Joern Schlimm, Sebastiano Mereu and Christoph Breuer
Over the past years, non-fungible tokens (NFTs) have sparked growing interest in the sport industry. NFTs are unique digital assets verified using blockchain technology. Each NFT…
Abstract
Purpose
Over the past years, non-fungible tokens (NFTs) have sparked growing interest in the sport industry. NFTs are unique digital assets verified using blockchain technology. Each NFT has a distinct identifier that sets it apart from other tokens, documenting its uniqueness and ownership. NFTs promise innovative growth opportunities by generating revenue via novel products such as digital collectibles which can be owned and traded on dedicated platforms. Despite this promising outlook, it currently seems unclear how sports NFTs should be designed and which features they should offer to align with consumer values, effectively meet their needs and ultimately drive Purchase Intention. This study will therefore attempt to answer the following research question: Which consumer values and consumer needs have a positive impact on PI of sports NFTs? Based on the results, the study seeks to offer advice on concrete characteristics sports NFTs should possess in order to foster mainstream adoption.
Design/methodology/approach
To address the current gap in the literature and provide an answer to the research question, this paper uses structural equation modelling exploring the impact of consumer values and consumer needs or wants on purchase intention regarding sports NFTs.
Findings
The results of this study indicate that social needs or wants (SNW) have the strongest impact on purchase intention, as well as on experiential and functional needs or wants. NFTs should therefore possess characteristics that foster community, interaction and connection with other team or athlete supporters while enhancing the overall consumer experience. Incorporating these elements into future NFTs can help sports organizations tap into the social SNW of consumers by providing opportunities for connection, interaction and collective experiences within supporter communities.
Research limitations/implications
Due to the low response rate of Baby Boomers, the results of the study cannot be applied to this cohort. Additional research, potentially using physical in-stadium surveys and targeted specifically at the BB cohort may shed light on their particular values, needs or wants and impact on sports NFT purchase intention. Moreover, Generation Z respondents may statistically be underrepresented in the sample due to the fact that only respondents aged 18 and older were included in the study. Hence, the part of Generation Z, which was born after March 2006 and had not yet come of age at the time of this research, was explicitly excluded from the survey. Results should be applied carefully to the population of sports team or athlete supporters due to the method of data collection which was based on convenience sampling and may therefore not be representative. Since the survey was exclusively administered online, people with no Internet access are not represented in this research.
Practical implications
Sports organizations and marketers can leverage the strong impact of SNW identified in this study to position their NFT portfolio accordingly. Using athletes themselves or other influencers as product ambassadors may trigger purchase intention of consumers. Additionally, it is crucial that socializing agents, such as family, friends, colleagues and other team supporters with a strong influence on consumers own or promote NFTs. Marketers can support this adoption process by encouraging testimonials, reviews and user-generated content that showcase how NFTs have positively impacted others. Reaching a critical mass of adoption among supporters as a first step will ultimately impact consumers’ desire to satisfy ENW and FNW as well. Consumers may then recognize the benefits of using NFTs to enhance their overall consumer experience and to make their lives easier, for instance by using NFTs as season tickets or to collect loyalty points they can redeem later.
Originality/value
This study is the first attempt to determine the relationship between consumer values, consumers’ needs or wants and their impact on purchase intention regarding sports NFTs.
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Joern Schlimm, Sebastiano Mereu and Christoph Breuer
Sports organizations have a strategic interest in utilizing video games as a means to generate commercial opportunities and increase participation in their respective sports. This…
Abstract
Purpose
Sports organizations have a strategic interest in utilizing video games as a means to generate commercial opportunities and increase participation in their respective sports. This study aims to investigate the specific features of sports video games (SVGs) that may significantly influence gamers’ desire to own virtual items, their Willingness to Pay (W2P) for these items and their participation in real-life soccer activities. The research also considers generational cohorts, and the amount of time gamers spend playing video games, offering a preliminary analysis of potential differences among various demographic groups and gamer types. Conducted in collaboration with the Fédération Internationale de Football Association (FIFA), the practical implications of this research aim to provide FIFA and other sports organizations with a foundational basis for the selection and collaborative development of SVGs.
Design/methodology/approach
To the best of the authors’ knowledge, this is the first attempt to determine the impact of concrete SVG features on consumers’ Ownership, W2P and Participation. Hence, a new survey construct needed to be developed based on an extensive review of scales that have been used by researchers to assess gamers’ gratifications and motivations for playing video games. The new construct was tested and refined through exploratory factor analysis. This study subsequently uses structural equation modeling to explore the impact of various SVG features on Ownership, W2P and Participation.
