Textual Analysis and Decoding of Cryptocurrency Ads in Thai Society: Unveiling the Meanings and Audience Interpretations
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Abstract
This qualitative study explores the construction of the meaning of cryptocurrency advertising in Thai society. It employs textual analysis and in-depth interviews, examining cryptocurrency ads (crypto ads) and how the audiences decode the crypto ads. The following seven distinct themes of meaning were identified: 1) fast and easy trading with high-profit potential everywhere, anytime, 2) cryptocurrency literacy, 3) Cryptocurrency–Bitcoin, the decentralized digital money, 4) working hard on learning crypto and being patient for profit potential, 5) the cryptocurrency-money revolution for the diversity of people in society, 6) making money with non-fungible tokens (NFTs), and 7) developing cryptocurrency for the future structure of the monetary system for Thailand. Additionally, in-depth interviews with 21 participants were conducted to decode the understanding of polysemic ad messages, featuring preferred, negotiated, and opposed readings. This study emphasizes the significance of responsible advertising practices, transparent communication of risks, and comprehensive cryptocurrency literacy. It highlights the role of advertising in articulating audience perceptions towards cryptocurrencies and offers practical understandings for advertisers, policy decision-makers, and researchers in navigating the cryptocurrency landscape in Thai society.
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