BASIC DARK PRESENTATION

Investigating the effects of purchased counterfeit non-fungible tokens (NFTs) on consumers' perception and brand image.

Michaela Olivier ST10111252

Table of Conents

1. Problem Statement

8. Key Concepts

2. Purpose Statement

9. Provisional Research Approach

3. Research Questions

10. Provisional Research Plan

4. Research Objectives

11. Ethics

5. Rationale

12. Limitations

6. Key Theories

13. References

7. Literature Review Themes

Problem Statement

When a consumer purchases a counterfeit NFT it can affect brand image (Wang, Li, Wang, and Chen, 2021).

Figure 1: Storey, A. 2022. Digital Art. (Storey, 2022)

Purpose Statement

To investigate the impact on brand image when a consumer purchases a counterfeit NFT.

Figure 2: Talkative. 2021. Customer Perception. (Thomas, 2021)

Research Objectives

Research Questions

1. To determine if purchasing counterfeit NFTs has a negative effect on the brand image of consumers.

1.1. To describe the relationship between counterfeit NFTs and brand image.1.2. To identify how brands can prevent their NFT art from being counterfeited.

1. Does purchasing counterfeit NFTs affect brand image?

1.1. Would a change in brand perception affect consumer purchase decisions?1.2. How does a brand prevent its NFT from being counterfeited?

VS

Negative effect on brand image when a counterfeit NFT is sold under the brand's name (Aaker and Joachimsthaler, 2000).

Rationale

Brand Image

Key Theories

(Aaker and Joachimsthaler, 2000)

The two theories that are relevant to this research study are brand image and counterfeit goods (Aaker and Joachimsthaler, 2000; Higgins and Rubin, 1986; Bird, Channon, and Ehrenberg, 1970).

Counterfeit Goods

(Higgins and Rubin, 1986)

Counterfeit Goods

(Bird, Channon, and Ehrenberg, 1970)

Literature Review Themes

NFTs

Brand Perception

• Wang et al., 2021
• Das, Bose, Rural, Krueger, Vigna, 2021
• Chalmers, Fisch, Matthews, Quinn, and Recker, 2022
• Herian, Di Bernardino, Chomczyk Penedo, Elul, Ferreira, Von Goldbeck, Siadat, and Siedler, 2021
• Schroeder-Rank, 2021

Counterfeit

• Chernysh, 2019
• Higgins and Rubin, 1986
• Lee and Yeon, 2021
• Scandizzo, 2001

• Vasan, Janosov, and Barabási
• Bird, Channon, and Ehrenberg, 1970
• Szilagyi, 2021

Key Concepts

Cryptocurrency(Mukhopadhyay, Skjellum, Hambolu, Oakley, Yu, and Brooks, 2016)

NFTs(Wang et al., 2021)

Blockchain(Wang et al., 2021)

Counterfeit NFTs (Das et al., 2021)

Brand Image(Išoraitė, 2018)

Provisional Research Approach

Approach

Paradigm

• Qualitative
• Opinion of consumers
• (Strydom and Bezuidenhoud, 2014)

• Interpretivism
• In this study the use of epistemology and ontology will be used.
• (du Plooy-Cillers, 2014; Nieuwenhuis, 2019)

Provisional Research Plan

01

02

03

04

Data Collection

Population

Sampling

Data Analysis

• Non-Probability

• Convenient Sampling
• Purposive Samplng
• (Pascoe, 2014)

• Population
• Target Population
• Accessible Population
• (Pascoe, 2014)

• In-Depth Interviews
• General Interview Approach
• (Strydom and Bezuidenhoud, 2014)

• Discourse Analysis

• Codes
• Themes
• Conclusions
• (Dudovskiy, 2022; Bezuidenhoud and Cronje, 2014)

Ethics

• Receiving Consent
• Offering Confidentiality
• Avoiding Researcher Bias
• (Louw, 2014)

Figure 3: MITSloan. 2020. Ethics. (Smith and Pepe, 2020)

Limitations

• Access to Information
• Short Time Period
• (Enslin, 2014)

REFERENCES

Aaker, D.A., and Joachimsthaler, E. 2000. Brand Leadership. London: Simon & Schuster UK Ltd.Bezuidenhoud, R. and Cronje, F. 2014. Qualitative data analysis. In: du Plooy-Cilliers, F., Davis, C. and Bezuidenhout, R.M. eds. 2014. Research matters. Claremont: Juta and Company Ltd, Chapter 16: 228-238. Bird, M., Channon, C. and Ehrenberg, A. S.C. 1970. Brand Image and Brand Usage. Journal of Marketing Research, 7: 307-314. [Online]. Available at: https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.452.7190&rep=rep1&type=pdf [Accessed 22 March 2022]. Chalmers, D., Fisch, C., Matthews, R., Quinn, W., Recker, J. 2022. Beyond the bubble: Will NFTs and digital proof of ownership empower creative industry entrepreneurs? Journal of Business Venturing Insights, 17: 309. [Online]. Available at: https://www.sciencedirect.com/science/article/pii/S2352673422000075 [Accessed 7 May 2022]. Chernysh, D. 2019. Blacklisting: A New Effective Digital Tool Against Counterfeit Sales Online (Legal Opinion). King's College London, 19(5): 20 pages. [Online]. Available at: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3627390# [Accessed 7 May 2022]. Conrad, M. 2022. Non-Fungible Tokens, Sports, and Intellectual Property Law Issues: A Case Study Applying Copyright, Trademark, and Right of Publicity Law to a Non-Traditional Ownership Vehicle. Journal of Legal Aspects of Sport, (32): 132-152. [Online]. Available at: https://journals.iupui.edu/index.php/jlas/article/download/26091/24187/49208 [Accesses 6 May 2022].

