Blockchain Papers

Zhiqing Liao

Famous worldwide corporations have used the meta-universe marketing technique in recent years: Givenchy built a virtual beauty salon, Givenchy Beauty House, and Mac linked virtual idols. AYAYI, Estee Lauder launched the world's most famous paintings of digital collections, L'Oreal created Reds of Worth Non-Fungible Token (NFT) art, and so on, leading to the research question: how does the meta-universe empower beauty businesses to achieve greater marketing and sales? The study concluded that: First, the quality of the consumer environment is strongly tied to sales via the employment of Virtual Reality (VR) and Augmented Reality (AR) technologies to enhance the realism of the consumer environment in the meta-universe scene. Second, as the meta-universe community is built to suit customers' social requirements, social demands are becoming increasingly prominent in consumer demand. Third, the added value of the brand is to increase market competitiveness through the integration of IP and NFT promotions to increase the added value of the brand. The main contribution of this article is to propose new ideas for beauty brands to boost brand creation and consumption using meta-universe marketing.

Sergej Gričar, Violeta Šugar, Tea Baldigara, Raffaella Folgieri

With the emergence of the metaverse, countries’ digital efforts to create tourism opportunities have given rise to the possibility of capitalising on digital content which, along with physical tourism experiences, can generate further income and enhance a country’s reputation. Non-fungible tokens (NFTs), a unique application of blockchain technology, offer an enabling technology in several sectors, including tourism. Therefore, this study aims to explore the official tourism websites of Croatia and Slovenia and analyse current NFT applications in tourism economics. The methodology focuses explicitly on sentiment analysis, blockchain and machine learning. The paper introduces various applications currently in place, including Slovenia’s “I Feel Nft” project. The research shows that the main benefits of using NFT and sentiment analysis in the tourism economy are the promotion and presentation of major tourist destinations, exhibitions, works of art, and companies’ products in tokens, digital content and souvenirs. The adoption of sentiment analysis and NFTs in the tourism economy is still open to proposals for implementing public quantitative data metrics. Therefore, the scientific contribution of this research is essential in terms of operational recommendations and defining metrics for measuring the effectiveness of those methodologies and their applications in the tourism economy. On top of that, the practical contribution lies in monitoring the influx of tourists, and highlighting their increase over time and the significance of new technology in time series tourism research.

Nattapong Robkob, Sumaman Pankham

Purpose: The purpose of this study is to assess the impact of social media on perceptions and investment intentions regarding cryptocurrency, using the Fuzzy Delphi Method (FDM) and the Technology Acceptance Model (TAM). Theoretical Reference: The theoretical framework for this study is based on the Fuzzy Delphi Method (FDM) for gathering expert feedback and the Technology Acceptance Model (TAM) for understanding the acceptance of technology. Method: The method involved collecting responses using a 7-point Likert scale and a panel of eight experts who reviewed and approved the survey items. The data were analyzed using triangular fuzzy numbering and defuzzification to determine the ranking of each variable. Results and Conclusion: The study found a high level of consensus among experts, with defuzzification values exceeding the α-cut >.5, and the overall threshold value (d) was less than .2, which is within the required threshold for percent consensus of over 75%. All 60 recommended items were deemed suitable for inclusion in a large-scale survey. Implications of Research: The research implies that there is a strong agreement among experts on the factors influencing the perceptions and investment intentions towards cryptocurrency as mediated by social media. This consensus can be used to inform a larger-scale survey and potentially guide investment and marketing strategies in the cryptocurrency domain. Originality/Value: The originality of this research lies in its application of the Fuzzy Delphi Method to the field of cryptocurrency and its combination with the Technology Acceptance Model to understand investment intentions influenced by social media. The value is in providing a methodologically sound basis for further large-scale research and offering insights into expert consensus on the topic.

