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Adopting NFTs for Customer Engagements: A Critical Overview

Adopting NFTs for Customer Engagements: A Critical Overview

Suruchi Sharma, Priya Jindal
Copyright: © 2024 |Pages: 13
ISBN13: 9798369313923|ISBN13 Softcover: 9798369344491|EISBN13: 9798369313930
DOI: 10.4018/979-8-3693-1392-3.ch002
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MLA

Sharma, Suruchi, and Priya Jindal. "Adopting NFTs for Customer Engagements: A Critical Overview." Adoption of NFTs and Cryptocurrency in Marketing, edited by Reena Malik, et al., IGI Global, 2024, pp. 13-25. https://doi.org/10.4018/979-8-3693-1392-3.ch002

APA

Sharma, S. & Jindal, P. (2024). Adopting NFTs for Customer Engagements: A Critical Overview. In R. Malik, J. Verma, P. Chaudhary, & A. Sharma (Eds.), Adoption of NFTs and Cryptocurrency in Marketing (pp. 13-25). IGI Global. https://doi.org/10.4018/979-8-3693-1392-3.ch002

Chicago

Sharma, Suruchi, and Priya Jindal. "Adopting NFTs for Customer Engagements: A Critical Overview." In Adoption of NFTs and Cryptocurrency in Marketing, edited by Reena Malik, et al., 13-25. Hershey, PA: IGI Global, 2024. https://doi.org/10.4018/979-8-3693-1392-3.ch002

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Abstract

The non-fungible token (NFT) market has indeed expanded dramatically during the past few years. The way we see and interact with digital assets—such as music, artwork, collectibles, and gaming items—is being transformed by non-fungible tokens. The distinctive IDs of these tokens are based on blockchain technology and may be connected to digital or virtual assets. All recognized properties can be freely traded using NFTs, which serve as a distinct price and authenticity guarantee for digital commodities. The difficulties in this developing sector can be overcome, even though the user experience is still clumsy and regulation has not yet been harmonized. NFTs offer the perfect mix of skills to rethink how businesses interact with their customers, including through loyalty and rewards programs as well as other innovative methods. This chapter makes an effort to critically analyze the benefits and drawbacks of the global NFT ecosystem as well as the various ways that modern marketers might use NFT to improve customer engagement in the digital era.

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