Why do consumers buy NFTs?: Multi-path of attitude and the bandwagon effect

潮流效应 独创性 价值(数学) 结构方程建模 业务 数字加密货币 数字化 营销 情感(语言学) 计算机科学 心理学 计算机安全 社会心理学 机器学习 沟通 计算机视觉 创造力
作者
Wai Ling Lee,Moon‐Kyung Cha
出处
期刊:Asia Pacific Journal of Marketing and Logistics [Emerald Publishing Limited]
标识
DOI:10.1108/apjml-01-2023-0006
摘要

Purpose The non-fungible token (NFT) market has been multiplying in recent years. NFTs are tokens stored on a blockchain network based on smart contract technology that can be used to represent ownership of digital assets and cannot be changed like-for-like. With NFTs, all recorded digital properties can be freely traded and stored with values, making them possible to increase content transactions' privacy and security. In addition, NFTs engender new ways to organize, consume, share and store digital content. Despite the rapid growth of the NFT market, related consumer behaviors have yet to be well-known and relevant academic research results are very scarce. This study aims to explain how NFT fits with blockchain and cryptocurrency and how consumers accept it. This paper also develops a structured causal model with multiple paths to explain the antecedents and attitude variables for NFT acceptance. Design/methodology/approach The data collection was conducted from 542 young consumers in Korea via an online survey. The structural equation modeling method was used to analyze the hypotheses. Findings Attitudes toward technology and assets positively affect NFT purchase behavioral intentions. Additionally, symbolic driver affects behavioral intention directly. Originality/value The results expanded the understanding of the NFT market and consumers, which are still in their early stages. They also provide valuable insights for establishing future market strategies for NFT.
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