Implications of NFT as a sustainable fintech innovation for sustainable development and entrepreneurship
This study explores the global patterns of non-fungible token (NFT) equity funding, focusing on NFTs’ role as a sustainable financial technology (fintech) in promoting the United Nations’ sustainable development goals (SDGs) as well as entrepreneurship and in balancing business growth with social im...
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| Format: | Article |
| Language: | English |
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Elsevier
2025-05-01
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| Series: | Sustainable Technology and Entrepreneurship |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S2773032825000045 |
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| author | Suborna Barua Uttam Golder Rubaiyat Shaimom Chowdhury Kashfia Sharmeen |
| author_facet | Suborna Barua Uttam Golder Rubaiyat Shaimom Chowdhury Kashfia Sharmeen |
| author_sort | Suborna Barua |
| collection | DOAJ |
| description | This study explores the global patterns of non-fungible token (NFT) equity funding, focusing on NFTs’ role as a sustainable financial technology (fintech) in promoting the United Nations’ sustainable development goals (SDGs) as well as entrepreneurship and in balancing business growth with social impact. Utilizing descriptive tools and the Wilcoxon rank-sum (Mann–Whitney) test, we analyze global and regional data from 2015 to 2021 to examine NFT funding flows. The results show that funding flows from 2015 to 2021 exhibit notable differences and that funding flows in the United States (US) and Europe differ significantly from those in Latin America and the rest of the world (regions other than the US, Asia, Europe, Latin America, and Canada). Furthermore, using a narrative literature review, we determine that NFT-funded projects support achieving the SDGs (including decent work and economic growth; climate action; peace, justice, and strong institutions; quality education; partnerships for the goals; and industry, innovation, and infrastructure), fighting against hunger and poverty, promoting human well-being, facilitating financial inclusion, and reducing gender gaps, thereby ensuring business growth aligning with social benefits. However, technological barriers, negative environmental impacts, insufficient regulations, unequal benefit distribution, and social distrust may obstruct NFT innovation. |
| format | Article |
| id | doaj-art-e1b7a136c19e495896b2b212f02d0444 |
| institution | Kabale University |
| issn | 2773-0328 |
| language | English |
| publishDate | 2025-05-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Sustainable Technology and Entrepreneurship |
| spelling | doaj-art-e1b7a136c19e495896b2b212f02d04442025-02-06T05:13:07ZengElsevierSustainable Technology and Entrepreneurship2773-03282025-05-0142100099Implications of NFT as a sustainable fintech innovation for sustainable development and entrepreneurshipSuborna Barua0Uttam Golder1Rubaiyat Shaimom Chowdhury2Kashfia Sharmeen3Department of International Business, Faculty of Business Studies, University of Dhaka, Dhaka 1000, BangladeshDepartment of International Business, Faculty of Business Studies, University of Dhaka, Dhaka 1000, Bangladesh; Department of Finance and Banking, Faculty of Business Studies, Jashore University of Science and Technology, Jashore 7408, Bangladesh; Corresponding author.Department of Finance, Bangladesh University, Dhaka 1207, BangladeshBangladesh Institute of Capital Market (BICM), Dhaka 1000, BangladeshThis study explores the global patterns of non-fungible token (NFT) equity funding, focusing on NFTs’ role as a sustainable financial technology (fintech) in promoting the United Nations’ sustainable development goals (SDGs) as well as entrepreneurship and in balancing business growth with social impact. Utilizing descriptive tools and the Wilcoxon rank-sum (Mann–Whitney) test, we analyze global and regional data from 2015 to 2021 to examine NFT funding flows. The results show that funding flows from 2015 to 2021 exhibit notable differences and that funding flows in the United States (US) and Europe differ significantly from those in Latin America and the rest of the world (regions other than the US, Asia, Europe, Latin America, and Canada). Furthermore, using a narrative literature review, we determine that NFT-funded projects support achieving the SDGs (including decent work and economic growth; climate action; peace, justice, and strong institutions; quality education; partnerships for the goals; and industry, innovation, and infrastructure), fighting against hunger and poverty, promoting human well-being, facilitating financial inclusion, and reducing gender gaps, thereby ensuring business growth aligning with social benefits. However, technological barriers, negative environmental impacts, insufficient regulations, unequal benefit distribution, and social distrust may obstruct NFT innovation.http://www.sciencedirect.com/science/article/pii/S2773032825000045Non-fungible tokenEquity financingSDGsSustainable fintechSustainable technologyEntrepreneurship |
| spellingShingle | Suborna Barua Uttam Golder Rubaiyat Shaimom Chowdhury Kashfia Sharmeen Implications of NFT as a sustainable fintech innovation for sustainable development and entrepreneurship Sustainable Technology and Entrepreneurship Non-fungible token Equity financing SDGs Sustainable fintech Sustainable technology Entrepreneurship |
| title | Implications of NFT as a sustainable fintech innovation for sustainable development and entrepreneurship |
| title_full | Implications of NFT as a sustainable fintech innovation for sustainable development and entrepreneurship |
| title_fullStr | Implications of NFT as a sustainable fintech innovation for sustainable development and entrepreneurship |
| title_full_unstemmed | Implications of NFT as a sustainable fintech innovation for sustainable development and entrepreneurship |
| title_short | Implications of NFT as a sustainable fintech innovation for sustainable development and entrepreneurship |
| title_sort | implications of nft as a sustainable fintech innovation for sustainable development and entrepreneurship |
| topic | Non-fungible token Equity financing SDGs Sustainable fintech Sustainable technology Entrepreneurship |
| url | http://www.sciencedirect.com/science/article/pii/S2773032825000045 |
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