NEW RESEARCH ALERT - New study examined the role of NFT’s in defining luxury value

An analysis of 40 luxury NFT campaigns between 2021 and 2022 shed light on the value of Non-fungible Tokens in luxury marketing. Wuxia Bao, Liselot Hudders, Shubin Yu and Emma Beuckels published their study in the highly esteemed journal International Journal of Research in Marketing.

Here are two takeaways:

1. Virtual luxury can be considered as a new category of luxury, next to exclusive, accessible, and experiential luxury. It is defined as luxury "that provides value by inventing virtual self-expression, distinctions in virtual interactions, experiences in virtual space, facilitation for virtual interfaces, visually driven product quality, and the economic benefits of virtual assets."
2. Through analyzing 40 luxury NFT cases, several values of virtual luxury were identified:
   • Uniqueness of virtual selves
   • Conspicuousness in virtual contexts
   • Prestige in virtual communities
   • Playfulness
   • Aesthetics
   • Liquidity
   • Perpetuity
   • Authentication capability
   • Interoperability
   • Visually driven excellence
   • Investment
   • Costly but with future advantages

Interested to read more? Read the full article.