Motivations for Collecting Digital NFT Fashion

Abstract

Non-fungible tokens (NFTs) allow individuals to demonstrate ownership of digital and physical assets. NFTs are scarce, unique, and authentic; three properties known to be key for determining perceived value. Whilst previous research has primarily focused on NFTs as a source of economic value, here we assess the psychological motivations of collectors of digital fashion NFTs. Specifically, NTFs related to digital fashion are particularly relevant to HCI researchers as they sit at the intersection between business, culture, and self-expression. Here, we survey 19 users of a digital avatar fashion company, Genies, to understand the gratifications users derive from collecting digital NFT fashion. Results demonstrate that the primary motivations for collecting fashion NFTs are self-expression and utility and that motivations associated with value are secondary. We make design recommendations based on these results, indicating that developers should distinguish between expression-based motivations and value-based motivations.