New Research Published: Dr. Quan Xie and Team Unveil the Psychology Behind Branded NFTs

 

In the ever-evolving landscape of marketing and digital innovation, non-fungible tokens (NFTs) have taken center stage. Dr. Quan Xie, a professor at the Temerlin Advertising Institute, has been at the forefront of NFT research, collaborating with fellow TAI professors Dr. Sid Muralidharan, Dr. Steve Edwards, and Dr. Carrie La Ferle in various capacities across three published articles. Together, they have unveiled the relationships between consumer behavior and branded NFTs, shedding light on the dynamics of this emerging trend. Their research delves into the intriguing world of non-fungible tokens (NFTs) and their increasing influence on marketing strategies.

The allure of branded NFTs has captured the imagination of marketers and consumers alike. As innovative companies experiment with these digital assets as part of their marketing strategies, understanding the psychological responses of consumers, particularly the younger generation, has become paramount. This is where the pioneering research conducted by Dr. Quan Xie and her team at the Temerlin Advertising Institute comes into play.

Dr. Quan Xie’s first article, published in July of 2023 in the Journal of Research in Interactive Marketing was titled, “It’s a comparison game! The roles of social comparison, perceived exclusivity and perceived financial benefits in non-fungible token marketing.” This work was done alongside Dr. Sid Muralidharan. This in-depth research has a high impact factor and answers some of the most pressing questions surrounding what drives the buzz for non-fungible tokens (NFTs) and their growing role in marketing strategies. Dr. Xie and Dr. Muralidharan’s publication delves into the heart of the matter, and unpacks the fascinating relationship between consumer personality traits and their interaction with NFTs. Dr Xie notes that the forefront of her research is “the concept of Social Comparison Orientation (SCO) and how it shapes our perceptions of exclusivity, financial gains, and the overall NFT experience.”

Through rigorous experiments involving over 1,000 participants, Dr. Quan Xie uncovered the nuances of how NFT users make social comparisons. She often found that users gravitated towards branded NFTs that guaranteed both social prestige and economic benefits. The study notes that this subsequently impacted consumers’ experiential evaluations, willingness to purchase NFTs and brand loyalty.

“The allure of NFTs isn’t just in their uniqueness, but in the social and financial superiority they bestow.” This groundbreaking research, rooted in social comparison theory, offers brands a new lens to optimize their NFT marketing campaigns, driving both sales and loyalty.” – Dr. Quan Xie

Her next article was published in September in the International Journal of Advertising, a highly-ranked journal in the advertising discipline, and is titled, “Who will buy the idea of non-fungible token (NFT) marketing? Understanding consumers’ psychological tendencies and value perceptions of branded NFTs.” For this article, she once again worked alongside Dr. Sid Muralidharan but also garnered the help of Dr. Steve Edwards. Together they sought to better understand consumers’ psychological responses to branded NFTs, with a specific focus on Gen-Z and Millennials in the realm of blockchain technologies and the Metaverse.

This study was based on a robust U.S. sample of young participants and uncovered the core values driving these consumers towards acquiring and showcasing these digital assets.

“Our findings reveal the intricate web of information, unique, entertainment, and expressive values that stoke their desire for status consumption and inherent innovativeness, fueling positive word-of-mouth (WOM) for brands. Interestingly, for those financially constrained, the lure lies in the unique value that NFTs present, a crucial determinant for sparking positive WOM,” Dr. Xie noted.

Dr. Quan Xie’s work is not just about theory but also about practical implications. The research emphasizes how NFTs can be invaluable to both brands and consumers, bridging existing research gaps and offering real-world applications. This research can be applied in a variety of different ways and is relevant to marketers aiming to capture this vibrant demographic or even policymakers seeking insights. It offers a comprehensive understanding of the psychological play behind branded NFTs.

The most recent article was published on October 27th in the Journal of Interactive Advertising. Dr. Quan Xie, Dr. Sid Muralidharan, Dr. Steve Edwards, and Dr. Carrie La Ferle worked in collaboration to publish their research titled, “Unlocking the Power of Non-Fungible Token (NFT) Marketing: How NFT Perceptions Foster Brand Loyalty and Purchase Intention among Millennials and Gen-Z.”

