Understanding Metaverse Consumer Motivation: A Study on the Perceived Value, Cultural Dimensions, and Prior Experience in NFT Assets Purchase

Abstract

The virtual economy has rapidly evolved alongside advances in digital technologies, including the integration of blockchain and interactive media that enable novel experiences and business opportunities. A notable development is the trading of non-fungible tokens (NFTs), where users participate as buyers, owners, sellers, and investors. This multi-role context, coupled with individual differences, adds complexity to understanding consumer motivations for trading and recommending NFTs. Focusing on NFT art as a representative type of NFTs, this study identifies 14 value dimensions from NFT technology-related, art-related, and product-related perspectives. Based on a large-scale international survey, the research examines how these value perceptions influence purchase and recommendation intention, and how these relationships are moderated by cultural factors (uncertainty avoidance and long-term orientation) and prior purchase experience. The findings indicated that product-related values exerted the strongest influence on consumer behavior, while technology-related values played a lesser role. Cultural and experiential factors showed limited moderating effects.