Exploring Consumption Behavior of Digital Assets in Esports: The Influence of Esports Identification

Abstract

Digital assets have garnered widespread attention for their potential to generate revenues. Grounded in innovation diffusion theory, this study investigated the adoption behavior of esports consumers as it pertains to the application of digital assets, especially non-fungible tokens (NFT) in-game items (i.e., virtual skins and items). The purpose of this study was to explore the relationships among innovation adoption, esports identification, and purchase intentions. With a sample of 309 esports gamers, confirmatory factor analysis and structural equation modeling were performed to test the measurement and hypothesized paths using R-Studio. The results revealed that the innovation adoption of digital assets had a significant impact on purchase intentions. In addition, esports identification was positively associated with purchase intentions, and the moderating effect of esports identification was identified. This novelty of digital assets such as NFTs and their increasing popularity in digital culture will continue to shift public perceptions of digital assets in esports industries. This study has originality and value in that it sheds light on the impact of the adoption behavior of esports consumers in relation to NFT-based in-game items.