Non-fungible tokens (NFTs) are revolutionizing the way that we define value and express ourselves in today’s digital age. NFTs are unique digital assets, powered by blockchain technology, which provide unique authentication in a domain that can be endlessly replicated, setting them apart from traditional digital media. Unlike the value of conventional products, which have fixed product attributes or firm messaging, the value of the NFT is continually negotiated and co-created through interactions between the brand, its community and the market. This introduces a new variant, specifically participatory value creation, in which tokenized ownership mediates co-creation, governance and value distribution, which is something we have never seen before with any other type of product.
This shift has unlocked new possibilities for personal identity, self-expression and community engagement, giving the power of value back to consumers and redefining how individuals connect with digital goods and with one another.
To uncover this developing phenomenon, Professor Myriam Brouard has received a Social Sciences and Humanities Research Council Insight Development Grant for her project titled “Extending the self online: constructing identities and co-creating value in digital goods through brand innovation and consumer engagement.” Her goal is to discover the factors that contribute to the variability of digital product value, the mechanisms behind brand-led innovation, and the psychological drivers behind digital ownership.
Professor Brouard will conduct qualitative research to develop a theoretical model of NFT value creation that incorporates insights from marketing, consumer culture theory and identity research. Her work aims to clarify how digital ownership is conceptualized, how NFTs function as extensions of the self, and how their value fluctuates over time in response to a brand’s actions and community interactions.
The impact of co-creating value
Brouard’s research will illuminate how brand and consumer interactions within blockchain-based environments shape value creation by examining how intangible digital goods become meaningful to individuals, communities, policymakers and regulators. This understanding will help better address the ongoing challenges of consumer protection, fraud prevention, and equitable market participation in emerging digital economies.
Furthermore, Brouard’s insights will allow for cultural institutions and businesses to adopt more responsible strategies for digital asset creation and management, fostering the development of ethical governance and consumer trust. This will support more informed and broader discussions around how digital technologies transform the concepts of identity, ownership and exchange.
Ultimately, Brouard’s research will help foster inclusive markets and guide future policy, best practices and market development for a diverse range of stakeholders.
