Logo do repositório
 
Publicação

Value creation and value capture in NFT business models: insights from blockchain-based ventures

2025-10-01Artigo de investigação Acesso aberto
Ver registo simples
dc.contributor.authorRezazadeh, Arash
dc.contributor.authorBohnsack, René
dc.date.accessioned2025-09-02T13:23:11Z
dc.date.available2025-09-02T13:23:11Z
dc.date.issued2025-10-01
dc.description.abstractThis paper sets out to explore how blockchain-based technologies, particularly non-fungible tokens (NFTs), are influencing future business models. Drawing on the relevant literature and a multiple case study of blockchain ventures, we demonstrate how the technology leads to new polyadic mechanisms of value creation and value capture. A clarification of NFTs and related concepts, together with their use values and exchange value determinants, led us to argue that the polyadic mechanisms differ from those in dyadic and triadic business models. Overall, we identify a total of 39 NFT technology affordances that fall into four types: utility, social, financial, and legal affordances. In addition, the NFT business ecosystem is mapped in terms of sources of generativity, mixed-side network effects, and the convergence of complementors within the ecosystem. Finally, this study explores three distinct mechanisms of stakeholder collaboration using NFTs: token distribution and fundraising, polyadic value creation and capture, and smart contract-enabled facilitation of stakeholder interactions. Based on the insights, we discuss the impact of NFTs and blockchain technology on society (illustrated by two cases of NFT ticketing and decentralized apps), and the implications for theory, practice, and policy.eng
dc.identifier.citationRezazadeh, A., & Bohnsack, R. (2025). Value creation and value capture in NFT business models: insights from blockchain-based ventures. Technological Forecasting and Social Change, 219, Article 124250. https://doi.org/10.1016/j.techfore.2025.124250
dc.identifier.doi10.1016/j.techfore.2025.124250
dc.identifier.eid105009584024
dc.identifier.issn0040-1625
dc.identifier.other835edb93-7fbf-4e7d-9004-6f26c5398ad2
dc.identifier.urihttp://hdl.handle.net/10400.14/54600
dc.identifier.wos001528045700001
dc.language.isoeng
dc.peerreviewedyes
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/
dc.subjectBlockchain
dc.subjectBusiness models
dc.subjectNFTs
dc.subjectPolyadic mechanisms
dc.subjectValue capture
dc.subjectValue creation
dc.titleValue creation and value capture in NFT business models: insights from blockchain-based ventureseng
dc.typeresearch article
dspace.entity.typePublication
oaire.citation.titleTechnological Forecasting and Social Change
oaire.citation.volume219
oaire.versionhttp://purl.org/coar/version/c_970fb48d4fbd8a85

Ficheiros

Principais
A mostrar 1 - 1 de 1
Miniatura
Nome:
123944462.pdf
Tamanho:
8.51 MB
Formato:
Adobe Portable Document Format
Ver/Abrir

Coleções

CUBE - Contribuições em Revistas Científicas / Contribution to Journals