Barriers to the adoption of NFTs

NFTs made a rapid entry into the market by creating a significant impact in commercial transactions involving digital assets. However, despite their potential to shape the economy, they have experienced notable declines in recent years. This situation was deemed worthy of investigation, and the reason for this decline was examined using the active innovation resistance theory. This study aims to uncover the factors that pose barriers to individuals adopting NFTs, focusing on usage, value, risk, norm, and image barriers. The data for the study was collected through an online survey of 254 participants. The data underwent validity and reliability analysis, factor analysis, and regression analysis. The research findings revealed that risk and value barriers were the most significant obstacles to the adoption of NFTs, while image barriers had no impact on either attitude or intention. The findings of the study will contribute academically to understanding the barriers to the adoption of cryptographic-based technologies and the applicability of active innovation resistance theory within these technologies. Additionally, in terms of practical application, the study will aid in developing appropriate strategies, conducting awareness campaigns, and establishing security procedures. Keywords: NFT (non-fungible token), Active Innovation Resistance, Blockchain, Ethereum, Smart Contracts