Understanding motives and consumption behavior of sports NFT holders and non-holders: a case study of Kbollect

Abstract

PurposeThe purposes of the paper were (1) to examine the primary motives for owning sports NFTs and (2) to investigate their influence on fan consumption behavior toward sports teams for NFT-holders and non-holders and to examine whether any difference between NFT-holders and non-holders existed.Design/methodology/approachA qualitative case study approach of both individual and focus group interviews was used to identify major motives for the ownership of NFTs for sports NFT-holders and non-holders of Kbollect in particular. Data were analyzed through a thematic content analysis utilizing nCoder.FindingsFive common motives – financial rewards, exclusivity, hedonic motivation, sense of belonging and effort expectancy – were identified. For both sport NFT-holders and non-holders, financial rewards were the most influential motive. Whether sports fans own sports NFTs or not, they all indicated that ownership of sports NFTs would reinforce their consumption behavior.Research limitations/implicationsThe findings suggest to scholars and practitioners that sports NFTs primarily serve as a marketing tool, rather than constituting a viable means of investment. This observation holds true contingent upon two conditions: first, the reduction of technological barriers for non-sports NFT holders in acquiring sports NFTs; second, the provision of more palpable and attainable advantages for sport NFT-holders. Additionally, for existing NFT-holders, providing strategies to ensure a sense of belonging to the NFTs community would be beneficial.Originality/valueThe authors attempted to provide the most influential motives for sport NFT-holders and non-holders of sports NFTs. It was anticipated that these motives to influence fan behavior towards the sports team, possibly leading to increased engagement like higher game viewership, greater event attendance and a greater likelihood of buying team merchandise.