To be or to want to be: how followers engage with NFTs, their communities and how it influences their identity journey

Purpose – Often associated to the cryptocurrency markets and to future metaverses, the NFT market and its determinants must be investigated on their own. Many determinants of consumer behaviors with NFTs remain undetermined. Besides early adopters, a significant population of followers has yet to start purchasing NFTs. This paper aims to explore identity-related determinants of followers’ engagement with NFTs around the personal and social identity theories as well as identity projects. Design/methodology/approach – This study is based on 34 semistructured interviews with respondents from France, Italy and India who self-identify as NFT followers. The data were analyzed using a simplified version of the Gioia method to explore motivations and identity expression through NFTs. The theoretical framework is grounded in personal and social identity theory and identity projects. Findings – The authors detail specific features of NFTs followers compared to fans or purchasers. They share purchasers and fans economic and technological perceptions associated to NFTs, but their emotions toward NFTs are contrasted. They give great importance to communities but are much concerned by potential dark sides. If they do not purchase NFTs so far, they incorporate them into their identity process and identity projects, even if such projects appear rather unstructured, as are their self-presentations. Research limitations/implications – Cultural replication as other methodological approaches as netnography and longitudinal is needed to disentangle both NFTs as identity issues. This research extends the understanding of dimensions that could influence the adoption and diffusion of a new technology by investigating NFTs followers. Practical implications – Managers could apply the investigated dimensions to structure strategies to convert NFTs followers and optimize their impact on NFT business. Originality/value – To the best of the authors’ knowledge, this is one of the first studies to address NFTs from a deep perspective of followers of a digital consumption phenomenon. It offers insightful reflections on the emotions, the role of identity and communities in technology adoption. The evolution of a more shared process of self-construction and a rethinking of the economy toward a greater de-financialization.