What Motivate Indonesian Millennials to Invest in NFT?

This research investigates the factors influencing Indonesian millennials' interest in NFTs, guided by the Theory of Planned Behavior. Through qualitative interviews with active NFT users, the study explores motivations and barriers to NFT investment. Informants perceived NFTs as an attractive investment alternative and a potential path to lucrative careers. However, the research also identified a herd mentality, where social influence sometimes trumped thorough analysis. The perceived high cost of entry and inherent risk associated with NFTs deterred some millennials from investing. This research fills a critical gap in our understanding of Indonesian millennials' NFT investment behavior. It offers practical recommendations for future research and informs relevant stakeholders. Policymakers can leverage these insights to develop informed regulations for this emerging market. Business practitioners, particularly in the NFT industry, can gain valuable customer insights to tailor their offerings and marketing strategies to resonate with this target audience.