Non-fungible token-enabled entrepreneurship: A conceptual framework

Non-fungible tokens (NFTs) have taken the world by storm. Initially started as an art/game experiment, the NFT has given rise to a new form of entrepreneurship in the virtual world with massive opportunities and affordances. However, research into the entrepreneurial aspect of NFTs and the role of a...

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Bibliographic Details
Published inJournal of Business Venturing Insights Vol. 18; p. e00323
Main Author Chandra, Yanto
Format Journal Article
LanguageEnglish
Published Elsevier Inc 01.11.2022
Subjects
Enabler
Entrepreneurship
NFT
Non-fungible token
Virtual
Non-fungible token
Virtual
NFT
Entrepreneurship
Enabler
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Summary:Non-fungible tokens (NFTs) have taken the world by storm. Initially started as an art/game experiment, the NFT has given rise to a new form of entrepreneurship in the virtual world with massive opportunities and affordances. However, research into the entrepreneurial aspect of NFTs and the role of agency in the process is limited. In this article, I examine the concept of NFT-enabled Entrepreneurship (or NFTE). I first identify the main characteristics of NFTs, then define NFTE and discuss the related assumptions, and finally propose a conceptual framework for NFTE and investigate its enablers. I conclude by proposing NFTE as a novel domain of entrepreneurship theory and practice with extensive new research opportunities, and the plausibility of using NFT as an alternative mode of knowledge production in which scholars become “NFT creators.” •NFTs are the newest arrivals in Web 3.0•NFT is an external enabler of entrepreneurship.•Identifying the characterizing and assumptions of NFTs.•Defining NFT-enabled Entrepreneurship (or NFTE).•Proposing a conceptual framework for NFTE and investigating its enablers.
ISSN:2352-6734
2352-6734
DOI:10.1016/j.jbvi.2022.e00323