Khushboo Sharma

In our interconnected and fast-paced world, businesses are continually exploring innovative ways to connect with their target audience and promote their products or services. Digital marketing has emerged as a powerful and dynamic strategy, utilizing the potential of digital technologies to effectively reach, engage, and convert customers in the online realm. This paper delves into the fundamental principles of digital marketing, highlighting its evolution from the early stages of the internet to the complex ecosystem it is today. The historical journey of digital marketing, from the precursors in the 1970s to the mobile-dominated 2010s and the technologically advanced 2020s, is explored. The study emphasizes pivotal moments such as the introduction of websites, the rise of search engines and social media, and the impact of mobile dominance on marketing strategies. Furthermore, the chapter underscores the importance of digital marketing in modern business strategies, enabling companies to adapt, innovate, and thrive in an environment where digital interactions play a crucial role in shaping consumer behaviors. The objectives of this study encompass understanding the core concept of digital marketing and investigating futuristic trends, including the metaverse, non-fungible tokens (NFTs), cryptocurrency, and the growing emphasis on zero and first-party data. The significance of digital marketing is substantiated by its success in leveraging widespread digital adoption, providing a global reach, targeted advertising, cost efficiency, measurable results, personalization, and enhanced customer engagement. Current trends in digital marketing, ranging from search engine optimization (SEO) to influencer marketing and analytics-driven strategies, are outlined to showcase the diverse approaches available. Looking towards the future, the chapter explores futuristic trends in digital marketing, such as the metaverse's potential to reshape brand-consumer engagement, the utilization of NFTs for unique digital experiences, and the continued influence of cryptocurrency. Additionally, the focus on privacy, sustainability, gender neutrality, and accessibility are projected to play integral roles in shaping the future landscape of digital marketing. In conclusion, the study posits that digital marketing has become an integral and indispensable component of modern marketing efforts. Its ability to precisely target audiences, measure campaign effectiveness in real-time, and adapt strategies based on data insights makes it a cornerstone in connecting with consumers in the digital age.

Tianqi Huang

With the development of digital technology, the fashion industry has also begun a digital transformation. Non-Fungible Token (NFT) clothing, as a new fashion trend, has always been a new direction pursued by brands. At the same time, the main group of consumers is also gradually shifting from the previous Generation Y to Generation Z. Generation Z is the future consumption potential group, they deserve brands to adjust their consumption strategies. By exploring the consumption behaviour of Generation Z and its attitude towards virtual fashion, this paper analyzed the fitness between NFT clothing and Generation Z. And it used the literature analysis method to analyze and summarize the papers related to virtual fashion, NFT clothing and the consumption view of Generation Z. Based on the result, it can be seen that the characteristics of NFT clothing are in line with the consumption psychology of Generation Z. Although NFT clothing is still in its early stage, it can be predicted that Generation Z will be the main consumer group of virtual fashion in the future based on their interest in virtual fashion. The future of brands focusing on NFT clothing is bright. By studying Generation Z consumption psychology, this paper hopes to contribute to brand marketing strategy for the future.

Crystal T. Lee, Yung‐Cheng Shen, Zimo Li, Hong-Hao Xie

No abstract is available for this record.

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 cross‐sectional 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.

Quan Xie, Sidharth Muralidharan, Steven M. Edwards, Carrie La Ferle

Non-fungible tokens (NFTs) have garnered attention among marketers; however, their utilization in branding campaigns remains largely underexplored. The present study examines the perceptions of Gen Zers and millennials toward branded NFTs and the impact of these perceptions on their attitudes and behaviors toward both the NFTs and the brand. The study proposes and tests a model based on the technology acceptance model and the theory of reasoned action to explain how NFT perceptions (perceived usefulness, ease of use, playfulness, risk, and scarcity) influence their evaluations of branded NFTs, willingness to purchase branded NFTs, brand attitude, and ultimately brand loyalty and purchase intentions, via a quasi-experiment. Findings showed that the perceived usefulness, playfulness, and scarcity of NFTs, as well as NFTs as a low-risk purchase, helped strengthen brand purchase intentions. More important, attitudes toward branded NFTs, willingness to purchase NFTs, brand attitudes, and brand loyalty positively mediated this relationship. Also, perceived descriptive norms of NFTs positively related to willingness to purchase branded NFTs. These findings advance both theory and practice in NFT marketing, representing one of the first empirical studies in this area.