Findings
The results of this study indicate that, from a commercial perspective, competition, collaboration and social interaction appeal to gamers and drive Ownership and W2P in SVGs. Additionally, discovery and exploration enhance the SVG experience further motivating gamers to spend on in-game content. Fantasy, Escape and Sport Context are critical determinants of soccer Participation, as they enable gamers to immerse themselves in a virtual environment that offers experiences unattainable in real life. These features can strengthen gamers’ identification with soccer, making real-life Participation more appealing. Competing, Socializing and Relationship features also boost Participation by fostering a feeling of community and social interaction, encouraging gamers to seek similar real-world experiences. The findings of this study indicate that a universal approach may be ineffective, as various target audiences are motivated to engage in commercial transactions or participate in soccer based on different SVG features. Consequently, it is essential for sports organizations to segment their target audience and strategically develop SVGs that cater to the distinct needs of each group.
Research limitations/implications
Future research should aim to draw more representative samples by including a broader range of demographics, income levels and geographic locations. This would ensure that findings are generalizable across different segments of the population. The study also offers first insights into the preferences of different types of gamers according to their age group and time spent playing. However, additional research is needed to determine the preferences of additional types of gamers, for instance, by creating dedicated gamer marketing personas based on parameters like frequency of play, length of an individual gaming session, number of games owned, etc.
Practical implications
For sports organizations like FIFA, focusing on SVGs with multiplayer experiences, social features and competitive gameplay is crucial. Monetization strategies should capitalize on gamers’ desire to stand out and succeed in social and competitive contexts. With the additional focus on the discovery of rare items, sports organizations should integrate scarcity, exclusivity and discovery mechanics into their video games. The combination of social competition and the thrill of discovering rare items can drive higher engagement, loyalty and revenue. To inspire greater Participation in real-life soccer, sports organizations like FIFA should strategically select or develop video games that harness the power of immersion into a virtual sports environment by incorporating “Fantasy”, “Escape” and “Sport Context” features into SVGs. By creating immersive experiences that encourage gamers to connect with the sport on a deeper level, SVGs can effectively drive real-life soccer engagement.
Originality/value
To the best of the authors’ knowledge, this is the first time a study explores the concrete features of SVGs that may have a significant impact on gamers’ desire to own virtual items (Ownership), on consumers’ W2P for these items and on Participation in real-life soccer activities. Unlike previous research, which has predominantly concentrated on video games in general or specifically on the sports simulation game subcategory within SVGs, this study adopts a broader perspective by considering all types of sports-themed video games.
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Joern Schlimm and Christoph Breuer
This paper explores sports consumer interest in virtual environments (VE) and Web3 activations, specifically how the level of psychological involvement, consumers' generational…
Abstract
Purpose
This paper explores sports consumer interest in virtual environments (VE) and Web3 activations, specifically how the level of psychological involvement, consumers' generational cohorts and previous experience with VE and Web3 activations influence consumer interest in VE and Web3 products and services related to their favorite sports team.
Design/methodology/approach
A survey instrument was developed and distributed online resulting in a sample size of n = 526. The survey was designed to measure consumers' psychological involvement with their favorite sports team based on the Psychological Continuum Model, and to determine respondents' interest in potential VE and Web3 activations. Finally, the survey collected demographical information and data regarding respondents' previous experience with VE and Web3 applications. Multiple regression analysis was subsequently conducted to predict the impact of (1) psychological involvement, (2) consumers' generational cohorts and (3) previous experience with VE and Web3 activations on the dependent variable consumer interest in VE and Web3 activations.
Findings
The regression model showed a significant impact of the independent variables on consumer interest in VE and Web3 activations with consumer involvement exerting the highest influence. Consumers' previous experience with VE and Web3 applications also seems to trigger interest, in line with the consumption capital theory. This study also suggests that younger generational cohorts are not intrinsically more attracted to VE and Web3 activations but their interest seems to depend on the type of activation.
Research limitations/implications
This study is intended as a first assessment of independent variables that may have an impact on sports consumer interest in VE and Web3 activations. Further research is needed to assess the impact these variables combined with other indicators may have on consumer interest, for instance by employing a Structural Equation Modelling (SEM) approach. This research included selected VE and Web3 applications comprising online games, NFTs and cryptocurrencies, to calculate a VE and Web3 Literacy Score for the purpose of this paper. However, the “umbrella term Web3” (Wang et al., 2022) could indicate a number of additional applications not considered in this research. Future studies could examine sports consumer experience with additional Web3 activations when assessing VE and Web3 Literacy.
Practical implications
The results of this research imply the need for a diversification of the VE and Web3 portfolio offered by sports teams to cater to different consumer segments. Upcoming challenges for sports teams include motivating younger consumers to take an interest in Web3 activations beyond gaming. Additionally, sports teams should encourage loyal supporters in the advanced stages of the PCM who possess limited VE and Web3 experience, to engage in VE and Web3 activations through simplified offers complementing their overall fan experience.
Originality/value
VE and Web3 activations currently offered by sports teams are still in their early stages and data underpinning their success is scarce. This is the first study examining variables that may influence consumer interest in a sports context.