Journal article

Publication year: 2024

Pages: 271-290

Journal: International Food and Agribusiness Management Review

Volume number: 27

Issue number: 2

ISSN: 1559-2448

Open access status: Gold

DOI Link: https://doi.org/10.22434/IFAMR2023.0080

Publisher: Brill Academic Publishers

Abstract: 
A recent publication reports that the number of active Non-Fungible Tokens (NFTs) in self-custodial wallets has grown exponentially in the past years across several industries. This study analyzed 65 token-based use cases in the wine sector. It was found that most current applications revolve around the downstream part of the supply chain. The research has also demonstrated that the various solutions involving fungible tokens and NFTs can be classified into three categories. Consequently, a taxonomy has been introduced. Furthermore, it was identified that digital tokens can solve current challenges in the wine industry related to provenance, proof of origin, authenticity, and fraud prevention. At the same time, the utilization of tokens enables an extended consumer interaction with the product. Managers potentially considering connecting their physical products and services with digital tokens can obtain insights towards their use in the web3 economy.

Harvard Citation style: Kramer, M., Heussner, J. and Hanf, J. (2024) Exploring the use of blockchain-based tokens in the wine industry, International Food and Agribusiness Management Review, 27(2), pp. 271-290. https://doi.org/10.22434/IFAMR2023.0080

APA Citation style: Kramer, M., Heussner, J., & Hanf, J. (2024). Exploring the use of blockchain-based tokens in the wine industry. International Food and Agribusiness Management Review. 27(2), 271-290. https://doi.org/10.22434/IFAMR2023.0080