Table A1. Coding structure and analysis...

Table A1.

Coding structure and analysis

Representative code	1st order concept	2nd order theme	Aggregated dimension
“You have to be careful” IT8	Caution	Fear	Plutchik’s emotions classification
“You have to be attentive and need safety education” IT9
“I have a little bit of insecurity about NFT because in my point of view, someone can hack the system. So I think it’s a little bit of insecurity if someone hacks the system.” IND2
“Well, there are danger, One of my friends was scammed” FR3	Danger
“OK, there are great possibilities, but at the same time there are also danger” IT2R2	Danger
“Currently, myself, I’m quite neutral towards the concept, but from what I’ve seen in the market, people are not having a very positive image of NFTs. And perhaps that is also a barrier to widespread adoption.” IND3	Dislike	Disgust
“Some of them make me feel a bit skeptical, not everyone has talent” FR1	Dislike	Disgust
“There is this desire to have something unique in your possession that you can display, that you are proud to displaying.” FR7	Pride	Anticipation
“A sort of exclusivity in access before others, is perceived as very important” IT9	Pride
“I am passionate about digital art, and I believe it has allowed the monetization of digital objects I am optimist about that, they could have potential” IT6	Optimism
“But there you go, maybe One of the emotions is that, hope of a future value” IT1_R2	Optimism
“I think, happiness, I like the ideas behind it.” IT8	Happiness	Joy
“It’s fun, you get to see other people’s collections. There are some very pretty things and some very ugly things. That side, it’s really that playful side” FR2
“If I have NFT, it will be interesting for me, and I will be really happy that I have NFT” IND2
“I believe in the project, I inquired, and I am convinced” FR5
“personal fulfilment, creativity, and empowerment” IND4
“Happiness couldn’t come from NFTs, but I feel curiosity.” IT4_R2	Curiosity and novelty	Surprise
“Include curiosity and excitement” IT3_R2
“I’m pretty curious I guess” FR8
“Certainly, that of security, of tranquillity, in the main. Then it can also be seen as a crusade against counterfeiting, so always security, confident” IT5_R2	Security	Trust
“Wellbeing related tamper data and use blockchain make me feel more secure” Ind Int4	Security	Trust
“I tried to understand what it was, simply because I heard the words, but I didn’t understand the meaning behind and that made me mad!” FR6	Upset	Anger
“In this world there is no defined dynamic. Today they are a little inflated, there will be a collapse as has with Bitcoin. This lack of references makes me feel angry” IT5	Upset	Anger
“Sadness. I can see only speculation: the casino side, the irrational side.” FR3	Sadness	Sadness
“it’s a personal opinion, but I find it a bit aberrant” IT2	Sadness	Sadness
“This exclusivity can be emotionally appealing to those who value being part of a niche group or having unique, rare digital items. For example, think about bored apes NFT. Owning a Bored Ape NFT feels like being part of an elite club. The exclusivity associated with these NFTs can be a status symbol, and within the Indian context, it’s a way to show that I’m on the cutting edge of digital trends. It’s a form of social capital” IND1	Personal	Role	Community power
“The issue is also to understand how to move, let’s say, as I told you before, is up to you” FR7
“Then there’s the community aspect. People are looking to identify themselves as belonging to a group, as defending same cause. There’s a social utility.” FR2	Personal	Social
“They are very important and there you can also find people to create a project with, our is a team from different countries: Italy, Germany, France but there is also an Australian girl, and they really believe in NFT projects and then they are useful to support them, and we would like to give great value to ours” IT1
“I actually just came in contact with One community. Which One was it? You know, it was the community. There was a community that was around an NFT. After that, no, I haven’t necessarily seen any others. It’s like we are in tribe.” FR5
“So, the communities obviously can have a thousand and a thousand facets, but they are a touch of the heart of most cases. Because they support various projects, they do education, they do, in some way, they externalize the conditions of this environment that has a closed self-referential perspective and they try to bring it to the common users, which obviously not all of them do. Many are simple market communities where people publish their work hoping that someone else will discover it, but in reality, it’s just a poor war in that case. But, if you find communities that are very active and obviously encourage discussion and comparison, then those are absolutely values of non-consumers and that’s what I try to do in my communities.” IT 5
“So, you can collectively engage in problem solving for NFT projects or blockchain projects and you will get rewarded like tokens or NFTs in NFTs. So that’s how I got my first NFT. Like I contributed collectively, collaborated work, like it’s called like that, CCC - Collectively Collaborated Works” IND4	Commercial and professional
“They are fundamental also in terms of build your personal brand, to empowering” IT4R2
“I don’t like massive communities. Where there are 500. I prefer smaller and more vertical communities the more I prefer them and the less risk of finding the speculator” IT4
They allow you to create engagement - relationships - knowledge” IT10	Continuous knowledge	Bright and dark sides
“If the community creates a high level of engagement and creates relationships, an exchange of opinion the more an exchange and education is created and therefore they become more useful.” IND1
“The are experts and neofits and they talk and exchange information 24 h a day” FR2
“Through online forums and social media, I connect with people from diverse backgrounds, sharing insights and experiences, but without a loss in terms of belonging, we are all accumulated and united but our passion” IT5R2	Collaboration and creation
“Generates conversation, exchange of ideas, the social world in general lives on community” FR7
“One of the most critical aspects of communities are incorrect activities and risks associated with NFTs, scams and the like, as well as outright scams and illegal activities” IT6	Collaboration and creation			Bullying
“They could exclude you, because you are not “mature enough”” IND4
“While on Discord it is messy, and they also seem much more bullying persons.” FR1
“They have this cult and could be transformed in a negative thing with damage for the member” IND5	Fanatism
“I preferred when there were fewer people and really knew and truly believed in NFTs” IT3
“They spread fake information. So, I do not trust. I am using Facebook, Telegram, Instagram, sometimes X as well. I prefer X after that Facebook. Because it is really common and easy” IND 7	Easy and safe	Influence of different channel
“Instagram is for promoting and showing, X is like Instagram but more suitable for discussions, Discord is a mixture, much more speculative, more immediate than X They are not very open to dialogue. Those on social media follow quieter and more traditional social policies than such media.” FR1	Speculative and chaotic
“On Discord, you can just hide your identity and you just do whatever you want to, is more speculative and commercial, on specific projects” IND7
“For example, some communities publish privileged information that facilitates the members of the community but that damages the market. These are real market manipulations” IT6
“On YouTube and Twitter, I simply don’t express myself, like, I don’t want to Instagram is more for artists as twitter. They’re not platforms that lend themselves to that kind of exchange.” FR5	Specialization
“If you had asked me this question some years ago, maybe I would have said no, but because today there is a lot of awareness and the UN talks about this, so I am also concerned” IND1	Energy consumption	Environmental	Sustainability issues
