Non-fungible tokens in retailing: Sources of value and strategic implications
本文提出一个框架，分析非同质化代币（NFT）的三个技术特征（去中心化、不可变加密、自动执行）如何为零售商提供三种价值主张（超越性、动态权变、灵活识别），并通过调查和案例说明其应用。
From Balenciaga to Bored Apes, non-fungible tokens (NFTs) have captured popular, managerial, and scholarly attention. However, despite some prominent exceptions, the question of whether and how NFTs can represent a real source of value for retailers remains open. This paper provides a framework to consider ways in which NFTs can be a source of value in retailing. We identify three technical features of NFTs (decentralization, immutable encryption, automated execution), which in turn offer potential utility to retailers in the form of three value propositions (transcendence, dynamic contingencies, flexible identification), which a survey study suggests are valued by managers but not yet connected to NFTs. To help make this connection, we use illustrative examples to demonstrate the ways in which NFTs can deliver these three value propositions in a single marketing tool. Taken together, we hope this framework's proposed relationships will spark future work in this area, leading to the development—and evolution—of theories of NFTs and their use in retailing as this technology continues to progress.