Marius Arved Fortagne, Bettina Lis

Abstract Disrupting the concept of ownership in the digital space, non‐fungible 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 Stimulus‐Organism‐Response (SOR) model to investigate consumers' purchase intention of NFT‐based 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 NFT‐interested 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 under‐investigated 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.

Quan Xie, Sidharth Muralidharan, Steven M. Edwards

Innovative companies are experimenting with branded NFTs as part of their marketing strategies to engage consumers who are seeking exclusive content. Young consumers tend to be early adopters of blockchain technologies and are seeking branded NFTs for their own purposes. Using a U.S. sample of Gen-Z and Millennials (n = 1,053), we examined the values (i.e. informative, entertainment, unique, expressive values) consumers are seeking in the acquisition and display of branded NFTs and explored how their tendencies toward status consumption, perceived financial constraint, and dispositional innovativeness influenced their willingness to engage in brand WOM. The analyses confirmed the proposed model and revealed that value perceptions (unique, entertainment, and expressive values) helped elicit an individual’s sense of status consumption and dispositional innovativeness. This relationship resulted in positive brand WOM. For the financially constrained, the unique value offered by NFTs was important for positive WOM to manifest. This research helps both marketers and policymakers better understand consumers’ psychological responses to branded NFTs.

HaeJung Maria Kim, Swagata Chakraborty

Purpose The study aims to explore the digital fashion trend within the Metaverse, characterized by non-fungible tokens (NFTs), across Twitter networks. Integrating theories of diffusion of innovation, two-step flow of communication and self-efficacy, the authors aimed to uncover the diffusion structure and the influencer's social roles undertaken by social entities in fostering communication and collaboration for the advancement of Metaverse fashion. Design/methodology/approach Social network analysis examined the critical graph metrics to profile, visualize, and cluster the unstructured network data. The authors used the NodeXL program to analyze two hashtag keyword networks, “#metaverse fashion” and “#metawear,” using Twitter API data. Cluster, semantic, and time series analyses were performed to visualize the contents and contexts of communication and collaboration in the diffusion of Metaverse fashion. Findings The results unraveled the “broadcast network” structure and the influencers' social roles of opinion leaders and market mavens within Twitter's “#metaverse fashion” diffusion. The roles of innovators and early adopters among influencers were comparable in collaborating within the competition venues, promoting awareness and participation in digital fashion diffusion during specific “fad” periods, particularly when digital fashion NFTs and cryptocurrencies became intertwined with the competition in the Metaverse. Originality/value The study contributed to theory building by integrating three theories, emphasizing effective communication and collaboration among influencers, organizations, and competition venues in broadcasting digital fashion within shared networks. The validation of multi-faceted Social Network Analysis was crucial for timely insights, highlighting the critical digital fashion equity in capturing consumers' attention and driving engagement and ownership of Metaverse fashion.

