Adrian Micu, Alexandru Căpățînă, Mihaela Muntean, Mihaela Muntean · 6 authors
This paper explores the matchmaking between augmented reality (AR) and Web3 technologies within the context of ecotourism, providing a bibliometric analysis of the research landscape to understand how these digital innovations are empowering sustainable tourism practices.Using data from the Web of Science Core Collection, we conducted a targeted search that provided the key themes and clusters for the research.The findings reveal four primary clusters: AR and Metaverse in immersive tourism experiences, decentralization and security in community-driven tourism management, AI-enhanced AR for ecotourists' engagement, and blockchain outcomes for ecotourism initiatives.This study contributes to the literature by clarifying the roles of AR and Web3 in promoting responsible tourism, fostering trust, and empowering local communities through decentralized models.
The non-fungible token (NFT) issue motivates this research as it presents a great opportunity for talented creators to support creative businesses in Indonesia, increase art's exposure to local and international markets, and earn royalties for their works of art. This research focuses on how a non-fungible token (NFT) digital object can be sold out and what strategy is used to sell the NFT? using a cyberphenomenology approach. Informant criteria: The informant must have sold NFTs at least three times themselves. Have a minimum of 1000 followers on social media and one year of experience. The focus areas for online media research include Facebook, Instagram, and the Indonesian NFT community. We collected the data through in-depth media interviews, direct observation of social media, and manual data analysis procedures, which involved triangulating sources and theories. The findings indicate that the NFT marketing strategy involves SFS, consistent promotion, regular product posting, Twitter retweets, targeting a specific market, and celebrity endorsement. The price of a resale product is typically higher than its original price. NFT products are animations. GIFs are difficult to steal. Products are animated GIFs. Marketplace (Opensea): NFTs are a source of income. Direct transfers of NFTs are possible without the need for purchase transactions. Cryptocurrency: Smart Contract System: Low Crypto Prices NFTs will end.
Cryptocurrencies have become one of the most disruptive financial innovations, attracting widespread interest worldwide. Despite their growing popularity, the risks associated with the use of cryptocurrencies remain a significant barrier to their adoption. Therefore, this paper examines the impact of perceived risks on international students’ cryptocurrency investment behavior. Results indicate that financial and regulatory risks are major barriers, while operational risks are less influential. Interestingly, security risks positively influence investment when perceived rewards or risk management capabilities are considered. Risk tolerance and cryptocurrency knowledge are strong positive predictors, highlighting the role of financial education in fostering adoption. The results suggest the implementation of specific policies that address perceived risk factors and improve financial literacy among younger generations of investors to support informed and responsible participation in cryptocurrency markets. Keywords: Cryptocurrency Investments, Perceived Risks, Investments Behavior.
Jaroslava Gburová, Daniela MatuÅ¡Ãková, 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.
Open access
Digital Marketing and Social Media
Consumer Behavior in Brand Consumption and Identification
Daniela MatuÅ¡Ãková, Jaroslava Gburová, Andrea Vadkertiová
This study examines consumer attitudes toward cryptocurrencies in Slovakia, focusing on the perceived adequacy of their promotion and the influence of demographic factors such as education, gender, and age. The findings reveal that a significant majority of respondents view cryptocurrency promotion as insufficient, with 77.77% expressing dissatisfaction. Demographic factors were found to have minimal impact on attitudes, suggesting that universal barriers—such as trust, technological literacy, and perceived risks—play a more critical role. Social media emerged as a key platform for engaging consumers, particularly younger demographics, provided that campaigns are well-targeted and informative. These results highlight the need for innovative promotional strategies emphasizing transparency, education, and trust-building to bridge the gap between cryptocurrencies and broader consumer adoption. The study contributes to the growing literature on cryptocurrency marketing by providing actionable insights for addressing challenges in emerging markets like Slovakia.
One of the primary uses of blockchain technology is cryptocurrencies, which have grown significantly in popularity in recent years due to investors looking for alternatives to traditional currencies for value storage or speculation. But not every investor makes big financial commitments or does so for the same reasons. However, it appears that peer pressure and word-of-mouth are significant factors in the adoption of cryptocurrencies. This empirical study focuses on the factors that affect the adoption of cryptocurrencies from prospective investors. The study employs qualitative methodology and semi-structured interviews with investors from EU and UK that have digitally advanced economies when it comes to payment mediums. Purposive sampling was used to choose participants who were interviewed via video conference. Data analysis was done using grounded theory technique in conjunction with thematic analysis. Two dimensions can summarize the main findings. According to the first dimension, the perceived return on investment has a major role in influencing the adoption of cryptocurrencies, and the second dimension refers to peer and friend influence as a powerful effect. The present study contributes to the existing body of research and sets the stage for further quantitative investigation as policymakers can use the empirical findings to understand public perceptions of cryptocurrencies and safeguard investors with appropriate regulatory actions.
