlight a compelling blend of decentralization, inclusion, trust, and empowerment but also raise critical questions about wealth inequality, content quality, and ethical challenges. Based on the findings, we discussed the uniqueness of social capital in Web3 NFT communities, the tension between technical and power decentralization, and the multidimensional nature of societal prosperity. We also suggested directions for future research on decentralized online communities in the CSCW field. This study provides a systematic perspective on social capital in Web3 NFT communities and introduces an innovative human-LLM collaborative analysis, offering insights into the design and governance of benign decentralized online communities.
Yifan Cao, Reza Hadi Mogavi, Meng Xia, Leo YuâHo Lo ¡ 9 authors
Today's world is witnessing an unparalleled rate of technological transformation. The emergence of non-fungible tokens (NFTs) has transformed how we handle digital assets and value. These tokens have captured the interest of scholars and businesspeople alike. However, NFTs have recently seen a sharp decline in popularity. While cryptocurrency volatility and monetary policies greatly influenced NFT market trends, the community aspects of NFT projects--particularly trust-based interactions--also play a crucial role in NFT adoption and sustainability. From a social computing perspective, understanding these trust dynamics offers valuable insights for the development of both the NFT ecosystem and the broader digital economy. China presents a compelling context for examining these dynamics, offering a unique intersection of technological innovation and traditional cultural values. Through an in-depth qualitative study of Chinese NFT communities, we examine how socio-cultural factors influence trust formation and development. We analyzed discussions from eight prominent WeChat groups dedicated to NFTs and conducted 21 semi-structured interviews with three types of NFT community members. We found that trust in Chinese NFT communities is significantly molded by local cultural values. To be precise, Confucian virtues, such as benevolence, propriety , and integrity , play a crucial role in shaping these trust relationships. Our research identifies three critical trust dimensions in China's NFT market: (1) technological , (2) institutional , and (3) social . We examined the challenges in cultivating each dimension. Based on these insights, we developed tailored trust-building guidelines for Chinese NFT stakeholders. These guidelines address trust issues that factor into NFT's declining popularity and could offer valuable strategies for CSCW researchers, developers, and designers aiming to enhance trust in global NFT communities. Our research urges CSCW scholars to take into account the unique socio-cultural contexts when developing trust-enhancing strategies for digital innovations and online interactions.
Sharareh Shahidi Hamedani, Patrick Brian Francis, Sarfraz Aslam
Cryptocurrency is a digital asset designed to work as a medium of exchange that utilizes cryptography for security, unlike traditional currencies. Generally, the acceptance of Cryptocurrency in Malaysia is still in its early stages of adoption. The study examined the key factors influencing Millennials' willingness in Malaysia and how regulation moderates the relationship between these factors and Millennials' willingness to adopt cryptocurrency. Data were collected using a questionnaire developed from the literature. A total of 385 respondents from the millennial age group participated in this study. SMART PLS software was used for analysis involving measurement and structural models. The findings indicated interesting results. Millennials were very aware of cryptocurrency. However, when applying the regulation moderator, the results showed a high understanding of the importance mainly derived from Social Influences. The adoption of the knowledge in practice was not significant. With the inclusion of the major banking institutions, the market scope of cryptocurrency will inevitably increase soon.
This study aims to determine factors that influence Mongolian customersâ intention to use cryptocurrency, which is a virtual currency created by fast-growing technology. For the theoretical framework, the extended Unified Theory of Acceptance and Use of Technology (UTAUT2) along with received risk and financial literacy was used. Data in this study were collected by conducting survey questionnaires from cryptocurrency users of cryptocurrency platforms in Mongolia. Analyzing the data which consists of 720 valid datasets was accomplished by using SmartPLS software. The results of partial least squares structural equation modeling (PLS-SEM) showed that behavioral intention to use cryptocurrency is significantly and positively influenced by performance expectancy, price value, perceived risk, hedonic motivation, and facilitating conditions. In contrast, financial literacy has a significant negative impact on the behavioral intention to use cryptocurrency. The other two variables, effort expectancy and social influence, have no impact on cryptocurrency use. The proposed model explains 59.3% of the total variance in intention to use cryptocurrency among Mongolian customers. The outcomes of our study hold noteworthy implications for policymakers, individual users, and stakeholders within the cryptocurrency domain, as well as researchers engaged in scholarly investigations within this field. JEL Classification : G4, G11.