“Unfortunately, I don’t look at the problem in terms of technology, but I think it’s bitcoin that consumes a lot of energy but it’s a question of thinking about how to reduce this consumption. There are CSR reflections on it, but I want to say is it worse than all the cars with their exhaust? Is it worse than the consumption of households in heating, of factories?” FR5	Energy consumption	Environmental	Sustainability issues
“It is a problem, and I know that Ethereum which has more critical issues, is working to solve it by switching to another” IT3	Blockchain protocol
“They really consume a lot and some operators themselves are considering how to optimize for example, changing the POW and POS” IT12 “They are a problem, they should invent them with zero impact but passing on the blockchain in the end wouldn’t cancel this effort.” FR2
“The NFT does not guarantee to be CSR, it is CSR depending on the blockchain that is chosen behind it and what it replaces or those” FR3
“They are a problem; they should invent them with zero impact but passing on the blockchain in the end wouldn’t cancel this effort. I think it should change the way energy is taken, create farm companies that have sustainable systems, harnessing the hydroelectric power of waterfalls and go with renewables, even if only a percentage initially. If this type of structure did not have high costs, I would also be willing to pay a little more. The energy transition should be implemented in all fields” FR2	Find alternative solutions
“The NFT does not guarantee to be CSR, it is CSR depending on the blockchain that is chosen behind it and what it replaces or those, the new ones replace nothing for valuation that creates new value. But if they replace the concert ticket, we can make comparisons” FR3	Find alternative solutions
“There are many aspects that can be improved for the environmental impact in our life, but no One puts in place, there are major problems that should be improved first, it is not the most critical aspect” IT3	Neutralization techniques
“Well, let’s put things in perspective! It is mankind. If we do not pollute with NFTs, we will pollute with something else. If we go on like this, in 20 years we will implode” IT 2	Neutralization techniques
“You have to be careful of the codes and the risk that by making a mistake the wallet will lose for ever, this is connect to non-mortality of the data, it becomes extinct and does not create digital junk. For example, Facebook is full of dead data” FR5	Data immortality and digital junk	Social
“Many projects like us give something for charity and give something back in terms of sustainability, e.g. for children, communities, I am concern if they are pure or not” IT10	Charity
“I see also Save the Children use for sustain their actions, its original” IT6R2	Charity
“We have to remain updated because all these technologies could substitute us, our role in security, in certificate, thinks to lawyer or at all timestamping related jobs” IT4	Work reconfiguration
“I am afraid to be substitute from all these technologies, I am also a gallerist so I think they could substitute our role, surely reconfigure” IT6	Work reconfiguration
“The sustainability and social responsibility are like the government should come into it and they should regulate. We don’t know who is actually regulating these assets” IND7	Regulation turmoil	Governance
“Yes! there is a governmental subject, there is what we call the DAO. So governmental in the societal sense, in the sense of democracy in the sense. Putting in place a system that is socially responsible” FR6
“So in India, as I said, there’s some tax regulation issues around both crypto and NFTs, there is turmoil, those who are afraid and those who take advantage of it also enterprises” IND 5
“There will be important also in terms of regulation in and between countries” IND8
“Is a problem also in how and if declare and pay taxes” IT12	Responsibility
“Once you’ve bought an NFT, are you subject to some form of value added tax because it’s a transaction that should be taxed. Is there any taxation? How do I have to declare this? And companies? It’s not clear.” FR2
“In the years to come, it will be very useful, that it will be regulated, that there will be a little less aberration” IT4_R2
“Cryptogaming involves using your NFTs. You can use your character with those characteristics” IT10	Games and play to earn	Web 3.0	Technological examinations
“I would say I would invest in fantasy gaming because, yes, I was a, you know, I’m a fantasy gaming enthusiast and I invested a lot of money into it and I got some return as well.” IND7
“I see them closely linked to the metaverse because they are used to buy items and to increase the characteristics of their avatar and play better. Gamers, however, have already lived in the metaverse for years, it will be more evolved. I’m a bit scared to find myself in Ready Player One but I welcome it.” IT 6
“well is also strictly related to play to earn dimension” IT 5 AND IND 4
“In metaverse NFTs are an abstraction of an abstraction, take for example decentraland, i have the representation of a land and NFTs is the abstraction that give me property, maybe something is changed, for example gold doesnt’ have any value but we decide to give it a value of richness and we posit as monetary benchmark, they are abstraction” IND2	Features
“Is a way to being globally recognizable” FR3
“It’s a good for us that’s more tangible intellectually.” FR4
“I don’t know if you’ve seen Ready Player One, if our real world is unlivable then it will be the only way, going digital will be a loophole.” IT9
“We have a whole system with metaverse where we come. We’re mixing all the possible worlds of digital technology. And as such, we’re going to see more and more things coming out of musicians that include NFT and crypto currencies, and with video games or geek culture, more generally” FR5
“Intangibility, on the other hand, does not scare me, on the contrary it gives me new ideas. Even my parents give me this speech that they see nothing behind it, but this is a wrong thing. You have your money on your credit card, do you see it? No, so what is different? People of older generations can’t understand it. Few have believed in the new technology and have lost the opportunities they are behind it.” IT10
“Maybe users can customize their avatars. Like in today’s world their own avatars and virtual spaces.” IND 8	Avatars	New digital worlds
“maybe users can customize their avatars. Like in today’s world, people are making their own avatars and virtual spaces” IND7
“I’m going to dress my avatar, or I’m going to furnish my apartment in my virtual world.” FR4
“A certain number of NFTs, these NFTs, you are going to use in a metaverse either as NFTs that allow you to change your avatar, such as shoes” IT3_R2
“Maybe the movie Ready Player One. A virtual environment where I can access with viewers or similar, where your avatar moves on multi-platforms, always the same, always myself but on different worlds. The problem is that every company wants to create its own metaverse, so the NFT if I can use it on all platforms then it will have a much more real and higher value than other NFTs. It is still very smoky” IT4
“In metaverse NFTs are an abstraction of an abstraction, take for example decentraland, i have the representation of a land and NFTs is the abstraction that give me property, maybe something is changed, for example gold doesnt’ have any value but we decide to give it a value of richness and we posit as monetary benchmark, they are abstraction” IND2	Metaverse
“The metaverse is very connected. 50% of NFTs will be tied to it, anyone who wants their character to be seen or not to be confused” IT10
“NFTs are the building block of Metaverse” IT13
“A certain number of NFTs, these NFTs, you are going to use in a metaverse” IT3_R2
“If we all lived in the metaverse in One generation we would be extinct.” IT3
