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NFT in loyalty programs: customer motivation for reward pursuit

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  • Telli, Eda
  • Aydin, Samet

Abstract

This study examines the integration of blockchain-based Non-Fungible Tokens (NFTs) into loyalty programs and their impact on consumer behaviour. Employing an exploratory mixed-methods approach, this study utilised a survey of 400 participants for hypothesis testing, conducted a conjoint analysis to evaluate consumer preference structures, and carried out in-depth interviews with industry experts to develop an empirically grounded framework for NFT-based loyalty programs. The results showed that consumers perceive NFTs as more than simple digital rewards and value them for their symbolic meaning and ability to foster a sense of social belonging. Moreover, consumer motivations, specifically the need for uniqueness, innovativeness, and displayability of NFTs, emerged as key drivers of their interest. Conjoint analysis further demonstrates that consumers are more drawn to abstract benefits, such as personalisation and artistic value, than to traditional monetary rewards. Overall, this study provides multi-layered empirical evidence that NFTs create emotional, social, and identity-driven value within loyalty programs, offering a novel framework for understanding and designing NFT-based reward systems.

Suggested Citation

  • Telli, Eda & Aydin, Samet, 2026. "NFT in loyalty programs: customer motivation for reward pursuit," Journal of Retailing and Consumer Services, Elsevier, vol. 90(C).
    • Handle: RePEc:eee:joreco:v:90:y:2026:i:c:s0969698925004898
    DOI: 10.1016/j.jretconser.2025.104710
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