Understanding non-fungible tokens (NFTs): insights on consumption practices and a research agenda

Rami Alkhudary (rami.alkhudary@u-paris2.fr), Bertrand Belvaux (bertrand.belvaux@u-bourgogne.fr) and Nathalie Guibert (nathalie.guibert@u-paris2.fr)
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Rami Alkhudary: LARGEPA - Laboratoire de recherche en sciences de gestion Panthéon-Assas - Université Paris-Panthéon-Assas
Bertrand Belvaux: CREGO - Centre de Recherche en Gestion des Organisations - Université de Haute-Alsace (UHA) - Université de Haute-Alsace (UHA) Mulhouse - Colmar - UB - Université de Bourgogne - UBFC - Université Bourgogne Franche-Comté [COMUE] - UFC - Université de Franche-Comté - UBFC - Université Bourgogne Franche-Comté [COMUE]
Nathalie Guibert: LARGEPA - Laboratoire de recherche en sciences de gestion Panthéon-Assas - Université Paris-Panthéon-Assas

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Abstract: Non-fungible tokens (NFTs) have expanded beyond the cryptoart movement into the digital realm, promising a multibillion-dollar virtual ecosystem. However, marketing studies that attempt to explain this phenomenon remain nascent and even scarce. To fill this void, our research responds to a call for explicit usage of marketing theories to explain the universe of actions and the unacknowledged conditions that constitute people's behaviors when purchasing NFTs. More precisely, this research applies Holt's typology of consumption practices and provides useful insights based on empirical findings into the different ways in which NFT customers consume digital data. Moreover, we propose a research agenda to drive discussions regarding the consumption practices of and potential markets for NFTs. Our contribution extends the usage of information technology and addresses anyone working in marketing science.

Keywords: Non-fungible tokens; NFTs; Blockchain; Consumption practices (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

Published in Marketing Letters, 2023, 34, pp.321-336. ⟨10.1007/s11002-022-09655-2⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04069880

DOI: 10.1007/s11002-022-09655-2

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