In order to solve the problem of low security of high network information sharing, the architecture and implementation of agent-based information sharing and pushing system are proposed. Firstly, the information node registration algorithm is introduced to draw the organization network connected to the public network into an orderly block network and extract the abnormal information of network nodes; Secondly, a complete network identity security threat intelligence is generated through effective scheduling and transmission of network identity security threat intelligence; Finally, the distributed ledger technology is introduced to match it with IP network, and the private chain and data are extracted by constructing data structure on the information chain to realize the generation and operation of intelligence information sharing model. The experimental results show that the model designed in this paper can protect the privacy information that all network users need to protect in the process of sharing information resources, and its privacy protection intensity exceeds 0.950. Conclusion: The proposed sharing model can realize the safe sharing of user intelligence information in practical application, and the userâs private intelligence information will not be leaked during the sharing process, which reduces the threat degree of network security.
Lack of historical and cultural knowledge often leads to reduced tourist satisfaction, a gap that existing tourism services have yet to bridge. In response, we developed NFTrip, a Web3 application that integrates NFTs and gamification to enhance tourism learning and satisfaction. Users earn destination-specific NFTs by completing history and culture quizzes, fostering deeper engagement with tourist sites. Additionally, NFTrip lowers barriers to Web3 adoption by providing an intuitive, beginner-friendly interface with clear technical explanations, helping users not only acquire NFTs but also understand their value and security. Initial evaluations suggest that NFTrip effectively promotes learning about tourist destinations, improves tourist satisfaction, and highlights a novel value proposition for NFTs in the tourism industry by making their utility and importance more comprehensible to users.
Non-fungible tokens (NFTs) represent a promising application of blockchain technology that can potentially disrupt various sectors, mainly tourism. While there have been conceptual discussions regarding the opportunities and challenges of utilizing NFTs for purposes such as digital souvenirs, ticketing, loyalty programs, and conservation initiatives, there remains a significant need for a robust methodological framework to assess the impact of real-world NFT implementations empirically. This paper presents the methodological foundation of ongoing research. It proposes a comprehensive approach to researching NFT initiatives within the tourism sector, which includes data collection methods, analytical techniques, and the design of a workbench for monitoring key performance indicators (KPIs). The proposed framework combines quantitative and qualitative measures to capture the complex nature of NFT adoption, including financial performance, visitor engagement, user experience, and operational efficiency. By establishing standardized protocols and metrics, the proposed methodology aims to enable cross-study comparisons and contribute to developing the best practices for leveraging NFTs in the tourism industry. The work highlights the potential of NFTs to enhance visitor experiences, generate new revenue streams, and promote destinations as tech-savvy hubs, while also addressing ethical and sustainability concerns. The conclusion emphasizes the importance of a structured approach to evaluating NFTs initiatives, which can provide valuable insights for tourism organizations seeking to innovate and remain competitive in a digital landscape. Future research should focus on validating the framework through real-world case studies, exploring additional applications of NFTs in tourism, and addressing challenges related to data availability, technological integration, and stakeholder collaboration.
Purpose This study explores the relationship between perception of advantage, technology adoption propensity (TAP), technology readiness and brand engagement in the context of non-fungible token (NFT) adoption. Design/methodology/approach Through empirical research and structural equation model (SEM) analysis, this research collects data from hotel managers to improve understanding of NFT adoption in the hotel industry and provide valuable insights for hotel managers, industry professionals and researchers. Findings The findings reveal that perception of advantage, including perceived usefulness and perceived ease of use, indirectly influences brand engagement through TAP and technology readiness. Additionally, the study finds that hotel image acts a moderating mechanism role in the relationship between perception of advantage and technology adoption propensity. Originality/value The study provides valuable insights for hotel managers by emphasizing the importance of perception of advantage and hotel image in driving technology adoption and enhancing brand engagement. This investigation contributes to the understanding of the factors influencing technology adoption and brand engagement, particularly in the context of NFT adoption.
