Green Banking in the Metaverse: An Economic Analysis of Digital Marketing Opportunities Based on NFTs and Green Assets

Document Type : Original Article

Authors

1 Ph.D. Student, Department of Management, Faculty of Economics, Management, and Administrative Sciences, Semnan University, Semnan, Iran

2 Ph.D. Student, Department of Economics, Faculty of Economics, Management and Administrative Sciences, Semnan University, Iran

3 Professor, Department of Economics, Faculty of Economics, Management and Administrative Sciences, Semnan University, Semnan, Iran

4 Professor, Department of Management, Faculty of Economics, Management, and Administrative Sciences, Semnan University, Semnan, Iran

Abstract

In response to the expansion of green banking and the emergence of the metaverse, this study investigates digital marketing opportunities enabled by non‑fungible tokens (NFTs) and green digital assets. This research addresses a critical gap in the literature concerning the integration of green banking with metaverse environments, blockchain technology, and NFTs. The study aims to develop a conceptual framework for leveraging green NFTs in banking, enhancing customer engagement, fostering trust through blockchain-based transparency, promoting sustainability, and identifying security and regulatory challenges. The central research question is: How can banks utilize green NFTs within the metaverse to design sustainable digital marketing strategies? Adopting an exploratory qualitative approach, the study employs thematic analysis within an interpretive research paradigm. The research population comprises experts in business management, digital marketing, and blockchain— including faculty members from universities such as Mazandaran and Shahid Beheshti—as well as experienced metaverse users active on platforms such as Decentraland. Data were collected through snowball sampling and 23 semi‑structured interviews, conducted until theoretical saturation was achieved. The analysis resulted in 244 initial codes, 30 organizing themes, and six overarching themes: (1) the impact of green NFTs on customer engagement and loyalty, (2) the role of blockchain in trust-building, (3) the influence of NFT design features on environmental perceptions, (4) the promotion of sustainable behaviors through digital campaigns, (5) implementation challenges, and (6) the role of influencers in advancing green initiatives. The findings indicate that green NFTs enhance emotional engagement and customer loyalty, blockchain technology strengthens trust and transparency, and environmentally conscious NFT design positively shapes sustainability perceptions. Practical implications include integrating NFTs into banking loyalty programs, leveraging blockchain for transparent green claims, developing sustainability-oriented interface designs, launching gamified green marketing campaigns, and adopting AI-based security and risk management systems. These insights offer valuable guidance for banking executives and digital marketers, while also highlighting the need for future research to examine the long-term effectiveness and behavioral impacts of green NFT–based marketing strategies.

Keywords

Main Subjects

References

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Green Development Management Studies
Volume 4, Special Issue
November 2025
Pages 263-284

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History

  • Receive Date: 11 October 2025
  • Revise Date: 08 December 2025
  • Accept Date: 23 December 2025

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