Web 3 and NFT create value to the wine industry: The case of Chateau Edmus

Abstract

This case study provides a comprehensive understanding of the value creation web 3 can bring to customers and to the wineries. Learners develop an appreciation of how NFTs’ and DAO’s characteristics can create value in a disruptive way compared to web 2. This is explored through applying the framework of perceived value by customers and online customers brand activities to Chateau Edmus, a Bordeaux winery, led by Laurent David, a former tech manager from Apple. Web 3 brings economic, functional, affective, and social value to customers. It enables Laurent to get a competitive advantage in the marketing funnel, to gain efficiency in his own process, and to obtain knowledge from customers in order to innovate further. In spite of its additional value created for all stakeholders, technical and legal risks may shadow web 3 broader adoption and need to keep the purchase stage on web 2 platform.