Although this research focused on similar demographics, it explored the impact of the perceptions of branded NFTs on consumers attitudes and behaviors toward both the NFTs and the brand. The study used the technology acceptance model and the theory of reasoned action to explain how NFT perceptions influence evaluations, willingness to purchase, brand attitude, and ultimately brand loyalty and purchase intentions. This research represented one of the first empirical studies in this area.

Dr. Sid Muralidharan emphasizes the significance of their findings, saying,

“Dr. Quan’s timely research on NFTs provides insights on a burgeoning area of cryptocurrency. The resulting models stem from theory and highlight how NFTs can be invaluable to both brands and consumers. Not only do the studies address research gaps but offer real-world implications.”

The exploration of consumer perceptions regarding branded NFTs is a groundbreaking area of study. Dr. Quan Xie, along with her colleagues, has not only bridged research gaps but also offered a fresh perspective for marketers aiming to connect with the ever-evolving Gen-Z and Millennial audience. Their work highlights that branded NFTs are more than just digital collectibles; they hold the key to unlocking consumer engagement, brand loyalty, and a deeper understanding of the consumer mindset.

As the world of NFTs continues to expand, the research by the TAI team serves as a guide for businesses and policymakers. They have provided a comprehensive understanding of the factors that drive consumers towards branded NFTs, ultimately helping marketers tailor their strategies for better engagement. Their work highlighted the importance of NFTs in modern marketing and the evolving landscape of blockchain technology.

TAI TAKES HOME 30 AWARDS AT THE DALLAS ADDYS

Written by: Stella Cofoid

“The weight and distinction of these awards are marked not only by the talents of the students, but also by the win over many large and world-renowned agencies that were also in direct competition” 

Amongst the extraordinary, with an extravaganza to match, the annual ADDY’s was held on February 26, 2022. An exuberant and staggering 30 of the 38 student awards were awarded to Temerlin Advertising Institutes undergraduates at the annual symposium. Students took home twelve bronze awards, twelve silver, five gold, and the “Best of Show” award. TAI’s students, amongst professionals and other institutes of higher enrollment, was the only undergraduate program to take home a gold award. The weight and distinction of these awards are marked not only by the talents of the students, but also by the win over many large and world-renowned agencies that were also in direct competition from the Dallas-Ft-Worth metroplex.

When asked about the distinction and rigor of this competition, undergraduate professor Dr. Mark Allen stated that he was “very proud of this group of students and my TAI colleagues who have helped nurture our small-but-mighty program.” Dr. Allen pays special tribute to Willie Baronet and Cheryl Mendenhall, as it is through their creative guidance that “Temerlin continues to punch in a much heavier weight class than our size would typically allow. What other universities attempt to do with hundreds of students and dozens of faculty, we’ve been able to accomplish with a highly-skilled “special ops” group,” Dr. Allen states.

The praise won’t stop here. The winners of these awards will move to the District Ten competition, of which include all finalists from Texas, Louisiana, Arkansas, and Oklahoma. From there, Nationals will follow suit showcasing the best talent from across the United States on both the undergraduate and professional level. 

Congratulations to the following Dallas ADDY Winners for 2022. You are a part of what gives Temerlin its astute distinction and credibility in such a subjective field. 

Bravo! 

 

