New Article on Non-fungible Tokens:

Together with Prof. Dr. Cait Lamberton and Prof. Dr. Stefano Puntoni (Wharton School, University of Pennsylvania), Prof. Dr. Fritze has published a new article on Non-fungible Tokens (NFTs).

Can NFTs deliver value for business and consumers?

Although NFTs have gained significant media attention, with some auctions for digital art skyrocketing, their retail applications and impactful business cases have remained limited.

The authors argue that this is due to retail managers underestimating the value of NFTs. Building on the technological foundations of NFTs, they develop a conceptual framework that identifies three key value propositions: transcendence, dynamic contingencies, and flexible identification.

A survey study suggests that while retail managers recognize the value of these capabilities, they don't yet associate them with NFTs. To bridge this gap, the authors use real-world examples to illustrate how NFTs can integrate these value propositions into a single marketing tool.

The paper is forthcoming in the Journal of Retailing and is available open access here.