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NFT marketing: How marketers can use nonfungible tokens in their campaigns

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  • Chohan, Raeesah
  • Paschen, Jeannette

Abstract

Nonfungible tokens (NFTs) are a record of ownership of primarily digital media, where the NFT is stored on a blockchain. According to the 2021 Gartner Hype Cycle for Key Technologies, NFTs may significantly transform marketing functions. Marketing managers wishing to adopt NFTs therefore need to know something about the marketing implications. This article explains NFTs in broad terms and discusses the marketing implications using a modified AIDA hierarchy. These implications can give marketing managers and executives guidelines on how to persuade consumers to purchase NFTs owing to their unique characteristics, such as scarcity, nonfungibility, proven authenticity, proof of ownership, royalties, and direct distribution infrastructure.

Suggested Citation

  • Chohan, Raeesah & Paschen, Jeannette, 2023. "NFT marketing: How marketers can use nonfungible tokens in their campaigns," Business Horizons, Elsevier, vol. 66(1), pages 43-50.
    • Handle: RePEc:eee:bushor:v:66:y:2023:i:1:p:43-50
    DOI: 10.1016/j.bushor.2021.12.004
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    Cited by:

    1. Wolfgang Breuer & Jannis Bischof & Christian Hofmann & Jochen Hundsdoerfer & Hans-Ulrich Küpper & Marko Sarstedt & Philipp Schreck & Tim Weitzel & Peter Witt, 2023. "Recent developments in Business Economics," Journal of Business Economics, Springer, vol. 93(6), pages 989-1013, August.
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    3. Raeesah Chohan & Ellen Schmidt-Devlin, 2024. "Sports fandom in the metaverse: marketing implications and research agenda," Marketing Letters, Springer, vol. 35(1), pages 1-14, March.

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