“I see them closely linked to the metaverse because they are used to buy items and to increase the characteristics of their avatar and play better.” IT 6
“Think from a company, a Brand. Because they’re more reliable, very well established” IND8	Brand	Brand vs artist	Economic and business reflections
“I’m a short-term investor. I would prefer to buy from a brand, I have to be involved to support artist” IND5
“If I find an indie artist who sells cheaply, I will choose with the hope that he will then reevaluate himself. Is an investment to buy a beautiful thing and make money. I expect a more real benefit from a company, services and other options” FR2
“I would go for the artist instead of brand because when there is a brand, there are a lot of people involved into it	Artist
Brand is not a person. So, at the same time, if you are backing a person, so obviously maybe you admire that person or maybe there are some qualities of that person that attracts you.” IND7
“Support a digital artist that I admire, also as a long-term investment, hoping it appreciates in value. An artist because I value artistic expression and originality more. An artwork has a deeper and more personal meaning compared to a branded product.” IT3_R2
“My point of view is that the cryptoeconomy cuts through intermediaries and the use of banks to make transactions, such a thing from the state point of view is a big problem because it forces us to completely rethink the concept of economy.” Int 7	Freedom and decentralization	Reconfiguration of the economic system
“If with decentralization we want to avoid paying sums that we would have paid with banks and other operators, knowing that there are gas fees here too does not mean that in future we will not find ourselves in the same mechanism as today” FR3
“Blockchain technology is used to get rid of the influence of central banks, We’re getting more into, let’s say, the dematerialization of exchanges and as soon as there’s a property to be exchanged,” FR4
“But what I’m going to say instead is all those that are backed by the decentralized virtual world. Uh, yes, there’s a sense of freedom or there’s no authority that’s going to say. who’s going to say well who’s going to dictate how it should evolve or how to set a price? And all that? The price is set by the public” IT12
“If I have to talk about everything that will revolve around crypto-currencies, it’s more about breaking the big dominant orders. Whether it’s in finance, in data management, in all these principles, we give back a little bit of freedom to the users and it allows us to avoid big monopolies that impose their way of doing things, which sometimes is ethically borderline or a bit aggressive” FR3	Value perception
“There you don’t even have the perception of how much it’s worth in real money.” IT5
“So suppose I say they want to inflate money, the government can control it now, right? Isn’t it? Yes. If they want to inflate, yeah. But with blockchain technology or if you adopt a global currency, it’s really hard. You cannot control on like the inflation, like it’s already coded like for Bitcoin. It’s coded like in 2040, there will be only a limited supply of coins. So it’s deflationary in nature and this could change the entire economic order. India is already working in make its cryptocurrency but let see” IND4
“Digitality is their added value. I don’t have to wait for the courier but I quickly buy the contract and I am entitled to service or work.” IT9
“The fact that they are digital is not a problem because they are my property, the blockchain gives me security and therefore I would trust to buy them.” FR1
“If I want to trade this NFT or I want to trade this art piece I would only look at the monetary aspects first, okay? But if I’m like a tech-savvy person or if I want to hold a piece of technology, then I would give more importance to its inherent value. Like, okay, suppose the artist, like One famous artist in my locality is making an NFT and he’s putting it on sale on the network.So I would give value to the person’s hard work and efforts initially, our personal relations, like Leonardo da Vinci,if his artwork is made an NFT, definitely it would price higher. But will I continue to hold it or not? I can switch off or I can sell it on a platform, crypto exchange or an NFT exchange.It has a multidimensional answer to this.If I’m a gamer and I’m holding something like a car or a racing, suppose it’s a racing game and there’s a racing car NFT that’s for sale. So maybe a hedonic and social also on this side, an aesthetic and last monetary.”IND5
“My point of view is that the crypto economy cuts through intermediaries and the use of banks to make transactions, such a thing from the state point of view is a big problem because it forces us to completely rethink the concept of economy.” IT7
“Would trust to buy them if there was a price-value reference point” IT 5	Transparency
“Once these blocks are created, all the information you find on the blockchain is transparent to everyone. It means that you can trace from the starting point to the end point everything that happened with this NFT. So basically, that’s it. The advantage is that when you buy an NFT, you can have access to its entire history” FR5
“when I said transparency, I think that brings me back to the same point that how are you ensuring that the principle the whole world is based on in the NFT is based on authenticity and transparency?” IND8
“NFTs is what that allow to exchange the value of the crypto, we have coin, now we could have contracts and product to trade” IT1	NFT opportunities due to the link with cryptocurrency	Link with crypto currency
“Well, the point is, if you want to be a purchaser, you have to trade in cryptocurrency” IND1
“The common thing is that both are declared on the blockchain, they are like Two means of transport traveling on the same road, blockchain the road, cryptocurrency is fuel and NFT a motorcycle.” IT10
“With integrated metaverse and experiments on these technologies will now be almost outdated and we will move towards that, if now they lose value from the bursting of the bubble, they will not lose their importance” IT7
“If I have to talk about everything that will revolve around crypto-currencies, it’s more about breaking the big dominant orders. Whether it’s in finance, in data management, in all these principles, we give back a little bit of freedom to the users and it allows us to avoid big monopolies that impose their way of doing things, which sometimes is ethically borderline or a bit aggressive” FR6
“For example, both are volatile, but their value does not vary equally. For example, in NFTs, there is a floor price that varies and cryptocurrency has little to do with it” FR1
“Cryptocurrency is the speculation of the poor.” FR3	NFT concern due to the link with cryptocurrency
“They are for who want to make money easy and in short time and for who that own money but want to demonstrate something” IND2
“They are Two tokens, most also in cryptocurrencies are also tokens. I see them as Two separate things. There is trading and there is the NFT market. In NFT there is a lot, there is collecting, speculation, cash-washing, there are many things” Int 23
“Membership yes, Royalties if I were a producer or participant in some part, even if it is very much linked to the concept of network marketing and Ponzi scheme, a sort of chain markup that I don’t like.” IT4
“Yeah, they initially like this, how this technology works out there, how this Ponzi scheme in NFTs or blockchain technology works. You’ll put this 2,000 expecting 4,000. But what would happen? You will lose all your $2,000 and you’re out of the game. So gathering customer trust in NFTs has been a big problem” IND4
“NFTs can reflect my personal interests, artistic tastes, and support for certain artists or cultural movements. They can represent an extension of my digital identity” IT3R2	Self-affirmation	Identity building process	Identity
“It’s a personal process, not particularly constructed either. It was a bit of an exploration, like you read sometimes, articles on subjects to learn, to see what it was and so you adapt” IT6
