Complementary or Replicative NFTs ? The Impact of NFT Types on Chinese Consumer's NFT Participation Intention

ABSTRACT Non‐fungible tokens (NFTs), as blockchain‐based cryptographic assets certifying unique digital ownership, have emerged as a transformative force in brand–consumer interactions. Building on prior work that primarily examined the social value of complementary NFTs, the current research advances the literature by systematically comparing two fundamental NFT typologies: complementary NFTs (interrelated collections with stylistic and attribute variations) and replicative NFTs (characterized by serialized identical or similar units). Through four experiments, this research demonstrates that these NFT types differentially influence core brand relationship constructs—while complementary NFTs prove more effective in cultivating brand intimacy, replicative NFTs significantly enhance perceived brand congruence. Moreover, brand history and brand strength are key boundary conditions moderating these effects. Our findings not only systematically demonstrate the divergent effects of replicative and complementary NFTs on consumer perceptions but also provide actionable guidelines for NFT portfolio strategy based on specific brand relationship objectives.