Bridging the gap: An exploration into how NFTs can be used as a tool for brand management
(2022) BUSN21 20222Department of Business Administration
- Abstract
- Purpose: The purpose of this paper is to explore the usage of NFT’s in branding through the introduction of a framework that explores the correlation between the practical benefits for the NFT user and Brand Awareness or Brand Loyalty for the Brand.
Methodology: To fulfill the papers’ purpose we conducted a literature review and a qualitative study exploring four different cases; NBA, J.D. Sports x Afterpay, Louis Vuitton, and Dolce & Gabbana. A framework was developed to analyze given cases and find relationships between NFT Benefits and Brand Awareness or Brand Loyalty.
Findings: The main finding of this paper shows that there is a clear pattern between the practical benefits of NFTs and Brand loyalty but not for brand awareness.... (More) - Purpose: The purpose of this paper is to explore the usage of NFT’s in branding through the introduction of a framework that explores the correlation between the practical benefits for the NFT user and Brand Awareness or Brand Loyalty for the Brand.
Methodology: To fulfill the papers’ purpose we conducted a literature review and a qualitative study exploring four different cases; NBA, J.D. Sports x Afterpay, Louis Vuitton, and Dolce & Gabbana. A framework was developed to analyze given cases and find relationships between NFT Benefits and Brand Awareness or Brand Loyalty.
Findings: The main finding of this paper shows that there is a clear pattern between the practical benefits of NFTs and Brand loyalty but not for brand awareness. Introducing an NFT project for the brand can result in an increase in brand loyalty because of the NFT benefits, while no clear connection between practical benefits and brand awareness has been identified.
Research Limitations: A significant limitation was that only four cases were analyzed thereby limiting the generalizability of the research. Accordingly, to strengthen both the reliability and the validity of the suggested framework, more research needs to be conducted. This is especially true for the chosen topic since NFT’s are at the forefront of technological development and their understanding is limited in this scope.
Practical Implications: Four managerial implications are presented in regard to how a manager should incorporate and structure NFT projects into their branding initiatives as successfully as possible.
Original/value: The paper is the first of its kind to investigate how firms can and should use NFT’s as a tool for brand management.
Keywords: NFTs, Brand Loyalty, Brand Awareness
Paper type: Research paper (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9102125
- author
- de Lima, Diogo LU ; Kalnina, Anete Katrina LU and Franzén, Sebastian LU
- supervisor
- organization
- alternative title
- How can NFT's help your brand?
- course
- BUSN21 20222
- year
- 2022
- type
- H1 - Master's Degree (One Year)
- subject
- keywords
- NFTs, Brand Loyalty, Brand Awareness
- language
- English
- id
- 9102125
- date added to LUP
- 2022-11-08 11:21:07
- date last changed
- 2022-11-30 03:41:01
@misc{9102125,
abstract = {{Purpose: The purpose of this paper is to explore the usage of NFT’s in branding through the introduction of a framework that explores the correlation between the practical benefits for the NFT user and Brand Awareness or Brand Loyalty for the Brand.
Methodology: To fulfill the papers’ purpose we conducted a literature review and a qualitative study exploring four different cases; NBA, J.D. Sports x Afterpay, Louis Vuitton, and Dolce & Gabbana. A framework was developed to analyze given cases and find relationships between NFT Benefits and Brand Awareness or Brand Loyalty.
Findings: The main finding of this paper shows that there is a clear pattern between the practical benefits of NFTs and Brand loyalty but not for brand awareness. Introducing an NFT project for the brand can result in an increase in brand loyalty because of the NFT benefits, while no clear connection between practical benefits and brand awareness has been identified.
Research Limitations: A significant limitation was that only four cases were analyzed thereby limiting the generalizability of the research. Accordingly, to strengthen both the reliability and the validity of the suggested framework, more research needs to be conducted. This is especially true for the chosen topic since NFT’s are at the forefront of technological development and their understanding is limited in this scope.
Practical Implications: Four managerial implications are presented in regard to how a manager should incorporate and structure NFT projects into their branding initiatives as successfully as possible.
Original/value: The paper is the first of its kind to investigate how firms can and should use NFT’s as a tool for brand management.
Keywords: NFTs, Brand Loyalty, Brand Awareness
Paper type: Research paper}},
author = {{de Lima, Diogo and Kalnina, Anete Katrina and Franzén, Sebastian}},
language = {{eng}},
note = {{Student Paper}},
title = {{Bridging the gap: An exploration into how NFTs can be used as a tool for brand management}},
year = {{2022}},
}