How Consumers’ Awareness of Digital Artworks Affects Their Willingness to Purchase - An Example from the OpenSea NFT Art Manufacturing Platform

Ruicong Ma ()
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Ruicong Ma: UNSW Sydney, Master of Curating and Cultural Leadership

A chapter in Proceedings of the 2025 7th International Conference on Economic Management and Cultural Industry (ICEMCI 2025), 2025, pp 785-791 from Springer

Abstract: Abstract This research aims to explore the impact of consumer awareness on their purchase intention in the non-fungible token (NFT) art market and focuses on the OpenSea platform. Through methods of qualitative analysis and case studies, the research examines how factors such as uncertainty in the law, ethical considerations, and digital literacy influence consumer behaviour. The analysis shows that there is a positive correlation between increased awareness of NFT functionality and an increased willingness to purchase digital art. The study also highlights the importance of consumer education, the resolution of legal and ethical issues, and the development of consumer confidence. The study discusses the impact of NFTs on artists, collectors and market regulators, as well as the need for clear guidelines and visibility in the rapidly developing NFT market, which will cultivate a more engaged and informed consumer group.

Keywords: Consumer awareness; purchasing intentions; non-fungible tokens (NFTs); OpenSea; legal uncertainties; ethical considerations; digital literacy; consumer behavior; educational initiatives (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-888-2_77

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DOI: 10.2991/978-94-6463-888-2_77

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