WINE NFT TRADING APP FOR WINE LOVER

UX Research | UI/UX Design | Design System | Prototype

Project Overview

This is one of the client projects from my full-stack UX/UI design immersive course at Xcelerate. To design the Wine NFT trading App for MetaMaster, we collaborated with a group of ten people within a month.

This project aims to:

To build a platform that promotes digital transformation for users.
To encourage users to collect wine and invest in the new era of 3.0

Project Type:

A group project involving 10 people

Duration:

4 weeks

Software:

Figma & Figjam

Work As:

UX/UI Designer

Deliverables:

Primary Research (Survey and Interviews)
Secondary Research (Competitor Analysis)
Persona, User Journey Map, Affinity Map
User Flow, Site Map, Usability Test
Low-fidelity wireframes
High-fidelity mockup
Interactive Prototype
Design system

My Role:

Primary and Secondary Research including Survey, Interview, Competitor analysis
UX/UI design for the Marketplace(Homepage), Wine NFT buying process and Login sections
Look and feel of the screen, also handle and set the guideline in the design system
Wireframes, high-fidelity mockups, prototypes and usability tests
Organizing meetings among students and updating the clients
Final presentation to the client

About MetaMaster by V System

MetaMaster is one of the projects being developing under V System - a blockchain infrastructure provider with a focus on database and cloud services. MetaMaster is a product of Custodial NFTs and Physically Backed.

The Luxury Wine Trading Market

Luxury spirits investors make their purchases through auction houses, in travel retail shops, or at select high-end retailers. While those avenues remain highly relevant, new platforms are seeking a slice of the luxury spirits pie. MetaMaster is one such company, offering a non-fungible token (NFT) marketplace for luxury wine and spirits producers that has upended traditional models.

Concept

+

Wine

=

NFT

MetaMaster is asset-backed NFTs from wine collectors and brands. Each NFT corresponds to a physical bottle, and customers have the ability to exchange the digital version for the physical version. In simple terms, the buyer owns the physical bottle, MetaMaster stores it for them, and the digital version serves as proof of authenticity, verification of ownership, and the right to have the physical bottle delivered.

The Challenges

Metamaster needs to build a mobile app for users to invest in wine via NFT

Build trust and engage more users to the platform

Stand out from the competitiors

The challenge for Metamater is to build trust and engage more users on the platform so that the product can be market-fit for different personas. Additionally, they need to stand out from other competitors such as the up-and-coming online wine trading company.

The Goal

A trusted, ease of use platform for wine trading

A high-end luxury digital interface

A seamless logistics of physical wine bottle collection

The ultimate goal is to build a trust-worthy, easy-to-use platform for high-end wine trading since it is difficult to find such a platform. One of the major concerns for investors is the storage problem, so the seamless logistics of physical wine bottle collection may be the most effective option for them. Luxury digital interfaces increase the likelihood that users will use the platform and trade confidently.

Target Audience

This project has three main target audiences:

Wine Investors/Lovers

People who is adapting to new technology

Alcohol Companies

Users Research

Our goal in the research is to find out what users are concerned about when they invest in a wine NFT, what is the purpose of users buying wine NFTs? What will investors consider when buying a wine NFT?

What information is important to users as a wine buyer?

Methodology

Primary Research

Survey - 23 responses collected in total
Interview - 10 interviewees in total
Usability test - 5 users in total

Secondary Research

Competitors analysis

Competitors Analysis

We found 3 main competitors in the online wine trading market. We will compare their main features, try to determine each company's pros and cons, and what we can learn from them.

A primary competitor of MetaMaster is Blockbar, which sells wine NFTs in the marketplace and redeems physical products. The key difference is that Blockbar mainly sells wine NFTs from the wine brand, whereas MetaMaster has various wine investors putting their collections into the app and trading between users.

Vinovest is an online wine selling platform that allows customers to buy directly from the company. Users can build their own trading portfolio with the help of investing advisors and manage their account themselves.

Cult Wine Investment is a traditional online wine trading platform. Their target audience is wealthy investors who need a minimum of $100k to launch their portfolio. Furthermore, the platform provides sales and investor support to assist you with your purchase.

What we learn from the Competitors Analysis:

Advantages of buying NFT wines over buying physical wines

Easy to sell and transfer high-end wine, less admin fees and paperwork
NFT can prove ownership, verify authenticity and protect customers' rights to redeem goods anywhere in the world
Less storage fees and no need to worry about insurance and storage
You don't have to worry about shipping wine when relocating
Publicly display your rare and exclusive wine collection

Survey and Interview Finding:

The objective is to investigate the trading behavior and investment patterns of wine and cryptocurrency investors, but it's quite difficult to search both audiences simultaneously. Therefore, we divided into two groups, one that studied wine investors, another that studied crypto/NFT investors, and we conducted surveys and interviews with each group.