ABSTRACT While nonâfungible tokens (NFTs) have emerged as a significant blockchain application, research has largely focused on market dynamics rather than consumer behavior. Through inâdepth interviews with 21 NFT consumers and a netnographic analysis of Discord interactions (109,517 words), this study develops a comprehensive framework explaining the evolution from initial purchase to sustained or discontinued interest in NFTs. The findings reveal that while profit expectations drive initial purchases, strong community bonds and social identity formation are crucial for maintaining engagement. Specifically, active community participation, both before and after purchases, creates a selfâreinforcing cycle where engagement directly influences NFT valuation. However, unfulfilled profit expectations and perceived community abandonment by project leaders often lead to disillusionment. The study extends the NeedâtoâBelong and Social Identity Theory to the digital asset context, demonstrating how NFT communities serve as platforms for identity expression and emotional support, transcending purely financial motivations. For practitioners, the findings suggest that sustainable NFT projects should prioritize community building and transparent leadership over shortâterm speculation. This research provides the first longitudinal analysis of NFT consumer behavior, offering insights into how digital assets can create enduring value through social engagement rather than merely speculative trading.
This study examines the representation and evaluation of Web3 technology in the German music media from 2016 to 2022, focusing on its prevalence, framing, and acceptance in the context of the music sector. Utilizing framing theory and the Technology Acceptance Model, a quantitative content analysis was conducted on articles from various music magazines. The findings indicate a generally positive portrayal of Web3, with significant discussion peaks in 2019, 2021, and 2022. Notably, no coverage was found in music education magazines, suggesting a gap in Web3 engagement in pedagogy. Much of the coverage was in Musikwoche, highlighting Web3âs impact on business aspects like ticketing, copyright, and licensing. The overall positive depiction, juxtaposed with limited critical evaluation, points to the need for a more nuanced discourse. The study underscores implications for balanced media coverage, informed musician engagement with Web3, and the potential for incorporating this technology in music education. It highlights the importance for the music industry of capitalizing on Web3âs positive aspects while practising critical awareness, and it calls for further research to explore the depth of Web3âs influence in music.
In the context of the deep integration of rural revitalization strategy and digital technology, the digital transformation of rural tourism faces threefold dilemmas of efficiency, trust, and cultural preservation. This paper, taking blockchain technology as a starting point, systematically explores the internal logic and practical paths of its empowerment in rural tourism, aiming to construct a "technology-scenario-governance" collaborative framework to resolve structural contradictions in industrial development. The study is based on the Social-Technical Systems Theory (SST), adopting interdisciplinary research methods, and uses typical cases to demonstrate how blockchain technology drives high-quality development in rural tourism by reconstructing production relations. The study finds that blockchain technology, through mechanisms of "trusted data flow" and "autonomous smart contracts," reshapes the power structure, value transfer, and governance models in rural tourism. Its distributed ledger feature solves issues such as data islands and the loss of trust in stakeholders, while its DAO governance and Token economic models activate villagers' participation. The paper also proposes four-dimensional application scenarios covering trusted service chains, value co-creation chains, green governance chains, and inclusive finance chains, achieving the reconstruction of consumption scenarios, cultural IP development, ecological supervision optimization, and investment and financing innovation through technological integration. Furthermore, the paper warns of three major challenges for the technologyâs implementation: the gap between computing power and rural infrastructure, the institutional coupling difficulties between on-chain and off-chain systems, and the conflict between technological rationality and rural ethics. It proposes a "lightweight blockchain + edge computing" technical solution and designs a "multi-party chain governance committee" system to balance the rights and responsibilities of government, enterprises, and villagers, incorporating "ethical coding" into the design of technology to embed rural culture. Future research should focus on the integration of the metaverse, AI, and blockchain technologies, enhancing service personalization while preventing cultural alienation risks, thus providing solutions for rural common prosperity that combine technological innovation with the protection of cultural roots.
