Understanding NFT purchase intention through socioeconomic value

Kemal Elciyar; Gamze Satılmış

doi:10.15178/va.2027.160.e1733

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Published: Sep 14, 2026

DOI: https://doi.org/10.15178/va.2027.160.e1733

Keywords:

NFT, Theory of Consumption Values, Digital assets, Scarcity, Blockchain, Perceived value

Kemal Elciyar

Anadolu University

https://orcid.org/0000-0002-7820-2978

Gamze Satılmış

Bilecik Şeyh Edebali Üniversitesi

https://orcid.org/0009-0001-1604-3959

Abstract

Introduction: The aim of this research is to examine the antecedents of perceived socio-economic value in NFTs (non-fungible tokens) and the relationship between socio-economic value and intention to purchase NFTs. Drawing on the Theory of Consumption Value (TCV), we propose that perceived scarcity, perceived uniqueness, and perceived affordability are associated with individuals’ perceptions of socio-economic value, which in turn is related to their intention to purchase NFTs. Methodology: The research is based on a survey design. Data collected from university students were analyzed using structural equation modeling. Participants were selected through convenience sampling from individuals with prior knowledge of NFTs. Results: The findings suggest that perceived scarcity has the strongest association with socio-economic value, while perceived affordability shows a weaker positive relationship. Perceived uniqueness, however, is not significantly related to socio-economic value, contrary to expectations. Moreover, socio-economic value is positively associated with NFT purchase intention. Discussion: These results indicate that NFT value is more strongly linked to supply-constrained signals than to subjective perceptions of exclusivity. In particular, scarcity-related cues appear to play a more prominent role in shaping socio-economic value perceptions. Conclusion: The study extends the TCV framework to digital assets by highlighting how price-related signals and supply limitations are associated with value perceptions in blockchain-based environments. The findings also provide evidence for a relationship between perceived socio-economic value and purchase intention under conditions of uncertainty and symbolic consumption.

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How to Cite

Elciyar, Kemal, and Gamze Satılmış. 2026. “Understanding NFT Purchase Intention through Socioeconomic Value”. Vivat Academia 160 (September):1-31. https://doi.org/10.15178/va.2027.160.e1733.

Issue

Vol. 160 (2027)

Section

Research Articles

This work is licensed under a Creative Commons Attribution 4.0 International License.

Author Biographies

Kemal Elciyar, Anadolu University

Associate Professor in the Department of Communication Design and Management. His research focuses on new media, digital communication, and the intersection of technology and society. He has a particular interest in blockchain technologies, Web 3.0, digital identity, and the psychological and communicative aspects of emerging technologies. His academic work also explores political communication, rhetoric, media psychology, and online behavior. Dr. Elciyar has extensive teaching experience in courses such as Research Methods in Social Sciences and New Media Literacy. He actively integrates data visualization, experimental design, and AI-supported learning into his teaching and research practices. He has published articles in peer-reviewed journals and contributes to interdisciplinary discussions on technology adoption, digital transformation, and communication strategies. His current work includes studies on blockchain literacy, virtual assistants, and the societal implications of artificial intelligence in communication.

Gamze Satılmış, Bilecik Şeyh Edebali Üniversitesi

Lecturer in the Department of Public Relations and Promotion at Bilecik Şeyh Edebali University, Türkiye. She completed both her undergraduate and master’s degrees in Public Relations and Advertising at Anadolu University, where she graduated as the top-ranked student of her faculty with outstanding academic performance. She is currently pursuing her PhD in the same field, continuing her academic development within the discipline. Her research primarily focuses on branding, marketing communication, and consumer behavior, with a particular emphasis on the dynamics of emerging digital environments and their influence on communication strategies. Her recent academic interests have expanded to include NFTs, Web 3.0 technologies, and blockchain-based systems, especially in relation to value creation processes in branding and marketing. In addition to her research activities, she teaches undergraduate courses in brand management, public relations, and advertising, contributing to both theoretical and practical dimensions of the field.

Funding data

Anadolu Üniversitesi
Grant numbers SBA-2025-2756

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