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Blockchain technology for creative industries: Current state and research opportunities

Author

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  • Malik, Nikhil
  • Wei, Yanhao Max
  • Appel, Gil
  • Luo, Lan

Abstract

Blockchain based NFTs (non-fungible tokens) and smart contracts provide creative industries with exciting opportunities. While they have created a great deal of frenzy in markets, in the frenzy there emerges real value for the industries. Traditionally, creators in the creative industries often need to rely on powerful intermediaries to distribute and profit from their creations. NFT and smart contracts provide creators much closer access to content consumers/buyers. Along this line of thought, this article provides marketing researchers with an overview of the unfolding adoption of NFTs and smart contracts in creative industries. We start by pointing out the market frictions and consequent “transaction costs” that creators face traditionally when distributing their creative content to consumers/buyers. Then, we present the basic ideas of smart contracts and NFTs, discussing how they can transform the market by reducing these transaction costs. Meanwhile, we point out limitations and challenges that creators, buyers, and marketplaces might face in the adoption of NFTs and smart contracts. Finally, we raise an abundance of unexplored research questions interesting to both marketing researchers and practitioners.

Suggested Citation

  • Malik, Nikhil & Wei, Yanhao Max & Appel, Gil & Luo, Lan, 2023. "Blockchain technology for creative industries: Current state and research opportunities," International Journal of Research in Marketing, Elsevier, vol. 40(1), pages 38-48.
    • Handle: RePEc:eee:ijrema:v:40:y:2023:i:1:p:38-48
    DOI: 10.1016/j.ijresmar.2022.07.004
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Brouard, Myriam, 2025. "Setting sail in a tokenized world: An exploration of the Bored Ape Yacht Club and the co-created consumer experience," International Journal of Research in Marketing, Elsevier, vol. 42(3), pages 522-535.
    2. Kumar, Aman & Shankar, Amit & Behl, Abhishek & Wamba, Samuel Fosso, 2025. "Do you believe in the metaverse NFTs? Understanding the value proposition of NFTs in the metaverse," Technological Forecasting and Social Change, Elsevier, vol. 210(C).
    3. Muneer M. Alshater & Nohade Nasrallah & Rim Khoury & Mayank Joshipura, 2025. "Deciphering the world of NFTs: a scholarly review of trends, challenges, and opportunities," Electronic Commerce Research, Springer, vol. 25(5), pages 4193-4249, October.
    4. Xie, Peiwen & Kim, Eunsoo & Lam, Shun Yin & Reza, Sadat, 2025. "Herding behavior in NFT Auction: The role of visual complexity and familiarity," International Journal of Research in Marketing, Elsevier, vol. 42(3), pages 684-710.
    5. Vomberg, Arnd & von Gegerfelt, Mats, 2025. "Unveiling investment vs. ownership perspectives among NFT buyers: A segmentation study exploring engagement patterns in NFT markets," International Journal of Research in Marketing, Elsevier, vol. 42(3), pages 536-556.
    6. M Yamin & Eka Mulyana & Dini Damayanthy & Amin Rejo & Shendy Y. Heartiana, 0000. "Adoption Level Of Rice Farming Technology On Swamp Land In Indonesia," Proceedings of Economics and Finance Conferences 14416219, International Institute of Social and Economic Sciences.
    7. Rezazadeh, Arash & Bohnsack, René, 2025. "Value creation and value capture in NFT business models: Insights from blockchain-based ventures," Technological Forecasting and Social Change, Elsevier, vol. 219(C).
    8. Liu, Yue & Xin, Baogui & Xie, Lei, 2025. "Strategic NFT adoption to combat digital piracy," Technovation, Elsevier, vol. 141(C).
    9. Alavi, Soogand & Haruvy, Ernan & Xie, Ying, 2025. "On the role of provenance in NFT trades," International Journal of Research in Marketing, Elsevier, vol. 42(3), pages 610-625.
    10. Tang, Jiangting, 2025. "Digital marketing, transaction costs, and corporate market power," Finance Research Letters, Elsevier, vol. 86(PA).
    11. Dulani Jayasuriya & Alexandra Sims, 2023. "Not So New Kid on the Block: Accounting and Valuation Aspects of Non-Fungible Tokens (NFTs)," JRFM, MDPI, vol. 16(11), pages 1-24, October.

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