Providing Customer Value through Non-Fungible Tokens: A Preliminary Study

Lhorie Pirnay; Claire DEVENTER; Victor Amaral de Sousa

Providing Customer Value through Non-Fungible Tokens: A Preliminary Study

Lhorie Pirnay, Claire DEVENTER, Victor Amaral de Sousa

Research output: Contribution in Book/Catalog/Report/Conference proceeding › Conference contribution

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Abstract

Non-Fungible Tokens (NFTs) are digital certificates of ownership that can be attached to any virtual or physical item. Recently, they have become increasingly popular, especially with the advent of metaverses, virtual spaces that are shared and accessible online. Many organizations are launching NFT initiatives for a variety of reasons including retaining customers, developing new revenue streams, or demonstrating that they are keeping up with the latest technological advances. When organizations launch NFT initiatives, they attempt to provide value to NFT users in various ways, depending on the NFT characteristics. This paper is a preliminary study to understand the value offered by organizations and perceived by NFT users. We examine 46 NFT initiatives from 42 companies to determine what value can be provided to users of NFTs. The goal is to provide a basis for further analysis on the values of NFTs and to support the design of Information Systems embedding NFTs.

Original language	English
Title of host publication	Proceedings of the 56th Annual Hawaii International Conference on System Sciences, HICSS 2023
Editors	Tung X. Bui
Publisher	IEEE Computer Society
Pages	4543-4552
Number of pages	10
ISBN (Electronic)	9780998133164
Publication status	Published - 3 Jan 2023
Event	56th Annual Hawaii International Conference on System Sciences, HICSS 2023 - Virtual, Online, United States Duration: 3 Jan 2023 → 6 Jan 2023

Publication series

Name	Proceedings of the Annual Hawaii International Conference on System Sciences
Volume	2023-January
ISSN (Print)	1530-1605

Conference

Conference	56th Annual Hawaii International Conference on System Sciences, HICSS 2023
Country/Territory	United States
City	Virtual, Online
Period	3/01/23 → 6/01/23

Keywords

blockchain
ERC-721
Non-Fungible Tokens (NFTs)
perceived value
smart contracts

Access to Document

customer-value-NFTsFinal published version, 1.08 MBLicence: CC BY-NC-ND
HICSS-preprint-final

https://hdl.handle.net/10125/103185Licence: CC BY-NC-ND

Cite this

Pirnay, L., DEVENTER, C., & Amaral de Sousa, V. (2023). Providing Customer Value through Non-Fungible Tokens: A Preliminary Study. In T. X. Bui (Ed.), Proceedings of the 56th Annual Hawaii International Conference on System Sciences, HICSS 2023 (pp. 4543-4552). (Proceedings of the Annual Hawaii International Conference on System Sciences; Vol. 2023-January). IEEE Computer Society. https://hdl.handle.net/10125/103185

Pirnay, Lhorie ; DEVENTER, Claire ; Amaral de Sousa, Victor. / Providing Customer Value through Non-Fungible Tokens : A Preliminary Study. Proceedings of the 56th Annual Hawaii International Conference on System Sciences, HICSS 2023. editor / Tung X. Bui. IEEE Computer Society, 2023. pp. 4543-4552 (Proceedings of the Annual Hawaii International Conference on System Sciences).

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title = "Providing Customer Value through Non-Fungible Tokens: A Preliminary Study",

abstract = "Non-Fungible Tokens (NFTs) are digital certificates of ownership that can be attached to any virtual or physical item. Recently, they have become increasingly popular, especially with the advent of metaverses, virtual spaces that are shared and accessible online. Many organizations are launching NFT initiatives for a variety of reasons including retaining customers, developing new revenue streams, or demonstrating that they are keeping up with the latest technological advances. When organizations launch NFT initiatives, they attempt to provide value to NFT users in various ways, depending on the NFT characteristics. This paper is a preliminary study to understand the value offered by organizations and perceived by NFT users. We examine 46 NFT initiatives from 42 companies to determine what value can be provided to users of NFTs. The goal is to provide a basis for further analysis on the values of NFTs and to support the design of Information Systems embedding NFTs. ",

keywords = "blockchain, ERC-721, Non-Fungible Tokens (NFTs), perceived value, smart contracts",

author = "Lhorie Pirnay and Claire DEVENTER and \{Amaral de Sousa\}, Victor",

note = "Publisher Copyright: {\textcopyright} 2023 IEEE Computer Society. All rights reserved.; 56th Annual Hawaii International Conference on System Sciences, HICSS 2023 ; Conference date: 03-01-2023 Through 06-01-2023",

