IBT publishes first paper on non-fungible tokens (NFTs) in marketing, thus introducing the broader field of “crypto-marketing”
How do non-fungible tokens (NFTs) challenge traditional marketing? New IBT research outlines three major areas in marketing that will be affected by the introduction of NFTs: (1) digital ownership, uniqueness, and value; (2) authenticity, status, and sharing; and (3) branding and distribution.
The paper proposes a set of preliminary research questions rooted in these areas, in hopes of offering entry points to future programmatic investigation of the broader field of “crypto-marketing.” This emerging subdiscipline offers opportunities to expand our understanding of consumer behavior, pricing, and product design and may be crucial in predicting the future of our discipline as NFTs further evolve.
The paper is forthcoming at Marketing Letters and co-authored by Emanuel de Bellis and colleagues from the University of Lucerne, Columbia Business School, and The Wharton School.
Access to the paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4055610