Trend of owning the intangible: the mediating role of psychological ownership in cultural consumption within blockchain ecosystems

In the digital age, driven by technological advancements, blockchain technology has transformed arts and culture, particularly in heritage preservation, collections, and copyright management. While existing research extensively examines blockchain’s technical aspects and its impact on industries and society, there remains a significant gap in understanding its influence on consumer behavior, especially from a psychological perspective. This study investigates how blockchain influences psychological ownership and cultural identity in cultural consumption, using the cognition–affect–conation (CAC) model and structural equation modeling with a sample of 1153 blockchain platform users. The study explores how blockchain affects purchase intentions for cultural collectibles through factors such as cultural knowledge, authenticity, innovation, traceability, and scarcity, emphasizing the crucial roles of traceability and cultural authenticity in shaping consumer behavior. Notably, both psychological ownership and cultural identity mediate purchase intentions, but they play distinct roles in the blockchain-driven pathways leading to digital collectible purchases. This finding contributes to existing research by revealing a novel aspect of how technologically innovative products mediate purchase intentions. It reflects the emerging role of blockchain technology in cultural and artistic consumption, as well as its transformative impact on consumer psychology and behavior.