Memecoins, driven by social media engagement and cultural narratives, have rapidly grown within the Web3 ecosystem. Unlike traditional cryptocurrencies, they are shaped by humor, memes, and community sentiment. This paper introduces the Coin-Meme dataset, an open-source collection of visual, textual, community, and financial data from the Pump.fun platform on the Solana blockchain. We also propose a multimodal framework to analyze memecoins, uncovering patterns in cultural themes, community interaction, and financial behavior. Through clustering, sentiment analysis, and word cloud visualizations, we identify distinct thematic groups centered on humor, animals, and political satire. Additionally, we provide financial insights by analyzing metrics such as Market Entry Time and Market Capitalization, offering a comprehensive view of memecoins as both cultural artifacts and financial instruments within Web3. The Coin-Meme dataset is publicly available at https://github.com/hwlongCUHK/Coin-Meme.git.
The purpose of this critical reflection is to investigate blockchain technology and its ability to unleash the Internet of Value (IoV) throughout the hospitality and travel sectors through the five realms of the emerging financial technologies and economies, which are cryptocurrencies, decentralized finance, metaverse, non-fungible token, central bank digital currency. Thus, in evolving electronic markets across the hospitality and tourism industry the blockchain technology could unleash the IoV. Nevertheless, certain challenges of blockchain technology such as its applications, privacy, legal frameworks, and environmental impact have to be discussed as all of these facets are critically important in order to optimize the benefits of cutting-edge technology. With the rising opportunities across the IoV, the hospitality and tourism businesses can improve and advance the hospitality and tourism operations by utilizing blockchain technology.
Kilian Schmück, Magnus Schückes, Tobias Gutmann, Oliver Gassmann
Business model literature, while insightful, primarily focuses on the Internet and Web 2.0 contexts. The emergence of pioneering digital technologies, especially the Web3 anchored by blockchain, necessitates reevaluating business model paradigms, particularly those of platform business models within related ecosystems. This study delves into blockchain's unique affordances, investigating how they mold novel Web3 business model patterns and integrate into specific platform ecosystems. We scrutinize the characteristics, trajectories, and synergies of value creation and capture. Using a mixed-methods approach involving 171 interviews and a subsequent sample of 126 Web3 ventures, we delineate a taxonomy of Web3 business model dimensions, clustering emergent decentralized platform ecosystems into pertinent archetypes. Our theoretical model delineates how blockchain affordances influence these configurations, emphasizing the dynamic between a platform's nucleus and its fringes. We highlight Web3 platform design choices leaning towards data sovereignty, emphasizing how the degree of blockchain integration within platform governance—leading to information symmetry and platform disintermediation—transitions digital trust to what we term as digital truth . • Blockchain-based platforms enable new decentralized governance structures in platform ecosystems. • Two distinct Decentralized platform archetypes are identified: Federated and Web3 platform ecosystems. • Platform-inherent token is crucial for incentivization and coordination schemes in fully decentralized platform ecosystems. • Blockchain affordances offer innovative pathways for overcoming B2B platform challenges. • Our study provides managerial insights for designing blockchain-based platform strategies.
This study investigated the role of trust(TR)in mediating the impact of electronic word of mouth (EW) and security(SE)on cryptocurrency purchase decisions(PD). A cross-sectional survey design was employed, and data were collected through 330 distributed questionnaires, of which 320 valid responses were retained after validation steps that included confirming prior cryptocurrency usage. The sample consisted of active cryptocurrency users in Indonesia, aiming to explore the relationships between EW, SE, attitudes(AT), perceived behavioral control(PB), TR, and PD. Structural equation modeling was used to analyze the data and test the hypothesized relationships. The findings highlighted that TRsignificantly mediated the effects of both EWand SEon PD, underscoring TRas a crucial factor in the cryptocurrency market. Additionally, the study revealed that PBplayed a significant role, particularly in mediating the relationship between SEand PD, suggesting that consumers' confidence in managing transactions greatly influences their purchasing behavior. The results contribute to the literature by validating an integrated model that combines key factors influencing cryptocurrency PDand extending the Theory of Planned Behavior by incorporating EWand SEas antecedents. The study provides practical implications for cryptocurrency platforms and marketers, emphasizing the need forrobust security measures, positive EWmanagement, and user-friendly interfaces to foster TRand enhance consumer engagement in the cryptocurrency market.
