Gamified cryptocurrency and rewards: Consumer behaviour during uncertain earnings.
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| Title: | Gamified cryptocurrency and rewards: Consumer behaviour during uncertain earnings. |
|---|---|
| Authors: | Ahsan, Zaid Bin (AUTHOR), Gupta, Agam (AUTHOR) |
| Source: | Journal of Consumer Behaviour. May2024, Vol. 23 Issue 3, p1540-1555. 16p. |
| Subjects: | Consumer behavior, Cryptocurrencies, Social media, Non-fungible tokens, Investment risk, Phenomenology, Thematic analysis |
| Abstract: | The accentuation of cryptocurrency, non‐fungible tokens and gamification of platforms has led to rewards being awarded, in the form of cryptocurrencies, that are formed by the platforms themselves and traded over the marketplace. These play‐to‐earn gamified platforms have witnessed a rise in participation, leading to increased investments by consumers, engagement, threats, and subsequent volatility. This paper tries to decipher consumer behaviour over the nascent gamified platform of a play‐to‐earn game, Axie Infinity, due to its fluctuating and subsequent depreciation of cryptocurrency, that act as rewards. This volatility from the resultant rewards over the platform brings about an uncertainty in the users' engagement, which has been part of our investigation in this study. The data was gathered through semi‐structured interviews of 20 participants picked from the official server of Axie Infinity on the social media platform of Discord. A thematic analysis based on a descriptive phenomenological approach was conducted on this data which generated findings that were centred around the continued use of action and rewards, resolution of participation through accumulation of rewards and optimism. The study contributes by highlighting and substantiating the component of optimism in the theory of reinforcement‐uncertainty, that characterises repetitive uncertain events, specifying it for uncertain rewards over investment risks that have been undertaken by consumers. Based on these findings, this study discusses how optimism is crucial in the continuation of engagement and outlines how it can be used in the facilitation of positive consumer behaviour over a gamified platform. [ABSTRACT FROM AUTHOR] |
| Copyright of Journal of Consumer Behaviour is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) | |
| Database: | Psychology and Behavioral Sciences Collection |
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| Header | DbId: pbh DbLabel: Psychology and Behavioral Sciences Collection An: 177114530 AccessLevel: 6 PubType: Academic Journal PubTypeId: academicJournal PreciseRelevancyScore: 0 |
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| Items | – Name: Title Label: Title Group: Ti Data: Gamified cryptocurrency and rewards: Consumer behaviour during uncertain earnings. – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Ahsan%2C+Zaid+Bin%22">Ahsan, Zaid Bin</searchLink> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Gupta%2C+Agam%22">Gupta, Agam</searchLink> (AUTHOR) – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="JN" term="%22Journal+of+Consumer+Behaviour%22">Journal of Consumer Behaviour</searchLink>. May2024, Vol. 23 Issue 3, p1540-1555. 16p. – Name: Subject Label: Subjects Group: Su Data: <searchLink fieldCode="DE" term="%22Consumer+behavior%22">Consumer behavior</searchLink><br /><searchLink fieldCode="DE" term="%22Cryptocurrencies%22">Cryptocurrencies</searchLink><br /><searchLink fieldCode="DE" term="%22Social+media%22">Social media</searchLink><br /><searchLink fieldCode="DE" term="%22Non-fungible+tokens%22">Non-fungible tokens</searchLink><br /><searchLink fieldCode="DE" term="%22Investment+risk%22">Investment risk</searchLink><br /><searchLink fieldCode="DE" term="%22Phenomenology%22">Phenomenology</searchLink><br /><searchLink fieldCode="DE" term="%22Thematic+analysis%22">Thematic analysis</searchLink> – Name: Abstract Label: Abstract Group: Ab Data: The accentuation of cryptocurrency, non‐fungible tokens and gamification of platforms has led to rewards being awarded, in the form of cryptocurrencies, that are formed by the platforms themselves and traded over the marketplace. These play‐to‐earn gamified platforms have witnessed a rise in participation, leading to increased investments by consumers, engagement, threats, and subsequent volatility. This paper tries to decipher consumer behaviour over the nascent gamified platform of a play‐to‐earn game, Axie Infinity, due to its fluctuating and subsequent depreciation of cryptocurrency, that act as rewards. This volatility from the resultant rewards over the platform brings about an uncertainty in the users' engagement, which has been part of our investigation in this study. The data was gathered through semi‐structured interviews of 20 participants picked from the official server of Axie Infinity on the social media platform of Discord. A thematic analysis based on a descriptive phenomenological approach was conducted on this data which generated findings that were centred around the continued use of action and rewards, resolution of participation through accumulation of rewards and optimism. The study contributes by highlighting and substantiating the component of optimism in the theory of reinforcement‐uncertainty, that characterises repetitive uncertain events, specifying it for uncertain rewards over investment risks that have been undertaken by consumers. Based on these findings, this study discusses how optimism is crucial in the continuation of engagement and outlines how it can be used in the facilitation of positive consumer behaviour over a gamified platform. [ABSTRACT FROM AUTHOR] – Name: AbstractSuppliedCopyright Label: Group: Ab Data: <i>Copyright of Journal of Consumer Behaviour is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.) |
| PLink | https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=pbh&AN=177114530 |
| RecordInfo | BibRecord: BibEntity: Identifiers: – Type: doi Value: 10.1002/cb.2291 Languages: – Code: eng Text: English PhysicalDescription: Pagination: PageCount: 16 StartPage: 1540 Subjects: – SubjectFull: Consumer behavior Type: general – SubjectFull: Cryptocurrencies Type: general – SubjectFull: Social media Type: general – SubjectFull: Non-fungible tokens Type: general – SubjectFull: Investment risk Type: general – SubjectFull: Phenomenology Type: general – SubjectFull: Thematic analysis Type: general Titles: – TitleFull: Gamified cryptocurrency and rewards: Consumer behaviour during uncertain earnings. Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Ahsan, Zaid Bin – PersonEntity: Name: NameFull: Gupta, Agam IsPartOfRelationships: – BibEntity: Dates: – D: 01 M: 05 Text: May2024 Type: published Y: 2024 Identifiers: – Type: issn-print Value: 14720817 Numbering: – Type: volume Value: 23 – Type: issue Value: 3 Titles: – TitleFull: Journal of Consumer Behaviour Type: main |
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