The current study attempted to unravel the complexities of sport Non-Fungible Token (NFT) consumption by exploring consumers' perceived values and risks of sport NFTs.
To achieve this goal, the authors conducted an exploratory study by collecting 23,445 tweets from Twitter and adopted artificial intelligence tools (i.e. latent Dirichlet allocation topic modeling and visualization, Word2Vec and uniform manifold approximation and projection) to analyze the data.
The results revealed that sport NFT platforms (i.e. NBA Top Shot, NFL All Day and UFC Strike) engage users through a blend of intrinsic and extrinsic motivations, including personal enjoyment, financial rewards and social recognition.
The current research not only illuminates the newly emerged NFT market but also provides exploratory evidence to understand sport NFT consumers’ value perception by using machine and deep learning approaches. Practically, the current study provides valuable insights to sport NFT brand managers by identifying significant values that trigger sport NFT consumers' engagement with sport NFT consumption behavior.
