The effects of non-fungible token platform affordances on customer loyalty: A Buyer–Creator duality perspective

Abstract

Prior academic research on non-fungible tokens (NFTs), an application of blockchain technology in the metaverse environment, has focused primarily on the market demand side (i.e., buyers), with limited attention given to the supply side (i.e., creators). To address this gap, we seek to understand creators' and buyers’ perceptions of platform affordances that can aid NFT platforms in developing functions that address the needs and expectations of both parties. To do this, we draw on affordance theory and psychological contract theory and use a mixed-methods approach consisting of text mining, structural equation modeling, and importance-performance map analysis. The results show that platform affordances (transaction, aesthetics, status, and user interface affordance) facilitate the creation of psychological contracts, which in turn promotes customer loyalty. Moreover, the relationships identified differ between creators and buyers. Overall, these results point to the value of using a user-centric human–computer interaction perspective to study emerging blockchain-based systems. They can inform design principles and guidelines for NFT platforms to effectively support creator–buyer interactions, transactions, and relationships through enhanced affordances and user-centric experience. This study advances knowledge of design in the nascent NFT domain relevant to the cross-disciplinary human–computer interaction community.