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Paper Type

ERF

Paper Number

1409

Description

The growing popularity of nonfungible tokens (NFTs) has created a new digital collectibles asset class and market. NFTs are unique digital tokens built on blockchain technology that can represent anything from art, property rights, certificates of authentication to sports collectibles. The use of the blockchain provides the framework for digital ownership and brings the notion of scarcity to the digital NFT asset class. With the emerging NFT market and growing consumer base little work has investigated the motivations behind NFT purchases. Thus, in this exploratory study we plan to analyze purchase motivation factors of NFTs by reviewing tweets made on Twitter regarding NBA TopShot. NBA TopShot is one of the largest and most popular NFT platforms for sports collectibles. This research is one of the first to examine the factors explaining NFT purchase motivations and could provide early insights for practitioners and academics interested in exploring NFTs.

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Aug 10th, 12:00 AM

Understanding Non-Fungible Token (NFT) Purchase Motivations

The growing popularity of nonfungible tokens (NFTs) has created a new digital collectibles asset class and market. NFTs are unique digital tokens built on blockchain technology that can represent anything from art, property rights, certificates of authentication to sports collectibles. The use of the blockchain provides the framework for digital ownership and brings the notion of scarcity to the digital NFT asset class. With the emerging NFT market and growing consumer base little work has investigated the motivations behind NFT purchases. Thus, in this exploratory study we plan to analyze purchase motivation factors of NFTs by reviewing tweets made on Twitter regarding NBA TopShot. NBA TopShot is one of the largest and most popular NFT platforms for sports collectibles. This research is one of the first to examine the factors explaining NFT purchase motivations and could provide early insights for practitioners and academics interested in exploring NFTs.

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