The future of digital consumer experiences through Non-Fungible Tokens (NFTs): A shift in Consumer Behaviour.

Abstract

The Covid pandemic has led to a change in consumers as they shift towards digital experiences. The purpose of this study was to explore the world of NFTs and understand if brands could potentially use NFTs to create unique digital experiences for consumers, and in turn, positively influence brand loyalty. The researcher explored the shift in consumer behaviour and what this meant for branding post-pandemic. The shift in consumer behaviour brought light to the need for digitalisation. If brands don’t keep up with digital trends, they may be left behind. This facilitates a solid entry point for NFTs in branding, they open up a world of endless possibilities for brands and it has the potential to add a competitive advantage by creating a unique consumer experience. The pandemic has driven the need for digitalisation, and new technologies such as blockchain and its sub-ecosystems (NFTs) are now seen as creative pioneers. Brands need to adapt their branding strategies to withstand shifting consumer behaviour and the trend of digitalisation. To collect this data, semi-structured interviews were used as the researcher needed to explore the participant's beliefs, opinions and experiences related to the research problem and questions (Business Research Methodology, 2022).