DALLAS ADDY WINNERS 2022

BRONZE / Dallas Ballet Academy > Out-Of-Home Campaign

Ceci Luther and Thida Sok

 BRONZE / Hearing Loss Association of America > Integrated Campaign

Ethan Rios, Ra Kazadi, and Thida Sok

 BRONZE / Inkbox Temporary Tattoos > Magazine Advertising

Anika Crouser and Sophie Heidenreich

BRONZE / Temerlin Advertising Institute > Out-Of-Home Poster Campaign

Tessa Conti

 BRONZE / Lodge Cast-Iron Skillets > Integrated Campaign

Caroline Soja and Ceci Luther

 BRONZE / QuadPay: Indulge Yourself > Art Direction

Natalie Castillo

 BRONZE / Story Corps / NPR Podcast > Out-Of-Home

Brittany Cooksey and Grace Peek

 BRONZE / Temerlin Advertising Institute > Art Direction

Tessa Conti

 BRONZE / Divorced Beheaded Died Survived > Book Design

Sarah Scambray

 BRONZE / US Postal Service: Through it All > Magazine Advertising 

Ethan Rios and Palmer Beldy

 BRONZE / Ring Video Doorbell > Integrated Campaign

Ra Kazadi

 BRONZE / Sabrina Handal Business Card > Stationery 

Sabrina Handal

 SILVER / Trust & Will Online Estate Planning > Integrated Campaigns 

Elizabeth Skrmetta and Charlotte Jernigan

 SILVER / Apartments.com > Out-Of-Home

Maggie Daly and Wolffe Bonewell

 SILVER / Obsessed with the Beard Feature > Publication Design

Sarah Scambray

 SILVER / Protect Your Hearing PSA > Out-Of-Home

Ethan Rios, Ra Kazadi, and Thida Sok

 SILVER / Protect Your Hearing PSA  > Magazine Advertising

Ethan Rios, Ra Kazadi, and Thida Sok

 SILVER / Trust & Will Online Estate Planning > Copywriting 

Elizabeth Skrmetta and Charlotte Jernigan

 SILVER / Angi’s List > Magazine Advertising

Alexa May

 SILVER / Apartments.com > Copywriting

Maggie Daly and Wolffe Bonewell

 SILVER / Dad Grass: Low Dose Hemp Joints > Integrated Campaign

Sarah Scambray and Sam Zimmerman

 SILVER / Gabb Wireless Phones for Kids > Copywriting

Helen Cheever

 SILVER / Girl Scouts > Magazine Advertising 

Meriel Upton and Olivia Hernandez

 SILVER / Half Price Books > Integrated Campaign 

Sarah Scambray, Palmer Beldy and Sam Zimmerman

 GOLD / LEGO: When did you stop building? > Animation or Special Effects 

Elizabeth Skrmetta and Ethan Rios

 GOLD / LEGO: When did you stop building? > Television Advertising 

Elizabeth Skrmetta and Ethan Rios

 GOLD / LEGO: When did you stop building? > Art Direction

Elizabeth Skrmetta and Ethan Rios

 GOLD / The One Club: Pay Your Interns PSA > Integrated Campaigns

Grace Peek and Palmer Beldy

 GOLD / Waffle House: Your House Away From Home > Integrated Campaigns 

Megan Ferm and Brooke Betik

 BEST OF SHOW / LEGO: When did you stop building? 

Elizabeth Skrmetta and Ethan Rios

Best of Show winners Ethan Rios and Elizabeth Skrmetta with professors Willie Baronet and Mark Allen

 

 

 

 

 

 

 

 

Watch the ‘Best of Show’ ad here: https://vimeo.com/654037863

Advertising Executive Gordon Law Named New Temerlin Interim Chair

GordonLaw_Headshot

By: Sarah Jane Eckelkamp

Gordon Law, Dallas advertising and marketing executive with over 40 years of experience, has been named interim chair of the Temerlin Advertising Institute at SMU Meadows School of the Arts.

Law began his career in education with SMU in 2011. After eight years of being an adjunct and two years of being a visiting professor of practice, he cannot imagine his life without teaching and feels this is where he is meant to be. Professor Law will continue to teach several classes on various topics, including Internet and Mobile Advertising, Advertising Media, Digital Media Strategies, and Strategic Brand Management.

“Teaching is the absolute greatest blessing I have had in my professional career: The classroom is my happy place, and being in a position to help my students and fellow faculty in and outside the classroom is what I enjoy most,” said Law.

After graduating from Oklahoma State University with a degree in advertising and public relations, Law began his professional career and has had the opportunity to work with several national advertising agencies: Moroch, Grey, Backer & Spielvogel, and Bozell. For the past six years, he has served as president of Swimming Duck, a marketing and media service based in Dallas. He has also lent his expertise in media strategies, agency management, business, and brand development to other regional agencies like Keller Crescent Company; Hadeler, Sullivan & Law; and Slingshot.

Law’s hopes for this new role are high, and after being in business for more than four decades, he is excited to step into a position that consistently gives him new perspectives to learn while also providing him the honor of teaching. Students have shared their excitement for his increased involvement in the Temerlin Advertising Institute, and we are delighted to have someone with such significant experience overseeing our operations.