Yingqiang Ge, Haochuan Wang, Kenny Cheah Soon Lee, A.Z.N.I.Z.A.R.I.N.A.B.I.N.T.I. TAHA
Social media plays a critical role in influencing Bitcoin adoption trends from 2015 to 2023, acting as both an enabler and a disruptor. While platforms have enhanced public awareness of cryptocurrency, they have also fuelled challenges such as misinformation and impulsive behaviour, often undermining responsible consumption of Bitcoin as a financial tool. This dual role underscores the need for targeted interventions to ensure that the adoption of Bitcoin aligns with ethical and informed practices. To foster responsible consumption, social media platforms must address the issue of content imbalance. Algorithms that prioritize sensationalism over educational material often mislead users, steering them toward impulsive decisions. A redesign of these algorithms is essential to elevate balanced, fact-based content that empowers users to make informed choices about Bitcoin. Additionally, introducing verified content tags can serve as a vital measure to combat misinformation, ensuring that users can easily identify credible information sources. Regulatory frameworks are another cornerstone of promoting responsible consumption in the cryptocurrency space. By implementing transparency guidelines and ethical standards for influencers and content creators, stakeholders can mitigate manipulation and foster trust within the digital ecosystem. By integrating these measures, social media can evolve into a platform that not only supports Bitcoin adoption but also ensures it is guided by responsible consumption principles. Such a transformation is vital to harnessing social media's potential while minimizing the risks posed to individuals and the broader financial community.
Social media has attracted society for decades due to its reciprocal and real-life nature. It influenced almost all societal entities, including governments, academics, industries, health, and finance. The Social Network generates unstructured information about brands, political issues, cryptocurrencies, and global pandemics. The major challenge is translating this information into reliable consumer opinion as it contains jargon, abbreviations, and reference links with previous content. Several ensemble models have been introduced to mine the enormous noisy range on social platforms. Still, these need more predictability and are the less-generalized models for social sentiment analysis. Hence, an optimized stacked-Long Short-Term Memory (LSTM)-based sentiment analysis model is proposed for cryptocurrency price prediction. The model can find the relationships of latent contextual semantic and co-occurrence statistical features between phrases in a sentence. Additionally, the proposed model comprises multiple LSTM layers, and each layer is optimized with Particle Swarm Optimization (PSO) technique to learn based on the best hyperparameters. The model's efficiency is measured in terms of confusion matrix, weighted f1-Score, weighted Precision, weighted Recall, training accuracy, and testing accuracy. Moreover, comparative results reveal that an optimized stacked LSTM outperformed. The objective of the proposed model is to introduce a benchmark sentiment analysis model for predicting cryptocurrency prices, which will be helpful for other societal sentiment predictions. A pretty significant thing for this presented model is that it can process multilingual and cross-platform social media data. This could be achieved by combining LSTMs with multilingual embeddings, fine-tuning, and effective preprocessing for providing accurate and robust sentiment analysis across diverse languages, platforms, and communication styles.
Jehun Moon, Mehmet Erdem, ĂzgĂźr Ăzdemir, Hyelin Kim ¡ 5 authors
Purpose This study aims to investigate and compare the factors that affect Millennials and Generation Z (Gen Z) hotel guestsâ intention to adopt cryptocurrency payments (CPs) when booking a hotel. Design/methodology/approach A sequential mixed-methods approach was used. Study 1 included 20 semi-structured interviews. The qualitative findings subsequently informed the design of a quantitative survey in Study 2, conducted with 604 participants. Additionally, the authors examined the moderating effect of generational differences. Findings Through a thematic analysis, Study 1 identified six predetermined factors from the innovation diffusion theory and the unified theory of acceptance and use of technology â trialability, observability, performance expectancy, effort expectancy, facilitating conditions and social influence â and two additional elements â personal innovativeness and perceived risk. Study 2 quantitatively examined that all eight factors were significant predictors of intention to adopt CPs among Millennials and Gen Z hotel guests. Furthermore, the findings from the comparative analysis based on the generational cohort theory indicated that generational differences moderated the relationships among performance expectancy, effort expectancy and personal innovativeness and adoption intention. Practical implications The results of this study offer actionable insights for hotel operators and policymakers aiming to expedite CP adoption among Millennials and Gen Z hotel guests. Originality/value To the best of the authorsâ knowledge, this study is among the first studies to comprehensively identify the determinants and their significance differences in Millennials and Gen Z hotel guestsâ intentions to adopt CPs via a sequential mixed-methods approach.
