Developing a strategic typology of non-fungible tokens (NFTs)
Year: 2025
Type: article
Abstract: This conceptual paper contributes to the nascent Web3 marketing stream via offering a novel typology of Non-Fungible Tokens (NFTs) as blockchain-enabled digital offerings. Grounded in a customer-centric approach to marketing strategy, our 2 × 2 typology suggests that NFTs vary in terms of the value on offer (i.e. value-in-use/value-in-exchange) and the strategic focus pursued by firms/creators (i.e. transactional/relational). Four main types of NFTs thus emerge: 1. Validation certificates; 2. Digital replicas; 3. Immersion enablers; and, 4. Digital upgrades. For each NFT type, we discuss their distinctive features, the opportunities they offer and their shortcomings, before detailing their strategic implications. Our typology offers researchers and practitioners who want to engage with the Web3 space a solid grounding for understanding the implications of deploying different types of NFTs from a strategic marketing perspective.
Source: Journal of Marketing Management
Authors: Achilleas Boukis, Mariachiara Restuccia
Institutions: University of Birmingham, University of Sussex
Language: English
Subfield: Information Systems
Field: Computer Science
Domain: Physical Sciences
Open Access status: hybrid
OpenAlex ID: W4411217445