Joern Schlimm, Christoph Breuer

Purpose This paper explores sports consumer interest in virtual environments (VE) and Web3 activations, specifically how the level of psychological involvement, consumers' generational cohorts and previous experience with VE and Web3 activations influence consumer interest in VE and Web3 products and services related to their favorite sports team. Design/methodology/approach A survey instrument was developed and distributed online resulting in a sample size of n = 526. The survey was designed to measure consumers' psychological involvement with their favorite sports team based on the Psychological Continuum Model, and to determine respondents' interest in potential VE and Web3 activations. Finally, the survey collected demographical information and data regarding respondents' previous experience with VE and Web3 applications. Multiple regression analysis was subsequently conducted to predict the impact of (1) psychological involvement, (2) consumers' generational cohorts and (3) previous experience with VE and Web3 activations on the dependent variable consumer interest in VE and Web3 activations. Findings The regression model showed a significant impact of the independent variables on consumer interest in VE and Web3 activations with consumer involvement exerting the highest influence. Consumers' previous experience with VE and Web3 applications also seems to trigger interest, in line with the consumption capital theory. This study also suggests that younger generational cohorts are not intrinsically more attracted to VE and Web3 activations but their interest seems to depend on the type of activation. Research limitations/implications This study is intended as a first assessment of independent variables that may have an impact on sports consumer interest in VE and Web3 activations. Further research is needed to assess the impact these variables combined with other indicators may have on consumer interest, for instance by employing a Structural Equation Modelling (SEM) approach. This research included selected VE and Web3 applications comprising online games, NFTs and cryptocurrencies, to calculate a VE and Web3 Literacy Score for the purpose of this paper. However, the “umbrella term Web3” (Wang et al. , 2022) could indicate a number of additional applications not considered in this research. Future studies could examine sports consumer experience with additional Web3 activations when assessing VE and Web3 Literacy. Practical implications The results of this research imply the need for a diversification of the VE and Web3 portfolio offered by sports teams to cater to different consumer segments. Upcoming challenges for sports teams include motivating younger consumers to take an interest in Web3 activations beyond gaming. Additionally, sports teams should encourage loyal supporters in the advanced stages of the PCM who possess limited VE and Web3 experience, to engage in VE and Web3 activations through simplified offers complementing their overall fan experience. Originality/value VE and Web3 activations currently offered by sports teams are still in their early stages and data underpinning their success is scarce. This is the first study examining variables that may influence consumer interest in a sports context.

Mujahid Mohiuddin Babu, Tom Bason, Rocco Porreca, Pythagoras Petratos · 5 authors

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 mixed‐methods 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.

Aniruddha Pangarkar, Paurav Shukla

Conspicuous and inconspicuous consumption of luxury goods in a digital world: implications for advertisers this special issue focuses on the very intriguing types of luxury consumption that are shaping industry paradigms and trends, especially given the digital marketing revolution that is impacting the way luxury firms create and implement strategies to engage customers and drive sales.luxury brands communicate style, exclusivity, identity, uniqueness, superior quality, and hedonic value, all of which signal status to extended networks (Shukla and Purani 2012;Pangarkar, Patel, and Kumar 2023).While recent events, such as the CoVid-19 pandemic and the economic recession have impacted economic conditions, as per a Euromonitor international report, the luxury industry continued its impressive growth to reach USd 1.2 trillion in 2022, with a steady growth rate of around 6% (roberts 2022).according to a Kearney (2022), Chinese luxury consumers were at the forefront of this recovery, followed by US and German consumers, which led to many luxury brands such as Kering, lVMH, and Herms experiencing resurgence after a temporary setback.Most luxury brands were skeptical initially as the digital landscape started evolving and social media surge transformations were observed (Heine and Berghaus 2014).However, through being flexible and adaptive, luxury brands have employed a number of most advanced digital tools and techniques to target, attract, engage, and retain customers through digital marketing strategies and technologies such as phygital, artificial intelligence, virtual reality, augmented reality, influencer advertising, and non-fungible tokens (NFts).For instance, Gucci has created a virtual world on roblox, a popular game among young generation and also develop Gucci Vault which is an experimental online concept space that holds its NFts and other Web3 projects.Similarly, Balenciaga, made a pioneering move by unveiling their 2020 collection through a video game fashion show and dressed Fortnite game characters in the new Fall 2021 collection, which demonstrates their readiness to adopt themselves in the metaverse.against the backdrop of this digital marketing revolution, luxury advertisers need to create, adapt, and introduce innovative new strategies targeted at the various segments of luxury consumers.While luxury has long been associated with conspicuous consumption reflecting ostentatious behavior targeted at earning social recognition and signaling of wealth (Shukla 2012;Pangarkar, arora, and Shukla 2022), there are other types of consumers, such as inconspicuous consumption consumers (Berger and Ward 2010) and inconspicuous minimalism consumers (Pangarkar, Shukla, and taylor 2021) that are rapidly gaining attention, experiencing growth, and therefore warranting further exploration.in particular, the focus of such luxury consumers is on muted designs, subtle logos, discreet styles and fashions, and simple cuts, all of which signal distinction and differentiation to insiders or those in the know (Han, Nunes, and drze 2010; Pangarkar, Shukla, and taylor 2021).While luxury scholars have conducted research in these areas, it is important to explore, investigate, and analyze the impact of these different types of consumption on

