Building brand engagement in metaverse commerce: The role of branded non-fungible toekns (BNFTs)

【Author】 Lee, Crystal T.; Ho, Tzu-Ya; Xie, Hong-Hao

【Source】ELECTRONIC COMMERCE RESEARCH AND APPLICATIONS

【影响因子】5.622

【Abstract】The development of the "metaverse" has created new opportunities for brands' crypto marketing and metaverse commerce. Non-fungible tokens (NFTs) are blockchain-based digital assets that behave similarly to cryptocurrencies, and many brands participate in the metaverse by developing branded NFTs (BNFTs). Given the potential of this new market, practical issues associated with it, and lack of related research, this study analyzed the attributes associated with metaverse commerce using BNFTs. We used a stimulus-organism-response (SOR) model to examine how BNFT attributes can generate positive brand outcomes using text mining and structural equation modeling. We found that BNFT attributes (i.e., scarcity, financial value, prestige, uniqueness, originality, and communication consistency) promote a favorable brand attitude, which enhances brand commitment, BNFT purchase intention, and active engagement with BNFTs. Our findings indicate that brands can engage the rapidly expanding metaverse economy and use BNFTs to build long-term customer relationships.

【Keywords】Metaverse commerce; Non-fungible token; Brand visual communication; Stimulus-organism-response; Purchase intention; Active engagement

【发表时间】2023 MAR-APR

【收录时间】2023-04-19

【文献类型】实证数据

【主题类别】

区块链应用-实体经济-营销领域