earticle

영어

Introduced in late 2017, non-fungible tokens (NFTs) and blockchain technology were expected to revolutionize and change numerous industries and global economy. The rise of interest from the public, corporations and brands were followed up by the global interest in blockchain technology and cryptocurrency in the pandemic situation. Luxury brands usually lead in the trends by applying cutting-edge technology, to preserve their unique positioning in marketing and social media. This paper aims to provide explanation and increase the understanding of non-fungible token applications and strategies through cases in social media, including protection of content ownership, monetization, and commodification of digital content. The study reveals how pioneering brands and corporations lead the industry by applying blockchain technology through non-fungible tokens, promoting in social media. The understanding through the case study will potentially guide many industries, and domains to adopt NFTs strategically and effectively while comprehending challenges, risks, and opportunities.