Rusty A. Stough, C. Matt Graham

Purpose Access to media is more available now than ever before, both physically and digitally. This study was used to investigate the underlying personality traits that influence the decision to purchase either physical or digital books, and extend theory on access to art and provide a unique lens through which marketers can sell digital media. Design/methodology/approach Study 1 is a field study in which data were collected from several comic book readers and collectors to look at the role that psychological ownership plays in influencing the likelihood of buying physical or digital comics. Specifically, study 1 includes consumers' need for uniqueness and tech savviness as potential influencers. Study 2 extends the findings of study into a new context and manipulates, rather than measures, the identity of the participants. Study 2 looks at the effects of turning a digital object into a non-fungible token (NFT). Findings This paper demonstrates that consumers who have a high consumer need for uniqueness (CNFU) are more likely to prefer physical media to digital media. Further, it is shown that preference for physical media leads, on average, to more purchases and that the consumer's psychological ownership mediates the effects of CNFU. In addition, this paper shows that higher degrees of tech savviness led to a preference for digital media. Finally, this paper shows that when consumers identify with a collector identity, turning a digital item into an NFT increases their preference for that object. Originality/value This work builds off recent research into physical and digital media and is one of the first to examine the specific personality types that prefer each.

Katsy J. Lin, Huiyue Ye, Rob Law

No abstract is available for this record.

Ali Dalgıç, Emre Yaşar, Ayşegül DEMİRCİOĞLU

This study investigates the effect of egoistic and altruistic value orientations on behavioural intentions, and the mediating effect of attitude on the effects of these two value orientations, in relation to (non-fungible tokens) Non-fungible tokens (NFTs). Hotels in Turkey that offer NFTs to their customers as a marketing strategy tool were asked to evaluate the values, attitudes, and behavioural intentions of individuals who watch online broadcasts and know about NFTs. The participants were selected by convenience sampling and the data collected via an online questionnaire form. Of the 454 questionnaires were obtained, 406 were used to test the study’s hypotheses, following sling analysis and multiple normal distribution analysis. The results showed that egoistic and altruistic values have positive effects on attitude and behavioural intention while attitude also has a positive effect on behavioural intention. Finally, attitude partially mediates the effect of egoistic and altruistic values on behavioural intention. These findings suggest that hotels can increase their customers’ intention to prefer them through using NFTs as a marketing strategy tool.

V. Krishna Prasad, Meta Dev Prasad Murthy, Joshy Joseph, Atanu Adhikari

Abstract This pioneering study wishes to advance our knowledge regarding consumers' motivating, inhibiting, and trust factors influencing their purchase of non‐fungible tokens (NFTs). Employing an extended valence framework (EVF), the authors investigate the role of the marketplace trust, marketplace reputation, and perceived regulatory support in addition to the benefits and risks of the new NFT technology; in eliciting a purchase intention for NFTs. A survey of 358 NFT enthusiasts is conducted to empirically test the EVF using the structural equation modeling (SEM) technique (study 1). Further, an experimental inquiry using a 3 × 3 between‐subjects design (study 2) is performed on actual NFT consumers to investigate the relative effectiveness of the focused benefits (value appreciation vs. exclusivity vs. enjoyment) and the brand extension (original product vs. near‐extension product vs. far‐extension product) in leading to positive outcomes like purchase intention and the price willing to pay for the NFTs. In addition to suggesting a comprehensive and useful framework for examining the psychological determinants of an individual's purchase intention for NFTs (study 1), the study 2 outcomes contribute significantly to future scholars and marketers by guiding them in designing effective benefits message appeals to the buyers in promoting their NFTs for original as well as brand extension products. The results recommend that NFT marketers focus on the exclusivity benefits of the NFTs for higher willingness to pay among the users while signaling value appreciation benefits shall evoke the highest purchase intention among the three benefit message appeals.