“it’s serious, it’s your irrational path. Irrational in any case. Is temporary, it is the techno appetite. It’s, people who show up on the net and they don’t think anything of it.” FR3	Inclusion and opposition
“I also have a life outside: family, work, for me are an outlet and a pastime to always be with a window open to the future.” IT9
“the identity of an artist is a social construction. Whereas here, it is a social construction of the identity of being a good artist, an artist of great potential and communities of expert validate or nurture this credention. So I feel like, to connect NFTs to your identity, there should be a certain level of personal identification features or personalization for the technology” IIND3	Social construction
“When you are in a club or you are part of a group of people, or you are part of a tribe, of a community of people who like this product there and therefore a sign of recognition. Like a tattoo or things if not such or such clothing which allows to say. I am a surfer or a Harley Davidson owner, a biker…” FR4
“In my case I vent my artistic vein and then I have the opportunity to those who have many cryptocurrencies that if they like it they can buy it.” IT9
“Anonymity preserves but for us as users it is a danger, you can’t trust it.”FR6	Anonymity	Authentication
“I want to be recognized because I wear brands. It’s not just in your street, it’s not just in your neighborhood, is in the whole world! They could be an identity card, my key to digital. NFT allows for strict identification.” FR3	Recognition
“Now, the difference is that the artist puts a digital signature to his artwork. So, in good old days, you know, it is like Raphael putting a signature, you know, on his work.” IND 3
“You’re giving me a virtual ticket to a concert that’s becoming memorable, exceptional and a household name. And I can certify that it’s mine, that it’s real and better than that, I can post it in the virtual world that goes from the metaverse, to Facebook, Meta and Facebook now we’re in the same world and all of a sudden I can say I was there and the I was there It’s certified.” FR2
“I think they could be useful for authenticate objects, for example on my side I will buy if it allows to certify diamonds, there is a company that is starts to do that and we follow the process. I think could be interesting” IT 9
“There are many and they also join a cultural discourse that is very linked to the generations. Being exclusively digital, for example, I need something material so people are more reluctant to understand them. For example, younger generations being born and raised with this world are freer from this sense than older generations more likely to use them. By using apps and living online, they are used to exchanging virtual content and currencies, buying online, have a greater predisposition and see lower risks. Those aged 30 and over may be more interested in having the physical object in exchange for money. The attitude to consumption is different”FR5	Generational discourse
“I think there is a generational issue too. But I think that the younger people who are even more, who have grown up even more in virtual worlds than me, even if I was already the generation that was very much into video games. And all that, I think that they will value it even more. After the 2000s, because they’re used to being on their phones all the time living life through,chatting, see the proposed image and reels mediated by a digital device”IT6
“People of older generations can’t understand it. Few have believed in the new technology and have lost the opportunities they are behind it.” IT10
“It is a digital identifier,could be a piece of art or something that can be tokenized or for example as passport or for tourism certificate” IND1	Digital identifier	Digital asset	NFTs perception
“it’s a type of a data asset which definitely represents the ownership or in some cases a proof of authenticity of a unique item or a price. Currently very famously, you know, it is linked to art, music, videos, you know, that sort of stuff” Ind.Int.8
“So the NFT was a certificate that certified that that car had been subjected to, I don’t know, a radiator change and the NFT, let’s say, recorded on the blockchain the change that occurred on that piece of car.” IT4R2
“I see it as a financial instrument. So it’s subject to volatility” IT17	Investment
“NFTs are often seen as a new form of investment, akin to collectibles or digital assets. Indian consumers interested in wealth accumulation might view NFTs as a potential investment opportunity” IND7
“I don’t see it as a means of having liquidity, perhaps real liquidity. So it’s an investment. An investment, I’ve always seen it either in cryptocurrencies like NFT” IND3
“There is this way of certifying is being extracted as far as diamonds are concerned and anyway it’s a very difficult environment also, so probably investing in diamonds and obtain a NFT certificate give me more trust”IT2R2
“Well it is a multidimensional concept if I’m a trader, I only think in terms of return.So monetary aspect would come first	Art object
“The painting that you will have made in virtual with an NFT tag. In a million years, it will be the same as the paintings that are worth a certain value in museums today and there is a perenniality. There is something which makes that, except if you decide to destroy it or to make it disappear. Today, some artist’s works disappear through fire, war, theft. I see more the principle of recognition, a bit like the art collector, or the NFT collector at night, it’s true that it’s fun, afterwards it’s really playful..”FR2
“We reason that at the moment they are only digital art forms” IT12
“An NFT in my opinion is a unique and irreprintable certificate, i.e. if I have an object whose authenticity I want to certify, I can easily do so, giving it an NFT, also because they exploit blockchain “technology, so there are no problem.” IT3R2	Uniqueness	Potentialities and concern
“The NFT is deeply philosophical. Yeah, it is deeply philosophical. It’s a question of the rarity feeling that this is the only One. I got a digital signature. See, I think digital blockchain NFT and smart contracts, these are telling artists they are trying to raise the rarity value of that art much more than what is there in the physical world. The moment I start circulating it, then the whole purpose of holding that is gone because it is no longer rare. So it creates greater exclusivity than today, NFT, because there is no scope for exhibiting it at any point. Now look at most of the Guggenheim or any top museum in the world, it is contributions of a lot of rich people. Rockefeller had put his personal collections now into Guggenheim and today everybody appreciates it, before was restricted, only for “special people.” But what happens in NFT? It doesn’t happen that way. Rockefeller wants to give it, he’ll say, okay, take an image of it.” IND2
“So for us, NFTs are basically as a concept, it’s like something that you cannot replicate, it can’t be anything. For example, art pieces that are sold on OpenSea or for example, the kind of stuff we use in video games like CSGo.” Ind. Int 5
“They are an empty box, you decide how to refill” IT5_R2
“There’s a whole aspect that I didn’t mention: speculation. In fact, there’s a whole speculative market around NFTs.” Int.19	Risks
“The risk of the NFTs is the speculation in fact. Finally, art is only a pretext, somewhere, to speculate.” Int.16
“Short-term speculation that has failed to appreciate its technological fundamentals. Adoption is facilitated by a wider range of use cases to be grounded.” IT4R2
“They are for who want to make money easy and in short time and for who that own money but want to demonstrate something” IND1
“So unless and until we have a proper mechanism to regulate or like we don’t know who is actually manipulating it. That is literally creating more volatility, variation in prices on that’s also creating an adoption hindrance.” IND 5

