Title: 'Augmenting' tradition through innovation - the implementation of NFTs in the high-end fashion industry

Authors: Mariachiara Colucci; Alessandra Vecchi

Addresses: Department of Management, University of Bologna, Via Capo di Lucca 34, 40126 Bologna, Italy ' Department of Environment and Prevention Sciences (DEPS), University of Ferrara, Palazzo Turchi di Bagno, C.so Ercole I D'Este, 32, 44121 Ferrara, Italy

Abstract: This study investigates how high-end fashion companies use non-fungible tokens (NFTs) to balance tradition and innovation, enhancing competitiveness. Drawing on secondary data and a survey of 178 respondents, a mixed-method approach evaluates 12 companies' 'phygital' strategies - mapped against brand awareness and NFT readiness. Two main goals emerge: 'entertainment', aimed at expanding consumer bases, and 'brand exposure', which deepens brand engagement through exclusive or virtual products. Consumer perceptions are analysed, particularly regarding NFT video games, clothing, and art. The study identifies three NFT-related consumer needs - 'elitism', 'playfulness', and 'brand signalling' - and segments two consumer clusters: 'status seekers' and 'utility explorers'. The research contributes to the innovation and change literature by applying paradox theory to explain how phygital strategies support competitiveness in luxury fashion.

Keywords: innovation; tradition; paradox theory; non-fungible tokens; NFTs; luxury; fashion; consumers; phygital; digital.

DOI: 10.1504/IJTMKT.2026.150499

International Journal of Technology Marketing, 2026 Vol.20 No.1, pp.1 - 30

Received: 08 Feb 2025
Accepted: 30 Apr 2025
Published online: 15 Dec 2025 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article