For NFT traders

Findings

Half of the Crypto traders also trade NFTs
75% of the NFT traders purchasing the Artwork the most
Potential returning profit is the top priority for NFT traders
Over 60% of the NFT traders mainly use the NFT app to mint or buy NFT
Unknown prospect is the main reason that stops people from trading NFT
If the NFT product is attractive, 43% of non-NFT traders will consider trading it

Insights

Users prioritise the appreciation value the most when trading NFTs
Users based on the transaction activities and News Feed to decide what to trade
Features that users hope to see including: Mint/Sell/Receive/Wallet extension
Users do not prefer any advising function

Findings For Wine Investors

Findings

All the wine investors want to know the potential profit first, and 33% also want to know more about the exclusivity and brand of the wine as well.
50 per cent of wine enthusiasts and wine investors in our survey have not heard of Blockbar, Cult Wine Investment or VinoVest. 30% have heard of traditional wine investment platforms through social media or other e-commerce  platforms.
Most wine investors and enthusiasts see themselves as mostly fairly knowledgeable about wine
Out of 100%, 25% said they would be willing to consider investing in an NFT wine platform with average  to little interest as of the time the survey was taken. Out of those willing to invest, almost 40% said they are willing to invest $5000 to start.
However, 90% are interested in learning about the investment returns of having an NFT wine portfolio. Second highest motivation to be interested is having exclusive wine offerings as well
More than 60% are concerned about learning how NFTs work or how wine can be a physically-backed NFT.  Less than 40% are concerned about authenticity

Insights

Users prefer advising function, friend referrals when making decision
They likely invest in wine that are exclusive from popular wineyard
Wine investor perceive wine is an investment product with steady growth return
Users are motivated and interested when they learn about potential investment returns of having a wine NFT portfolio

Affinity Maps

Based on the interview feedback on Wine investors and the NFT traders, we created an 2 affinity maps on both side, the below images is the major findings of our maps.

For Wine investors

Research findings based on the above affinity map:

Wine traders have a difficult time finding buyers
There is a high starting cost because the agent needs a minimum amount to get started
The source of the bottle is the main concern for wine traders. There are many fake alcohols on the market, and it is very expensive to check them
The purpose of buying wine is to diversify their investment portfolio. Investments in wine seem to be stable
Factors to consider when investing in digital wine: Rather trust word of mouth when selecting a wine company to invest in

For NFT traders

Research findings based on the above affinity map:

Interviewvee thinks the wine NFT will work, but the company needs to earn the trust of its users
The process will depend on whether the website is complete and functional
The interviewee thinks the wine NFT platform makes trading convenient for users
It might not be lucrative for investors to invest in a company if its liquidity is low or insufficient

Persona

Based on the Affinity maps, we created the Personas above:

A wine trader wants to trade and socialize with other wine enthusiasts
He needs an easy-to-use platform where he can sell and transfer high-end wine, without having to pay a lot of admin fees and paperwork
There will be less storage fees and you won't have to worry about insrucance and storage
The platform must also prove ownership, verify authenticity, and protect the rights of the customers
A simple and easy redemption process in a physical bottle

User Journey Map

The above user journey map shows Jeff as a wine trader who wants to trade his own wine collection through an online platform. As a result of the journey maps, we are able to identify the pain points throughout the trading process. We can also demonstrate some opportunities that can be integrated into our main functionality.

Pain Points

Authenticity of the trade

Storage Problem

Scarce Market / Platform

Longing to build a community of wine lover

We generate 4 paint points from personas and user journey maps

Scarce platform for wine trading
Authenticity of trade
Eagerness for wine community and
Storage problem

Site Map

To outline all the necessary functionality, we created a site map of the 3 main sections:

Explore - Marketplace for users to browse all kinds of Wine NFTs
Wallet - Check credit balance and send/buy/receive NFT/tokens
Portfoilo - My NFT collections and transaction History, redeem/send NFT

Recommandation

Problems

Scarce market / platform

Longing to build a community of wine lover

Authenticity of the trade

Storage Problem

Proposed Solutions

Show Master’s Collections in “Explore”

Able to follow other‘s portofolio

Setting up system that proves realiabilty of users

Choose self pick-up

Expected Outcomes

High exposure of Wine and encourage trades

More connections accessible and digital

Get users to trust the plaform

Minimises user’ concerns

Base on our findings and insights from the research, we suggested with these 4 solutions, hoping that the outcomes are beneficial to the users:

Scarce market/platform

It is difficult to find a platform for people to trade
We included trending products and suggested collections for users to explore high-end wine, expecting them to trade more

Longing to build a community of wine lover

Users show their eagerness to build a network
The allowance for them to follow each other in the community is preferable
Those who share a passion for wine can connect digitally. They will be able to see one another’s portfolio

Authenticity of the trade

The difficulty to verify the authenticity when trading wine
We would like to minimise any possibilities of false users and fake wine
so we set up some symbols/ reviews function to build trust towards to the platform

Storage Problem