Representative code	1st order concept	2nd order theme	Aggregated dimension
“You have to be careful” IT8	Caution	Fear	Plutchik’s emotions classification
“You have to be attentive and need safety education” IT9
“I have a little bit of insecurity about NFT because in my point of view, someone can hack the system. So I think it’s a little bit of insecurity if someone hacks the system.” IND2
“Well, there are danger, One of my friends was scammed” FR3	Danger
“OK, there are great possibilities, but at the same time there are also danger” IT2R2	Danger
“Currently, myself, I’m quite neutral towards the concept, but from what I’ve seen in the market, people are not having a very positive image of NFTs. And perhaps that is also a barrier to widespread adoption.” IND3	Dislike	Disgust
“Some of them make me feel a bit skeptical, not everyone has talent” FR1	Dislike	Disgust
“There is this desire to have something unique in your possession that you can display, that you are proud to displaying.” FR7	Pride	Anticipation
“A sort of exclusivity in access before others, is perceived as very important” IT9	Pride
“I am passionate about digital art, and I believe it has allowed the monetization of digital objects I am optimist about that, they could have potential” IT6	Optimism
“But there you go, maybe One of the emotions is that, hope of a future value” IT1_R2	Optimism
“I think, happiness, I like the ideas behind it.” IT8	Happiness	Joy
“It’s fun, you get to see other people’s collections. There are some very pretty things and some very ugly things. That side, it’s really that playful side” FR2
“If I have NFT, it will be interesting for me, and I will be really happy that I have NFT” IND2
“I believe in the project, I inquired, and I am convinced” FR5
“personal fulfilment, creativity, and empowerment” IND4
“Happiness couldn’t come from NFTs, but I feel curiosity.” IT4_R2	Curiosity and novelty	Surprise
“Include curiosity and excitement” IT3_R2
“I’m pretty curious I guess” FR8
“Certainly, that of security, of tranquillity, in the main. Then it can also be seen as a crusade against counterfeiting, so always security, confident” IT5_R2	Security	Trust
“Wellbeing related tamper data and use blockchain make me feel more secure” Ind Int4	Security	Trust
“I tried to understand what it was, simply because I heard the words, but I didn’t understand the meaning behind and that made me mad!” FR6	Upset	Anger
“In this world there is no defined dynamic. Today they are a little inflated, there will be a collapse as has with Bitcoin. This lack of references makes me feel angry” IT5	Upset	Anger
“Sadness. I can see only speculation: the casino side, the irrational side.” FR3	Sadness	Sadness
“it’s a personal opinion, but I find it a bit aberrant” IT2	Sadness	Sadness
“This exclusivity can be emotionally appealing to those who value being part of a niche group or having unique, rare digital items. For example, think about bored apes NFT. Owning a Bored Ape NFT feels like being part of an elite club. The exclusivity associated with these NFTs can be a status symbol, and within the Indian context, it’s a way to show that I’m on the cutting edge of digital trends. It’s a form of social capital” IND1	Personal	Role	Community power
“The issue is also to understand how to move, let’s say, as I told you before, is up to you” FR7
“Then there’s the community aspect. People are looking to identify themselves as belonging to a group, as defending same cause. There’s a social utility.” FR2	Personal	Social
“They are very important and there you can also find people to create a project with, our is a team from different countries: Italy, Germany, France but there is also an Australian girl, and they really believe in NFT projects and then they are useful to support them, and we would like to give great value to ours” IT1
“I actually just came in contact with One community. Which One was it? You know, it was the community. There was a community that was around an NFT. After that, no, I haven’t necessarily seen any others. It’s like we are in tribe.” FR5
“So, the communities obviously can have a thousand and a thousand facets, but they are a touch of the heart of most cases. Because they support various projects, they do education, they do, in some way, they externalize the conditions of this environment that has a closed self-referential perspective and they try to bring it to the common users, which obviously not all of them do. Many are simple market communities where people publish their work hoping that someone else will discover it, but in reality, it’s just a poor war in that case. But, if you find communities that are very active and obviously encourage discussion and comparison, then those are absolutely values of non-consumers and that’s what I try to do in my communities.” IT 5
“So, you can collectively engage in problem solving for NFT projects or blockchain projects and you will get rewarded like tokens or NFTs in NFTs. So that’s how I got my first NFT. Like I contributed collectively, collaborated work, like it’s called like that, CCC - Collectively Collaborated Works” IND4	Commercial and professional
“They are fundamental also in terms of build your personal brand, to empowering” IT4R2
“I don’t like massive communities. Where there are 500. I prefer smaller and more vertical communities the more I prefer them and the less risk of finding the speculator” IT4
They allow you to create engagement - relationships - knowledge” IT10	Continuous knowledge	Bright and dark sides
“If the community creates a high level of engagement and creates relationships, an exchange of opinion the more an exchange and education is created and therefore they become more useful.” IND1
“The are experts and neofits and they talk and exchange information 24 h a day” FR2
“Through online forums and social media, I connect with people from diverse backgrounds, sharing insights and experiences, but without a loss in terms of belonging, we are all accumulated and united but our passion” IT5R2	Collaboration and creation
“Generates conversation, exchange of ideas, the social world in general lives on community” FR7
“One of the most critical aspects of communities are incorrect activities and risks associated with NFTs, scams and the like, as well as outright scams and illegal activities” IT6	Collaboration and creation			Bullying
“They could exclude you, because you are not “mature enough”” IND4
“While on Discord it is messy, and they also seem much more bullying persons.” FR1
“They have this cult and could be transformed in a negative thing with damage for the member” IND5	Fanatism
“I preferred when there were fewer people and really knew and truly believed in NFTs” IT3
“They spread fake information. So, I do not trust. I am using Facebook, Telegram, Instagram, sometimes X as well. I prefer X after that Facebook. Because it is really common and easy” IND 7	Easy and safe	Influence of different channel
“Instagram is for promoting and showing, X is like Instagram but more suitable for discussions, Discord is a mixture, much more speculative, more immediate than X They are not very open to dialogue. Those on social media follow quieter and more traditional social policies than such media.” FR1	Speculative and chaotic
“On Discord, you can just hide your identity and you just do whatever you want to, is more speculative and commercial, on specific projects” IND7
“For example, some communities publish privileged information that facilitates the members of the community but that damages the market. These are real market manipulations” IT6
“On YouTube and Twitter, I simply don’t express myself, like, I don’t want to Instagram is more for artists as twitter. They’re not platforms that lend themselves to that kind of exchange.” FR5	Specialization
“If you had asked me this question some years ago, maybe I would have said no, but because today there is a lot of awareness and the UN talks about this, so I am also concerned” IND1	Energy consumption	Environmental	Sustainability issues