year = "2023",

month = jan,

day = "3",

language = "English",

series = "Proceedings of the Annual Hawaii International Conference on System Sciences",

publisher = "IEEE Computer Society",

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Pirnay, L , DEVENTER, C & Amaral de Sousa, V 2023, Providing Customer Value through Non-Fungible Tokens: A Preliminary Study. in TX Bui (ed.), Proceedings of the 56th Annual Hawaii International Conference on System Sciences, HICSS 2023. Proceedings of the Annual Hawaii International Conference on System Sciences, vol. 2023-January, IEEE Computer Society, pp. 4543-4552, 56th Annual Hawaii International Conference on System Sciences, HICSS 2023, Virtual, Online, United States, 3/01/23. <https://hdl.handle.net/10125/103185>

Providing Customer Value through Non-Fungible Tokens: A Preliminary Study. / Pirnay, Lhorie ; DEVENTER, Claire ; Amaral de Sousa, Victor.
Proceedings of the 56th Annual Hawaii International Conference on System Sciences, HICSS 2023. ed. / Tung X. Bui. IEEE Computer Society, 2023. p. 4543-4552 (Proceedings of the Annual Hawaii International Conference on System Sciences; Vol. 2023-January).

Research output: Contribution in Book/Catalog/Report/Conference proceeding › Conference contribution

TY - GEN

T1 - Providing Customer Value through Non-Fungible Tokens

T2 - 56th Annual Hawaii International Conference on System Sciences, HICSS 2023

AU - Pirnay, Lhorie

AU - DEVENTER, Claire

AU - Amaral de Sousa, Victor

PY - 2023/1/3

Y1 - 2023/1/3

N2 - Non-Fungible Tokens (NFTs) are digital certificates of ownership that can be attached to any virtual or physical item. Recently, they have become increasingly popular, especially with the advent of metaverses, virtual spaces that are shared and accessible online. Many organizations are launching NFT initiatives for a variety of reasons including retaining customers, developing new revenue streams, or demonstrating that they are keeping up with the latest technological advances. When organizations launch NFT initiatives, they attempt to provide value to NFT users in various ways, depending on the NFT characteristics. This paper is a preliminary study to understand the value offered by organizations and perceived by NFT users. We examine 46 NFT initiatives from 42 companies to determine what value can be provided to users of NFTs. The goal is to provide a basis for further analysis on the values of NFTs and to support the design of Information Systems embedding NFTs.

AB - Non-Fungible Tokens (NFTs) are digital certificates of ownership that can be attached to any virtual or physical item. Recently, they have become increasingly popular, especially with the advent of metaverses, virtual spaces that are shared and accessible online. Many organizations are launching NFT initiatives for a variety of reasons including retaining customers, developing new revenue streams, or demonstrating that they are keeping up with the latest technological advances. When organizations launch NFT initiatives, they attempt to provide value to NFT users in various ways, depending on the NFT characteristics. This paper is a preliminary study to understand the value offered by organizations and perceived by NFT users. We examine 46 NFT initiatives from 42 companies to determine what value can be provided to users of NFTs. The goal is to provide a basis for further analysis on the values of NFTs and to support the design of Information Systems embedding NFTs.

KW - blockchain

KW - ERC-721

KW - Non-Fungible Tokens (NFTs)

KW - perceived value

KW - smart contracts

UR - https://www.scopus.com/pages/publications/85152138411

M3 - Conference contribution

AN - SCOPUS:85152138411

T3 - Proceedings of the Annual Hawaii International Conference on System Sciences

SP - 4543

EP - 4552

BT - Proceedings of the 56th Annual Hawaii International Conference on System Sciences, HICSS 2023

A2 - Bui, Tung X.

PB - IEEE Computer Society

Y2 - 3 January 2023 through 6 January 2023

ER -

Providing Customer Value through Non-Fungible Tokens: A Preliminary Study

Abstract

Publication series

Conference

Keywords

Access to Document

Other files and links

Fingerprint

Modelling and Implementation of Blockchain-Based Solutions Supporting Cross-Organizational Business Processes

Hawaii International Conference on System Sciences

Cite this

Providing Customer Value through Non-Fungible Tokens: A Preliminary Study

Abstract

Publication series

Conference

Keywords

Access to Document

Other files and links

Fingerprint

Projects

Modelling and Implementation of Blockchain-Based Solutions Supporting Cross-Organizational Business Processes

Activities

Hawaii International Conference on System Sciences

Cite this