Tokenizing the Online Profile: How Digital Asset Disclosure Sparks Social Connectivity in Online Social Networks

Digital assets have grown in popularity since the emergence of blockchain technology due to their increasing adoption and diverse applications. As digital assets gain momentum, social media platforms are incorporating them into their platforms, allowing users to disclose and showcase their digital asset portfolio. This practice enables individuals to build connections within the community by sharing information about their digital assets, including their creators and values. Therefore, in this study, we examine the impact of disclosing digital assets on social connectivity on social media platforms. By tracking more than 94,000 NFT users on Twitter over 24 weeks, we find a significant positive effect of disclosing digital assets on social connectivity. In addition, we investigate how the magnitude of the impact depends on different factors, such as the wealth and creator status of users. We discuss managerial implications for social media users, digital asset owners, and platform operators.