With the continuous updating and reform of digitization and blockchain technology, digital currency and digital assets are getting more and more attention from the public, and their research is widely used in the field of technology and finance, and gradually extended to the field of management. In recent three years, NFT (Non-Fungible Token), as an emerging product based on blockchain technology, has made a name for itself in the international field of vision, and in domestic incarnation of a more localized concept of digital collectibles known to consumers, and at one time, there was a burst of fire within the public figures. However, due to its rapid development and dissemination, the theoretical level of the research lag is obvious, most of the domestic exploration of NFT digital collectibles are still in the legal level and the artistic level of the basic definition, for the practical significance of its has in the field of commercial marketing is not fully in-depth, as a strong correlation with the brand as a product of the impact of the mechanism has not yet been elucidated. Therefore, this paper proposes the effect of NFT digital collection attributes on brand co-creation in the field of branding, introducing perceived value as a mediator variable and brand attitude as a moderating variable, in order to explore its clear inner mechanism path.
George Bogdan Drăgan, Wissal Ben Arfi, Victor Tiberius, Aymen Ammari · 5 authors
This study fills a void in the literature on the intention to invest in sustainable cryptocurrency. It examines the behavioral antecedents of individuals' decision making in this expanding financial industry. A mixed-methods approach that combines partial least squares structural equation modeling (PLS-SEM) and fuzzy-set qualitative comparative analysis (fsQCA) is used to gain an understanding of the factors that lead to acceptance of sustainable cryptocurrencies and the obstacles to investing in them. This study is valuable for investors, policymakers, and managers in the digital currency business, providing practical insights and strategic implications. The study's findings underscore the relevance of regulatory frameworks and government assistance in fostering the adoption of sustainable cryptocurrencies. The study emphasizes the importance of customer trust and sustainability in influencing the adoption of sustainable cryptocurrencies. It advances the theory of sustainable finance, technology adoption, and behavioral economics. The study's limitations and recommendations for future research offer a path to further the understanding of this developing topic. • This study uses PLS-SEM and fsQCA to analyze factors influencing sustainable cryptocurrency investments comprehensively. • PU, PEU, and PT significantly predict attitudes and behavioral intentions toward investing in sustainable cryptocurrencies. • The study shows ECS and SOS shape positive attitudes, while ENVS needs more awareness to become a key driver for investors. • The findings guide policymakers to improve regulations, highlight sustainable crypto benefits, and address concerns for wider adoption.
China’s digital collectibles utilize blockchain technology to create unique digital certificates for specific works and artworks that consumers can purchase, collect, and use. Digital collectibles are localized Chinese digital products, similar to non-fungible token (NFT), but with differences. This study explores the influencing factors and mechanisms of consumer purchase in digital collectibles. Our study developed a research model based on the Stimulus-Organism-Response (SOR) paradigm and the integration of perceived value theory and social identity theory. We used a questionnaire survey method and obtained 333 valid samples. Then, we used PLS-SEM to test the model. The empirical results are as follows: (1) Our study constructs and validates a multidimensional structure of perceived value and perceived risk; (2) consumers’ perceived value influences their purchase intentions through the mediating roles of consumer-digital collectibles cognitive identification and affective identification; (3) both supply-based scarcity and demand-based scarcity have a positive moderating effect on the relationship between cognitive identification and purchase intention. Our study reveals the pathway mechanism of the purchase intention and demonstrates the moderating roles of supply-based and demand-based scarcity. In addition, our study can provide practical suggestions for platforms and industries to conduct marketing activities and avoid risk.
Ken Huang, Youwei Yang, Fan Zhang, Xi Chen · 5 authors
Chapter 1 provides an overview of the concepts and definitions inherent to Web3. It presents a deep exploration into the phenomenon of "Convergence of Convergence," a term coined to denote the convergence of various dimensions within Web3, such as technology, data, user interactions, business models, identity, and organizational structures. The chapter also offers a comparative study of Web3 from different perspectives – tracing its evolution in the Internet era, analyzing its implications for user experience, evaluating its regulatory aspects, and understanding its scalability. Each of these aspects is explored in a detailed, standalone section, allowing readers to comprehend the multifaceted nature of Web3. The overarching aim of this chapter is to foster a comprehensive understanding of Web3, delineating its significance as a major shift in the Internet paradigm and its potential for creating more decentralized, user-empowered digital ecosystems.
