Using Web3 technologies to represent personalized consumer taste preferences in whiskies

Abstract

The emergence of Web3 technologies in the recent decade offers innovative tools and protocols that can revolutionize market research, which faces the ongoing challenges of comprehending consumer needs. One possibility is to securely store and represent personalized consumer preferences. This manuscript illustrates the application of Non-Fungible Tokens (NFTs) as a means to present consumer preference data and deliver personalized product recommendations directly to consumers. To do this, we initiated a study involving a small group of 31 respondents who participated in the “What’s Your Whisky” survey. Their responses were transformed into unique pieces of artwork generated by an algorithm. Furthermore, whisky recommendations were derived from these survey responses and integrated into the corresponding artwork. These personalized artworks, which represent each respondent’s whisky taste preference and top whisky selection, can be minted onto a blockchain as NFTs. This process enables respondents to securely own and retain them in their digital wallets, thus creating an immutable record of their whisky taste preferences and personalized recommendations. Finally, a follow-up survey was conducted to assess the value of personalized artwork NFTs. Respondents were asked for preferences between artwork derived from their taste preferences to those with the same whisky recommendations but with randomly sourced background art. Binomial test results revealed a clear preference for artwork based on their personal affirmed that respondents favored artwork based on their personal survey responses.