Why people purchase NFT digital collectible: An integrated model

The rise of the metaverse has attracted the attention of scholars and practitioners to NFT digital collectibles as a new opportunity to engage consumers. However, most studies have focused on the financial and technological aspects, while the psychological and behavioral reasons behind digital collectible purchases remain limited. In light of this, the study employs the theory of planned behavior (TPB) as a research framework and develops an integrated model that includes product attributes, perceived value, perceived behavioral control, and subjective norms. Structural equation modeling (SEM) path analysis and multi-group analysis (MGA) are used to analyze data from 271 samples, revealing the intrinsic psychological mechanisms of NFT digital collectible purchases from the perspectives of perceived value and product attributes, including direct effects, mediating effects, and demographic heterogeneity. This study contributes to the literature on virtual goods, NFTs, consumer value theory, and TPB theory, and also provides practical implications for NFT digital collectible practitioners and designers.