This study explored the role of NFTs (Non-Fungible Tokens) in digital marketing and content monetization within Iringa Municipal, Tanzania. It assessed the level of awareness and understanding of NFTs among local businesses and individuals, explored the potential applications of NFTs in digital marketing, and evaluated the benefits and challenges associated with their use. Using a sample size of 100 participants, the study revealed moderate familiarity with NFTs but highlighted significant interest in their application across industries like digital art, music, and brand marketing. Although NFTs offer promising opportunities for revenue generation, enhanced ownership, and transparency, challenges related to scalability, volatility, and regulatory uncertainties were significant. The findings suggest that while NFTs hold transformative potential in digital marketing, a focused approach on education, technological infrastructure, and regulatory clarity is needed to fully harness their benefits.
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.
Consumer Behavior in Brand Consumption and Identification
Cong Doanh Duong, Thi Van Hoa Tran, Thanh Hieu Nguyen, Thi Viet Nga Ngo · 5 authors
Blockchain technology is increasingly recognized as a transformative tool for enhancing clarity and responsibility in the organic food supply chain , where concerns about product authenticity and safety are paramount. By offering provable and translucent information about the origination , production processes, and administration of organic items, blockchain helps to reduce information asymmetry and builds consumer trust, which is critical for purchase decisions in the organic food market. Drawing on insights from the trust theory and the stimulus-organism-response framework, this study uses a moderated mediation model to explore how technology anxiety negatively moderates the direct and indirect influences of blockchain-based food traceability systems on trust in organic food products and organic food purchase intention. Using a targeted sample of 5326 consumers in Vietnam, the PROCESS macro approach (models 8 and 4) is utilized to examine the formulated hypotheses. The results demonstrate that blockchain-based food traceability systems notably enhance consumer trust in organic food products and their intention to buy these products. Trust in organic food products serves as a mediator in the connection between blockchain-based traceability and purchase intention, while technology anxiety weakens the positive impacts of blockchain technology on trust and purchase intention when anxiety levels are high. This research makes crucial contributions to the literature by offering a mechanism-based explanation of how blockchain technology enhances consumer trust in organic food products and integrates technological anxiety as a moderator, providing a deeper understanding of how technological innovations shape consumer behavior. In light of the findings, several critical recommendations have been proposed for practitioners and policymakers.
The cryptocurrency market, known for its volatility and rapid growth, is influenced by various actors, including investors, speculators, and volunteers. Investors and speculators often seek short-term profits, sometimes disregarding the long-term fundamentals of projects, leading to significant market instability and reputational damage. Conversely, volunteers contribute consistently to the development, governance, and sustainability of crypto projects, focusing on long-term value creation. This paper examines the contrasting roles of these groups and provides real-world examples where speculators and investors have caused harm to the market, while volunteers have played a vital role in building and preserving value.
Social networks have made a revolution in the way how people connect, communicate and share information with each other by leveraging the Internet as the platform. Social networks are open platforms where users can enjoy their freedom of expression to the maximum for posting anything online. Except for a few occasions, censorship play minimum or no role in the social media networks. Hence, it is the responsibility of the reader to identify and choose the content that is suitable for him to read or repost. Some researchers have created mechanisms for evaluating the contents posted. But, presently there is no mechanism for rating users based on the type of material they post online. In this research, a blockchain powered mechanism is proposed for rating users based on the comments received for their posts. The proposed mechanism leverages the advantages of blockchain including transparency, immutability, traceability and security. The proposed mechanism rewards users for their good behavior using non-fungible tokens and revoking them for misbehavior. The proposed mechanism has been tested using publicly available data and a set of students in a simulated environment. The evaluation results are promising as it can identify users who continuously post good or malicious contents online and rank them accordingly.
Cong Doanh Duong, Thanh Hieu Nguyen, Thi Viet Nga Ngo, Tung Dao Thanh · 5 authors
Purpose While the application of blockchain technology in the organic food supply chain has been increasingly recognized, the extant knowledge of how blockchain-driven traceability influences consumer perceptions and purchase intentions remains underexplored. Grounded in the stimulus-organism-response theory, this study aims to construct a moderated mediation model to examine blockchain-enabled traceability’s direct and indirect impacts on organic food purchase intention through perceived blockchain-related information transparency, considering the moderating role of blockchain-based trust. Design/methodology/approach A purposive sample of 5,326 Vietnamese consumers was surveyed using the PROCESS macro to test the proposed hypotheses. Findings The findings indicate that blockchain-enabled traceability significantly enhances perceived blockchain-related information transparency, which positively influences organic food purchase intention. Furthermore, blockchain-based trust was found to positively moderate both the direct effect of transparency on purchase intention and the indirect impact of traceability on purchase intention through transparency. Practical implications Practical and managerial insights for stakeholders in the organic food sector are also discussed. Originality/value These results contribute to the literature by extending the stimulus-organism-response model to the context of blockchain technology in supply chains and highlighting the critical role of trust in moderating the effectiveness of technological innovations.