K. Kajol, Srijanani Devarakonda, Ranjit Singh, H. Kent Baker
Abstract Cryptocurrency has gained popularity as a potential new global payment method. It has the potential to be faster, cheaper, and more secure than existing payment networks, making it a game-changer in the global economy. However, more research is needed to identify the factors driving cryptocurrency adoption and understand its impact. We use social network analysis (SNA) to identify the influencing factors and reveal the impact of each on cryptocurrency adoption. Our analysis initially revealed 44 influential factors, which were later reduced to 25 factors, each exerting a different influence. Based on the SNA, we classify these factors into highly, moderately, and least influential categories. Discomfort and optimism are the most influential determinants of adoption. Moderately influential factors include trust, risk, relative advantage, social influence, and perceived behavioral control. Price/value, facilitating conditions, compatibility, and usefulness are the least influential. The factors affecting cryptocurrency adoption are interdependent. Our findings can help policymakers understand the factors influencing cryptocurrency adoption and aid in developing appropriate legal frameworks for cryptocurrency use.
Abstract This study examines Pakistani citizensâ behavioral intentions toward the adoption of cryptocurrency as a digital currency. Cryptocurrency refers to a form of currency that exists in digital or virtual form and relies on cryptography to ensure the security of transactions and regulate the generation of additional units. Cryptocurrencies have the potential to disrupt the global financial system. Cryptocurrency is a viable option for decentralized and secure transactions, offering enhanced transparency and lowering dependence on conventional financial institutions. The authors collected data from potential cryptocurrency customers or investors. Data were collected from Karachi (Pakistan). The study was conducted with the help of the diffusion of innovation theory (DOI), employing all its components (relative advantage, compatibility, complexity, trialability, and observability). The DOI model statements were modified and adapted to satisfy the requirements of this study. This empirical research report concludes that relative advantage (financial incentives, technology advancement, global accessibility, privacy and security, and P2P nature), compatibility (User-friendliness, Integration with existing systems, compatibility with digital lifestyles), and complexity (ease of use and mass adoption) contribute to the adoption. Trailability (lack of familiarity and risk aversion) and observability (limited exposure, lack of social proof, and negative stigma) are unrelated to customer behavior toward cryptocurrencies. In all these contexts, cryptocurrency adoption can enhance value co-creation. Finally, this study provides valuable insights for stakeholders.
Yanlin Li, Yung Po Tsang, Danny C. K. Ho, Mucahit Ozden ¡ 6 authors
The rise of blockchain technology has introduced Non-Fungible Tokens (NFTs) as innovative tools in digital marketing, yet consumer resistance hinders their widespread adoption. This study applies innovation resistance theory to investigate the barriers to NFT marketing adoption, as well as the moderating role of consumer knowledge. Using a dual-method framework, Covariance-Based Structural Equation Modeling (CB-SEM) of survey data (n=610) and insights from eight large language models identify perceived risk as the primary barrier, amplified by higher consumer knowledge. As the first study combining empirical analysis with AI-driven insights, it provides actionable strategies to mitigate resistance and advance blockchain-based marketing.
The rapid growth and increasing adoption of cryptocurrencies have reshaped the investment landscape, presenting unique opportunities and challenges for investors. This study examines how advisory information sources influence cryptocurrency investment behaviors and intentions among U.S. investors. Using data from the 2021 National Financial Capability Study, it explores how reliance on financial professionals, media, and social networks shapes investment decisions. The motivation for this research lies in the need to understand the divergent roles of these sources in an era where traditional and emerging financial advice coexist. Findings reveal that reliance on financial advisors correlates with reduced cryptocurrency investment and future investment intentions, reflecting advisorsâ cautious stance toward volatile assets. Conversely, reliance on media and social networks significantly increases both current investments and future intentions. The findings also highlight that investor confidence is positively associated with the likelihood and intentions to invest in cryptocurrency. Conversely, heightened risk perceptions associated with cryptocurrency reduce both the likelihood and intentions to invest. The study calls for financial professionals to enhance client education on cryptocurrency risks and for policymakers to strengthen regulations, ensuring accurate information dissemination through media and social networks. By providing a nuanced understanding of advisory influence and investorsâ characteristics, this research offers valuable insights for financial professionals, policymakers, and investors navigating the complexities of cryptocurrency investments.