Non-Fungible Tokens (Nfts): Examining the Impact on Consumer and Marketing Strategies

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.

With a preface by Russell Belk.

Andrea Sestino is, currently, Expert Collaborator for the Cabinet of the Italian Minister of Economic Development in fields related to Artificial Intelligence, Internet-of-Things applications, and business digitalization. He is also Ph.D. Candidate in Management and Marketing at University of Bari ＂Aldo Moro＂, Italy, under the supervision of the second author.

Gianluigi Guido (Ph.D., University of Cambridge, UK) is Full Professor of Marketing at the University of Salento, Italy, where he is Director of the Ph.D. Program in Digital Transformation and Sustainability. For Palgrave Macmillan, he has been the co-author of ＂Sustainable Luxury Brands＂ (2017), with forewords by R. Bagozzi and P. Kotler.

Alessandro M. Peluso (Ph.D. in Quantitative Methods for Market Analysis) is Associate Professor of Business Management at the University of Salento, and Lecturer in Marketing at the LUISS University of Rome, Italy. He has published many research articles in top-tier peer-reviewed journals, such as Journal of Consumer Research and Journal of Marketing Research.