Background and purpose: With the introduction of NFTs, the conventional art world has been disrupted. A lot of digital artists have gravitated towards NFT enabled entrepreneurship. Creators and customers are brought together by NFT marketplaces, platforms that serve to lower transaction costs. Literature confirms challenges and tensions associated with using blockchain and NFT platforms. The study aims to investigate the subtleties of the relationships between artists and various NFT marketplaces, taking into account transaction costs throughout the entrepreneurial process. Understanding how transaction costs affect NFT artists' experiences with NFT platforms is the main goal of the research topics. 

Research Question: How do transaction costs influence the entrepreneurial experiences of NFT artists with NFT marketplaces? 

Method: The study adopts a relativist ontology and a constructionist epistemology, recognizing the subjective and diverse nature of reality in relation to NFT artists' experiences and transaction costs, being shaped also by social interactions. The research approach combines qualitative and quantitative methods, with a focus on semi-structured interviews with NFT artists (primary) and gathering transaction cost data from NFT marketplaces (secondary). The sampling strategy involves purposive sampling, and 11 interviews were conducted. Grounded Theory was applied for data analysis and revealed artists’ NFT journey, transaction points, related costs, and their influence on their decision-making.

Conclusion: The study finds that while various costs exist, transaction costs associated with NFT marketplaces do not significantly influence decision-making throughout the entrepreneurial journey. A framework is proposed that acknowledges the importance of bounded rationality and highlights that NFT artists perceive non-marketplace-related costs, tied to the dynamics of the NFT phenomenon, as more influential on their entrepreneurial experiences and success. The framework emphasizes the NFT artists’ active role in promoting their works, engaging with collectors, continuous learning, and strategizing.