“Unfortunately, I don’t look at the problem in terms of technology, but I think it’s bitcoin that consumes a lot of energy but it’s a question of thinking about how to reduce this consumption. There are CSR reflections on it, but I want to say is it worse than all the cars with their exhaust? Is it worse than the consumption of households in heating, of factories?” FR5	Energy consumption	Environmental	Sustainability issues
“It is a problem, and I know that Ethereum which has more critical issues, is working to solve it by switching to another” IT3	Blockchain protocol
“They really consume a lot and some operators themselves are considering how to optimize for example, changing the POW and POS” IT12 “They are a problem, they should invent them with zero impact but passing on the blockchain in the end wouldn’t cancel this effort.” FR2
“The NFT does not guarantee to be CSR, it is CSR depending on the blockchain that is chosen behind it and what it replaces or those” FR3
“They are a problem; they should invent them with zero impact but passing on the blockchain in the end wouldn’t cancel this effort. I think it should change the way energy is taken, create farm companies that have sustainable systems, harnessing the hydroelectric power of waterfalls and go with renewables, even if only a percentage initially. If this type of structure did not have high costs, I would also be willing to pay a little more. The energy transition should be implemented in all fields” FR2	Find alternative solutions
“The NFT does not guarantee to be CSR, it is CSR depending on the blockchain that is chosen behind it and what it replaces or those, the new ones replace nothing for valuation that creates new value. But if they replace the concert ticket, we can make comparisons” FR3	Find alternative solutions
“There are many aspects that can be improved for the environmental impact in our life, but no One puts in place, there are major problems that should be improved first, it is not the most critical aspect” IT3	Neutralization techniques
“Well, let’s put things in perspective! It is mankind. If we do not pollute with NFTs, we will pollute with something else. If we go on like this, in 20 years we will implode” IT 2	Neutralization techniques
“You have to be careful of the codes and the risk that by making a mistake the wallet will lose for ever, this is connect to non-mortality of the data, it becomes extinct and does not create digital junk. For example, Facebook is full of dead data” FR5	Data immortality and digital junk	Social
“Many projects like us give something for charity and give something back in terms of sustainability, e.g. for children, communities, I am concern if they are pure or not” IT10	Charity
“I see also Save the Children use for sustain their actions, its original” IT6R2	Charity
“We have to remain updated because all these technologies could substitute us, our role in security, in certificate, thinks to lawyer or at all timestamping related jobs” IT4	Work reconfiguration
“I am afraid to be substitute from all these technologies, I am also a gallerist so I think they could substitute our role, surely reconfigure” IT6	Work reconfiguration
“The sustainability and social responsibility are like the government should come into it and they should regulate. We don’t know who is actually regulating these assets” IND7	Regulation turmoil	Governance
“Yes! there is a governmental subject, there is what we call the DAO. So governmental in the societal sense, in the sense of democracy in the sense. Putting in place a system that is socially responsible” FR6
“So in India, as I said, there’s some tax regulation issues around both crypto and NFTs, there is turmoil, those who are afraid and those who take advantage of it also enterprises” IND 5
“There will be important also in terms of regulation in and between countries” IND8
“Is a problem also in how and if declare and pay taxes” IT12	Responsibility
“Once you’ve bought an NFT, are you subject to some form of value added tax because it’s a transaction that should be taxed. Is there any taxation? How do I have to declare this? And companies? It’s not clear.” FR2
“In the years to come, it will be very useful, that it will be regulated, that there will be a little less aberration” IT4_R2
“Cryptogaming involves using your NFTs. You can use your character with those characteristics” IT10	Games and play to earn	Web 3.0	Technological examinations
“I would say I would invest in fantasy gaming because, yes, I was a, you know, I’m a fantasy gaming enthusiast and I invested a lot of money into it and I got some return as well.” IND7
“I see them closely linked to the metaverse because they are used to buy items and to increase the characteristics of their avatar and play better. Gamers, however, have already lived in the metaverse for years, it will be more evolved. I’m a bit scared to find myself in Ready Player One but I welcome it.” IT 6
“well is also strictly related to play to earn dimension” IT 5 AND IND 4
“In metaverse NFTs are an abstraction of an abstraction, take for example decentraland, i have the representation of a land and NFTs is the abstraction that give me property, maybe something is changed, for example gold doesnt’ have any value but we decide to give it a value of richness and we posit as monetary benchmark, they are abstraction” IND2	Features
“Is a way to being globally recognizable” FR3
“It’s a good for us that’s more tangible intellectually.” FR4
“I don’t know if you’ve seen Ready Player One, if our real world is unlivable then it will be the only way, going digital will be a loophole.” IT9
“We have a whole system with metaverse where we come. We’re mixing all the possible worlds of digital technology. And as such, we’re going to see more and more things coming out of musicians that include NFT and crypto currencies, and with video games or geek culture, more generally” FR5
“Intangibility, on the other hand, does not scare me, on the contrary it gives me new ideas. Even my parents give me this speech that they see nothing behind it, but this is a wrong thing. You have your money on your credit card, do you see it? No, so what is different? People of older generations can’t understand it. Few have believed in the new technology and have lost the opportunities they are behind it.” IT10
“Maybe users can customize their avatars. Like in today’s world their own avatars and virtual spaces.” IND 8	Avatars	New digital worlds
“maybe users can customize their avatars. Like in today’s world, people are making their own avatars and virtual spaces” IND7
“I’m going to dress my avatar, or I’m going to furnish my apartment in my virtual world.” FR4
“A certain number of NFTs, these NFTs, you are going to use in a metaverse either as NFTs that allow you to change your avatar, such as shoes” IT3_R2
“Maybe the movie Ready Player One. A virtual environment where I can access with viewers or similar, where your avatar moves on multi-platforms, always the same, always myself but on different worlds. The problem is that every company wants to create its own metaverse, so the NFT if I can use it on all platforms then it will have a much more real and higher value than other NFTs. It is still very smoky” IT4
“In metaverse NFTs are an abstraction of an abstraction, take for example decentraland, i have the representation of a land and NFTs is the abstraction that give me property, maybe something is changed, for example gold doesnt’ have any value but we decide to give it a value of richness and we posit as monetary benchmark, they are abstraction” IND2	Metaverse
“The metaverse is very connected. 50% of NFTs will be tied to it, anyone who wants their character to be seen or not to be confused” IT10
“NFTs are the building block of Metaverse” IT13
“A certain number of NFTs, these NFTs, you are going to use in a metaverse” IT3_R2
“If we all lived in the metaverse in One generation we would be extinct.” IT3
“I see them closely linked to the metaverse because they are used to buy items and to increase the characteristics of their avatar and play better.” IT 6
