Article2024

The use of non-fungible tokens (NFTs) as promotional devices to build brands: An application of lovemark theory

Minjung Cho · Eunju Ko · Charles Ray Taylor

24 citations0/0 files storedJournal of Global Fashion Marketing

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Consumer Behavior in Brand Consumption and Identification Marketing and Advertising Strategies Digital Marketing and Social Media

Abstract

Luxury brand managers are paying attention to utilizing non-fungible tokens (NFTs) as promotional tools, yet there has been limited study on the topic. To help address this gap, this study explores the impact of the cognitive and affective aspects of the use of NFTs as promotional devices on consumer behavior. A survey is conducted to explore aspects of NFTs that make them effective in as promotional tools. This study reveals four key attributes associated with NFT promotional efforts, namely, scarcity, authenticity, resaleability, and trendiness. Moreover, drawing on lovemark theory, the study finds a significant effect of NFTs electronic word of mouth generation and brand purchase intention. The empirical findings can aid both academics and practitioners in the management of digital marketing activities via NFTs.

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References

1990Structural Model Evaluation and Modification: An Interval Estimation Approach 2005The Ties That Bind: Measuring the Strength of Consumers’ Emotional Attachments to Brands 2011Do social media marketing activities enhance customer equity? An empirical study of luxury fashion brand 2011Determinants of consumer engagement in electronic word-of-mouth (eWOM) in social networking sites 2011Introducing COBRAs 2017What is a luxury brand? A new definition and review of the literature 2021Is non-fungible token pricing driven by cryptocurrencies?2004Lovemarks: The Future Beyond Brands

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2025Implications of NFT as a sustainable fintech innovation for sustainable development and entrepreneurship 2025Digital Luxury in the Metaverse: How Non‐fungible Tokens Shape Resistance to Negative Information and Brand Purchase Intention

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