Das, D., Bose, P., Rural, N., Krueger, C. and Vigna, G. 2021. Understanding Security Issues in the NFT Ecosystem. Cornell University, 2(1): 1-17. [Online]. Available at; https://arxiv.org/abs/2111.08893 [Accessed 6 May 2022]. Dudovskiy, J. 2022. The Ultimate Guide to Writing a Dissertation in Business Studies: A Step-by-Step Assistance. England: research – methodology.net. Du Plooy-Cilliers, F. 2014. Research paradigms and traditions. In: du Plooy-Cilliers, F., Davis, C. and Bezuidenhout, R.M. eds. 2014. Research matters. Claremont: Juta and Company Ltd, Chapter 2: 29- 35. Enslin, C. 2014. Limitations, delimitations and recommendations. In: du Plooy-Cilliers, F., Davis, C. and Bezuidenhout, R.M. eds. 2014. Research matters. Claremont: Juta and Company Ltd, Chapter 19: 274-281. Herian, R., Di Bernardino, C., Chomczyk Penedo, A., Elul, J., Ferreira, A., Von Goldbeck, A., Siadat, A., and Siedler, N. 2021. NFT – Legal Token Classification. EU Blockchain Observatory & Forum. The Open University, Version of Record(79831): 1-14. [Online]. Available at: http://oro.open.ac.uk/79831/1/NFT%20–%20Legal%20Token%20Classification.pdf [Accessed 6 May 2022]. Higgins R. S. and Rubin P. H. 1986. Counterfeit Goods. Chicago Journals, 29(2): 211. [Online]. Available at: https://www.journals.uchicago.edu/doi/pdf/10.1086/467117 [Accessed 6 May 2022]. Išoraitė, M. 2018. Brand Image Theoretical Aspects. Integrated Journal of Business and Economics, 116-122. [Online]. Available at: https://core.ac.uk/download/pdf/234039221.pdf [Accessed 7 May 2022].

Lee, H., and Yeon, C. 2021. Blockchain-Based Traceability for Anti-Counterfeit in Cross-Border E-Commerce Transactions. Sustainability, 13(19). [Online]. Available at: https://www.mdpi.com/2071-1050/13/19/11057 [Accessed 7 May 2022]. Louw, M. 2014. Ethics in Research. In: du Plooy-Cilliers, F., Davis, C. and Bezuidenhout, R.M. eds. 2014. Research matters. Claremont: Juta and Company Ltd, Chapter 18: 262-273. Mukhopadhyay, U., Skjellum, A., Hambolu, O., Oakley, J., Yu, L., and Brooks, R. 2016. A brief survey of Cryptocurrency systems. IEEE, 745-752. [Online]. Available at: https://ieeexplore.ieee.org/abstract/document/7906988 [Accessed 7 May 2022]. Nieuwenhuis, J. 2019. Introducing qualitative research. In: Maree, K., eds. 2019. First Steps in Research. Hatfield: Van Schaik Publishers, Chapter 4: 56-76. Pascoe, G. 2014. Sampling. In: du Plooy-Cilliers, F., Davis, C. and Bezuidenhout, R.M. eds. 2014. Research matters. Claremont: Juta and Company Ltd, Chapter 11: 131-146. Scandizzo, S. 2001. Counterfeit Goods and Income Inequality. International Monetary Fund Institute, 13(2): 1-17. [Online]. Available at: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=879338 [Accessed 25 March 2022]. Schrader-Rank, A. 2021. How NFTs Influence Society: A Look at Scarcity Mindset, GenerationalGaps in Education, and the Impact on the Environment. EdArXiv, 1: 1-20. [Online]. Available at: https://edarxiv.org/2qyfv/ [Accessed 8 May 2022]. Strydom, A. and Bezuidenhoud, R. 2014. Qualitative data collection. In: du Plooy-Cilliers, F., Davis, C. and Bezuidenhout, R.M. eds. 2014. Research matters. Claremont: Juta and Company Ltd, Chapter 13: 173-194.

Szilagyi, T. 2021. Can blockchain technology improve brand loyalty? The University of Tampa. Institutional Repository. [Online]. Available at: https://utampa.dspacedirect.org/handle/20.500.11868/2107 [Accessed 03 April 2022]. Vasan, K., Janosov, M. and Barabási, A.L. 2022. Quantifying NFT-driven networks in crypto art. Scientific Reports, 12(2769): 1-11. [Online] Available at: https://doi.org/10.1038/s41598-022-05146-6 [Accessed 6 May 2022]. Wang, Q., Li, R., Wang, Q. and Chen, S. 2021. Non-Fungible Token (NFT): Overview, Evaluation, Opportunities and Challenges. Cornell University, 3(07447): 1-22. [Online]. Available at: https://arxiv.org/abs/2105.07447 [Accessed 6 May 2022]. Storey, A. 2022. How to Spot a Fake NFT: The Complete Guide. [Online]. Available at: https://postergrind.com/how-to-spot-a-fake-nft-the-complete-guide/ [Accessed 25 May 2022]. Thomas, C. 2021. Customer Perception: What it is and How to Improve it. [Online]. Available at: https://gettalkative.com/info/customer-perception [Accessed 25 May 2022]. Smith, C. and Pepe, P. 2020. Ethics or Compliance in a Crisis? [Online]. Available at: https://sloanreview.mit.edu/article/ethics-or-compliance-in-a-crisis/ [Accessed 25 May 2022].

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