The polychotomy of NFT ownership: Motivational heterogeneity and underlying drivers

We investigate the motivations behind non-fungible token (NFT) ownership. Utilizing survey data from NFT owners, we identify four distinct groups based on their primary motivations: (1) Utilizers, who emphasize functional uses; (2) Socializers, motivated by community and networking; (3) Speculators, focused on profit potential; and (4) Aesthetes, who appreciate artistic and cultural aspects. Our analysis indicates that individual traits such as risk-taking, impulsivity, and investment knowledge significantly influence group membership. These findings suggest that NFT users are a diverse cohort with varied motivations rather than a homogeneous group. • Identified four NFT owner types: Utilizers, Socializers, Speculators, Aesthetes. • Traits like risk-taking impact NFT group membership. • NFT users vary widely in motivations, not a uniform group. • Study combines survey data and exploratory factor analysis.