“Think from a company, a Brand. Because they’re more reliable, very well established” IND8	Brand	Brand vs artist	Economic and business reflections
“I’m a short-term investor. I would prefer to buy from a brand, I have to be involved to support artist” IND5
“If I find an indie artist who sells cheaply, I will choose with the hope that he will then reevaluate himself. Is an investment to buy a beautiful thing and make money. I expect a more real benefit from a company, services and other options” FR2
“I would go for the artist instead of brand because when there is a brand, there are a lot of people involved into it	Artist
Brand is not a person. So, at the same time, if you are backing a person, so obviously maybe you admire that person or maybe there are some qualities of that person that attracts you.” IND7
“Support a digital artist that I admire, also as a long-term investment, hoping it appreciates in value. An artist because I value artistic expression and originality more. An artwork has a deeper and more personal meaning compared to a branded product.” IT3_R2
“My point of view is that the cryptoeconomy cuts through intermediaries and the use of banks to make transactions, such a thing from the state point of view is a big problem because it forces us to completely rethink the concept of economy.” Int 7	Freedom and decentralization	Reconfiguration of the economic system
“If with decentralization we want to avoid paying sums that we would have paid with banks and other operators, knowing that there are gas fees here too does not mean that in future we will not find ourselves in the same mechanism as today” FR3
“Blockchain technology is used to get rid of the influence of central banks, We’re getting more into, let’s say, the dematerialization of exchanges and as soon as there’s a property to be exchanged,” FR4
“But what I’m going to say instead is all those that are backed by the decentralized virtual world. Uh, yes, there’s a sense of freedom or there’s no authority that’s going to say. who’s going to say well who’s going to dictate how it should evolve or how to set a price? And all that? The price is set by the public” IT12
“If I have to talk about everything that will revolve around crypto-currencies, it’s more about breaking the big dominant orders. Whether it’s in finance, in data management, in all these principles, we give back a little bit of freedom to the users and it allows us to avoid big monopolies that impose their way of doing things, which sometimes is ethically borderline or a bit aggressive” FR3	Value perception
“There you don’t even have the perception of how much it’s worth in real money.” IT5
“So suppose I say they want to inflate money, the government can control it now, right? Isn’t it? Yes. If they want to inflate, yeah. But with blockchain technology or if you adopt a global currency, it’s really hard. You cannot control on like the inflation, like it’s already coded like for Bitcoin. It’s coded like in 2040, there will be only a limited supply of coins. So it’s deflationary in nature and this could change the entire economic order. India is already working in make its cryptocurrency but let see” IND4
“Digitality is their added value. I don’t have to wait for the courier but I quickly buy the contract and I am entitled to service or work.” IT9
“The fact that they are digital is not a problem because they are my property, the blockchain gives me security and therefore I would trust to buy them.” FR1
“If I want to trade this NFT or I want to trade this art piece I would only look at the monetary aspects first, okay? But if I’m like a tech-savvy person or if I want to hold a piece of technology, then I would give more importance to its inherent value. Like, okay, suppose the artist, like One famous artist in my locality is making an NFT and he’s putting it on sale on the network.So I would give value to the person’s hard work and efforts initially, our personal relations, like Leonardo da Vinci,if his artwork is made an NFT, definitely it would price higher. But will I continue to hold it or not? I can switch off or I can sell it on a platform, crypto exchange or an NFT exchange.It has a multidimensional answer to this.If I’m a gamer and I’m holding something like a car or a racing, suppose it’s a racing game and there’s a racing car NFT that’s for sale. So maybe a hedonic and social also on this side, an aesthetic and last monetary.”IND5
“My point of view is that the crypto economy cuts through intermediaries and the use of banks to make transactions, such a thing from the state point of view is a big problem because it forces us to completely rethink the concept of economy.” IT7
“Would trust to buy them if there was a price-value reference point” IT 5	Transparency
“Once these blocks are created, all the information you find on the blockchain is transparent to everyone. It means that you can trace from the starting point to the end point everything that happened with this NFT. So basically, that’s it. The advantage is that when you buy an NFT, you can have access to its entire history” FR5
“when I said transparency, I think that brings me back to the same point that how are you ensuring that the principle the whole world is based on in the NFT is based on authenticity and transparency?” IND8
“NFTs is what that allow to exchange the value of the crypto, we have coin, now we could have contracts and product to trade” IT1	NFT opportunities due to the link with cryptocurrency	Link with crypto currency
“Well, the point is, if you want to be a purchaser, you have to trade in cryptocurrency” IND1
“The common thing is that both are declared on the blockchain, they are like Two means of transport traveling on the same road, blockchain the road, cryptocurrency is fuel and NFT a motorcycle.” IT10
“With integrated metaverse and experiments on these technologies will now be almost outdated and we will move towards that, if now they lose value from the bursting of the bubble, they will not lose their importance” IT7
“If I have to talk about everything that will revolve around crypto-currencies, it’s more about breaking the big dominant orders. Whether it’s in finance, in data management, in all these principles, we give back a little bit of freedom to the users and it allows us to avoid big monopolies that impose their way of doing things, which sometimes is ethically borderline or a bit aggressive” FR6
“For example, both are volatile, but their value does not vary equally. For example, in NFTs, there is a floor price that varies and cryptocurrency has little to do with it” FR1
“Cryptocurrency is the speculation of the poor.” FR3	NFT concern due to the link with cryptocurrency
“They are for who want to make money easy and in short time and for who that own money but want to demonstrate something” IND2
“They are Two tokens, most also in cryptocurrencies are also tokens. I see them as Two separate things. There is trading and there is the NFT market. In NFT there is a lot, there is collecting, speculation, cash-washing, there are many things” Int 23
“Membership yes, Royalties if I were a producer or participant in some part, even if it is very much linked to the concept of network marketing and Ponzi scheme, a sort of chain markup that I don’t like.” IT4
“Yeah, they initially like this, how this technology works out there, how this Ponzi scheme in NFTs or blockchain technology works. You’ll put this 2,000 expecting 4,000. But what would happen? You will lose all your $2,000 and you’re out of the game. So gathering customer trust in NFTs has been a big problem” IND4
“NFTs can reflect my personal interests, artistic tastes, and support for certain artists or cultural movements. They can represent an extension of my digital identity” IT3R2	Self-affirmation	Identity building process	Identity
“It’s a personal process, not particularly constructed either. It was a bit of an exploration, like you read sometimes, articles on subjects to learn, to see what it was and so you adapt” IT6
