Competency or investment? The impact of NFT design features on product performance

【Author】 Wang, Yanxin; An, Jingzhao; Zhao, Xi; Lu, Xiaoni

【Source】DECISION SUPPORT SYSTEMS

【影响因子】6.969

【Abstract】This study investigates how NFT design features affect project performance. From the consumption perspective, NFT design features are divided into competency-related (image complexity, consistency) and investment-related (initial price, royalty). Using transaction data of 3297 NFT projects, we find that image complexity has an inverted U-shaped effect on long-term performance, while consistency boosts both short-term and long-term performance by formulating brand symbolism. Royalty as investment cost negatively affects short-term performance, while royalty and initial price exhibit inverted U-shaped impacts on long-term performance due to their mixed roles of costs and quality signals. Market uncertainty amplifies the impacts of complexity and royalties while diminishing the initial price impact in the long term. Findings support NFT project design, enhancing Web3 consumer behavior understandings.

【Keywords】Blockchain; Non-fungible tokens; Product design; Product performance; Web3

【发表时间】2024 DEC

【收录时间】2024-10-10

【文献类型】实证数据

【主题类别】

区块链应用-虚拟经济-NFT