Quan Xie, Sidharth Muralidharan

Purpose Non-fungible tokens (NFTs) are gaining popularity as investments and personal indulgences, prompting brands to integrate them into marketing campaigns. Thus, understanding consumer personality traits toward NFTs is essential for success. This study presents a model that explores how social comparison orientation (SCO) influences perceived exclusivity and financial benefits of NFT marketing, subsequently impacting experiential evaluations, willingness to purchase NFTs and brand loyalty. Design/methodology/approach We conducted two experiments to test our model. Study 1 used a quasi-experiment with 1,053 participants and tested the model using partial least squares–based structural equation modeling. In Study 2, we aimed to investigate the causal influence of SCO on NFT marketing effectiveness. We employed a one-factor experiment (social comparison prime: high SCO vs. control) with 123 participants. Findings NFT users frequently engage in social comparisons and prefer branded NFTs that offer exclusivity (social value) and financial benefits (economic value). Social and financial superiority derived from NFTs enhances branded NFT experiences, leading to a stronger willingness to purchase NFTs and building brand loyalty. Perceived exclusivity, financial benefits and experiential evaluation mediate the effects of SCO on willingness to purchase NFTs and brand loyalty. Originality/value This study explores the effectiveness of NFT marketing through the lens of social comparison theory. In doing so, we examined the relationship between SCO and NFT marketing outcomes, revealed the causal influence of SCO on perceived exclusivity and perceived benefits in NFT marketing and shed light on the serial mediation of value- and experience-related constructs.

Tuba Yılmaz, Sofie Sagfossen, Carlos Velasco

No abstract is available for this record.

Eunyoung Sung, Ohbyung Kwon, Kwonsang Sohn

Abstract Industry 4.0 technology enables luxury fashion brands in the virtual market to quantify the value of digital items in the metaverse; thus, brands can maintain their reputations, ensure consistent and integrated luxury brand marketing, and attract new consumers in the virtual market. Understanding consumer behavior toward buying digital assets (i.e., nonfungible tokens [NFTs]) is important. By using blockchain‐based NFTs as a way to verify the authenticity of digital assets in the virtual market, luxury brands can maintain their reputations and help consumers protect their digital assets. Thus, developing global marketing strategies supported by this technology is important for the success of luxury fashion brands in the metaverse. We conducted analyses to explore consumer behavior in the metaverse with regard to blockchain‐based luxury NFTs. The findings reveal the psychological evaluation process as a mechanism that drives consumer behavior toward NFT luxury brand fashion items in global virtual markets. The empirical findings also extend the application of game theory and prospect theory by revealing the psychological evaluation of risks associated with (not) buying luxury fashion NFTs as another mechanism driving consumer behavior in the metaverse.

Sebastiano Mereu

This chapter examines characteristics of non-fungible tokens (NFTs) and factors of perceived consumer value that influence the intention to purchase NFT sports collectibles. It further offers recommendations through which NFT experiences can be enhanced for collectors. The role of NFT sports collectibles is introduced in the context of the internet of things and internet of value before defining NFT characteristics and consumer value factors relevant to this study. The respective conceptual model is then analyzed and discussed. The main findings explain that NFT characteristics including scarcity, uniqueness, aesthetics, and functional utility have no direct effect on the purchase intention for NFT sports collectibles. However, they have a significant and positive influence on the purchase intention when mediated through consumer values like the enjoyment of collecting NFTs, the creativity stimulated from assembling a digital collection, and the social relationships that can be fostered with other collectors.

Eva Andrea Meyer, Philipp Sandner, Bernard Cloutier, Isabell M. Welpe

No abstract is available for this record.

Hua Liu, Ruili Ma, Guangyao He, Abdesslam Lamrabet · 5 authors

No abstract is available for this record.