“it’s serious, it’s your irrational path. Irrational in any case. Is temporary, it is the techno appetite. It’s, people who show up on the net and they don’t think anything of it.” FR3	Inclusion and opposition
“I also have a life outside: family, work, for me are an outlet and a pastime to always be with a window open to the future.” IT9
“the identity of an artist is a social construction. Whereas here, it is a social construction of the identity of being a good artist, an artist of great potential and communities of expert validate or nurture this credention. So I feel like, to connect NFTs to your identity, there should be a certain level of personal identification features or personalization for the technology” IIND3	Social construction
“When you are in a club or you are part of a group of people, or you are part of a tribe, of a community of people who like this product there and therefore a sign of recognition. Like a tattoo or things if not such or such clothing which allows to say. I am a surfer or a Harley Davidson owner, a biker…” FR4
“In my case I vent my artistic vein and then I have the opportunity to those who have many cryptocurrencies that if they like it they can buy it.” IT9
“Anonymity preserves but for us as users it is a danger, you can’t trust it.”FR6	Anonymity	Authentication
“I want to be recognized because I wear brands. It’s not just in your street, it’s not just in your neighborhood, is in the whole world! They could be an identity card, my key to digital. NFT allows for strict identification.” FR3	Recognition
“Now, the difference is that the artist puts a digital signature to his artwork. So, in good old days, you know, it is like Raphael putting a signature, you know, on his work.” IND 3
“You’re giving me a virtual ticket to a concert that’s becoming memorable, exceptional and a household name. And I can certify that it’s mine, that it’s real and better than that, I can post it in the virtual world that goes from the metaverse, to Facebook, Meta and Facebook now we’re in the same world and all of a sudden I can say I was there and the I was there It’s certified.” FR2
“I think they could be useful for authenticate objects, for example on my side I will buy if it allows to certify diamonds, there is a company that is starts to do that and we follow the process. I think could be interesting” IT 9
“There are many and they also join a cultural discourse that is very linked to the generations. Being exclusively digital, for example, I need something material so people are more reluctant to understand them. For example, younger generations being born and raised with this world are freer from this sense than older generations more likely to use them. By using apps and living online, they are used to exchanging virtual content and currencies, buying online, have a greater predisposition and see lower risks. Those aged 30 and over may be more interested in having the physical object in exchange for money. The attitude to consumption is different”FR5	Generational discourse
“I think there is a generational issue too. But I think that the younger people who are even more, who have grown up even more in virtual worlds than me, even if I was already the generation that was very much into video games. And all that, I think that they will value it even more. After the 2000s, because they’re used to being on their phones all the time living life through,chatting, see the proposed image and reels mediated by a digital device”IT6
“People of older generations can’t understand it. Few have believed in the new technology and have lost the opportunities they are behind it.” IT10
“It is a digital identifier,could be a piece of art or something that can be tokenized or for example as passport or for tourism certificate” IND1	Digital identifier	Digital asset	NFTs perception
“it’s a type of a data asset which definitely represents the ownership or in some cases a proof of authenticity of a unique item or a price. Currently very famously, you know, it is linked to art, music, videos, you know, that sort of stuff” Ind.Int.8
“So the NFT was a certificate that certified that that car had been subjected to, I don’t know, a radiator change and the NFT, let’s say, recorded on the blockchain the change that occurred on that piece of car.” IT4R2
“I see it as a financial instrument. So it’s subject to volatility” IT17	Investment
“NFTs are often seen as a new form of investment, akin to collectibles or digital assets. Indian consumers interested in wealth accumulation might view NFTs as a potential investment opportunity” IND7
“I don’t see it as a means of having liquidity, perhaps real liquidity. So it’s an investment. An investment, I’ve always seen it either in cryptocurrencies like NFT” IND3
“There is this way of certifying is being extracted as far as diamonds are concerned and anyway it’s a very difficult environment also, so probably investing in diamonds and obtain a NFT certificate give me more trust”IT2R2
“Well it is a multidimensional concept if I’m a trader, I only think in terms of return.So monetary aspect would come first	Art object
“The painting that you will have made in virtual with an NFT tag. In a million years, it will be the same as the paintings that are worth a certain value in museums today and there is a perenniality. There is something which makes that, except if you decide to destroy it or to make it disappear. Today, some artist’s works disappear through fire, war, theft. I see more the principle of recognition, a bit like the art collector, or the NFT collector at night, it’s true that it’s fun, afterwards it’s really playful..”FR2
“We reason that at the moment they are only digital art forms” IT12
“An NFT in my opinion is a unique and irreprintable certificate, i.e. if I have an object whose authenticity I want to certify, I can easily do so, giving it an NFT, also because they exploit blockchain “technology, so there are no problem.” IT3R2	Uniqueness	Potentialities and concern
“The NFT is deeply philosophical. Yeah, it is deeply philosophical. It’s a question of the rarity feeling that this is the only One. I got a digital signature. See, I think digital blockchain NFT and smart contracts, these are telling artists they are trying to raise the rarity value of that art much more than what is there in the physical world. The moment I start circulating it, then the whole purpose of holding that is gone because it is no longer rare. So it creates greater exclusivity than today, NFT, because there is no scope for exhibiting it at any point. Now look at most of the Guggenheim or any top museum in the world, it is contributions of a lot of rich people. Rockefeller had put his personal collections now into Guggenheim and today everybody appreciates it, before was restricted, only for “special people.” But what happens in NFT? It doesn’t happen that way. Rockefeller wants to give it, he’ll say, okay, take an image of it.” IND2
“So for us, NFTs are basically as a concept, it’s like something that you cannot replicate, it can’t be anything. For example, art pieces that are sold on OpenSea or for example, the kind of stuff we use in video games like CSGo.” Ind. Int 5
“They are an empty box, you decide how to refill” IT5_R2
“There’s a whole aspect that I didn’t mention: speculation. In fact, there’s a whole speculative market around NFTs.” Int.19	Risks
“The risk of the NFTs is the speculation in fact. Finally, art is only a pretext, somewhere, to speculate.” Int.16
“Short-term speculation that has failed to appreciate its technological fundamentals. Adoption is facilitated by a wider range of use cases to be grounded.” IT4R2
“They are for who want to make money easy and in short time and for who that own money but want to demonstrate something” IND1
“So unless and until we have a proper mechanism to regulate or like we don’t know who is actually manipulating it. That is literally creating more volatility, variation in prices on that’s also creating an adoption hindrance.” IND 5

Source(s): Authors’ own work

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