This book focuses on the relevance of non-fungible token-based products in the current hyper-digitalized and hyper-connected world. Connecting the new NFTs’ technologies with academic literature on marketing, the authors highlight future research streams as well as strategies and factors that marketers and managers can use to promote this new type of product. Starting with an overview of the nature and increasing importance of NFTs in marketing, the authors extensively examine the blockchain technology that underlies this new innovation along with its applications. Specifically, by reviewing the existing literature on NFTs, the authors explain the emerging topics and business opportunities offered by NFTs for intellectual property protection, development of new lifestyles, and forms of entertainment. The second part of the book investigates NFTs in three different contexts: art, music, and fashion. By exploring the key behavioral variables that underlie consumers’ intentions to purchase NFT-based products (i.e., materialism, status consumption orientation, innovativeness), the authors discuss the various implications for advertising and marketing strategies in such industries. Offering a state-of-the-art look at this new technology, this book presents a guide for scholars and anyone looking for an understanding of NFTs and the opportunities they present.
Author(s): Andrea Sestino, Gianluigi Guido, Alessandro M. Peluso
Edition: 1
Publisher: Palgrave Macmillan
Year: 2022
Language: English
Commentary: TruePDF
Pages: 109
Tags: Marketing; Innovation And Technology Management; NFTs (Tokens); Electronic Commerce; Cryptocurrencies
Foreword
Acknowledgments
Contents
About the Authors
List of Figures
List of Tables
Chapter 1: Introduction
1 The Phenomenon of Non-Fungible Tokens (NFTs)
2 NFTs and the Consumer’s Extended Self
References
Chapter 2: The Concept and Technicalities of NFTs
1 Definition of Non-Fungible Tokens (NFTs) and Their Value
1.1 The Origin of NFTs and Their Characteristics
1.2 The NFTs’ Creation Process
2 Blockchain: The Technology Behind NFTs
References
Chapter 3: A Review of the Marketing Literature on NFTs
1 A Systematic Approach
2 Main Topics and Business Opportunities
2.1 Intellectual Property
2.1.1 Digital Artworks
2.1.2 Academia
2.1.3 Memes and Viral Contents on the Web
2.2 Lifestyles
2.2.1 Sports and Leisure Time
2.2.2 Fashion
2.2.3 Virtual World
2.3 Entertainment
2.3.1 Music and Films
2.3.2 Videogames
2.3.3 Pornography and Other “Embarrassing Products”
3 Three Empirical Studies on Art, Music, and Fashion
References
Chapter 4: How Materialism Influences the Purchase of NFT-Based Artworks
1 Introduction
2 Theoretical Background
3 Methodology
4 Results
4.1 Sample Description
4.2 Descriptive and Reliability Statistics
4.3 Hypothesis Testing
5 Discussion and Implications
References
Chapter 5: The Roles of Materialism and Status Consumption Orientation in the Purchase of NFT-Based Music Compilations
1 Introduction
2 Theoretical Background
3 Methodology
4 Results
4.1 Sample Description
4.2 Descriptive and Reliability Statistics
4.3 Hypothesis Testing
5 Discussions and Implications
References
Chapter 6: The Interplay of Consumer Innovativeness and Status Consumption Orientation When Buying NFT-Based Fashion Products
1 Introduction
2 Theoretical Background
3 Methodology
4 Results
4.1 Sample Description
4.2 Descriptive and Reliability Statistics
4.3 Hypothesis Testing
5 Discussion and Implications
References
Chapter 7: Conclusions
1 When Consumption Goes Beyond Material Possessions
2 In Summary
References
References
Index
