MACAO, 31 May. Dr. Fernando Lourenço led IFTM students from the Tourism Retail and Marketing Management program to participate in an industrial project supporting the local non-profit association Sustaincia to explore the possibilities of using NFT (non-fungible token) technology. develop various industries in Macau, including the cultural and creative industries.
Students first conducted an industry analysis to examine the business models of NFT platforms (marketplaces) used worldwide and platforms used in China, and then conducted a market analysis to study the nature of the international and Chinese buyer market. In addition, students have prepared case studies of leading, established, well-known and successful NFT creators. In the end, the students came up with a wide range of ideas, as well as a marketing mix and business model for using NFT to develop Macau’s cultural, creative, tourism and hospitality industry.
Sustaincia Chairman Terence Lee believes the results of the project will help create jobs and open doors to the international market for local students, musicians and artists, thus supporting the development of the cultural industry and digital culture creators.