웹 3.0의 핵심, NFT에 대한 이용자 선호 실증분석
NFTs as the Cornerstone of Web 3.0: An Empirical Analysis of User Preferences and Individual Characteristics
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본 연구는 블록체인 기술의 발전과 함께 웹 3.0의 핵심 가치로 부상한 NFT에 대한 이용자들의 선호도를 실증적으로 분석하였다. NFT는 예술, 스포츠, 음악, 게임 등 다양한 산업 분야에서 새로운 비즈니스 모델을 창출할 잠재력을 보유하고 있으나, 기존 연구들은 주로 기술적 측면과 법제도적 분석, 수용의도 중심으로 이루어져 왔다. 이에 본 연구는 적응형 선택기반 컨조인트 분석 기법을 이용하여 NFT의 다양한 속성에 대한 이용자들의 선호 체계를 분석하고, 계층적 베이지안 혼합로짓 모형을 활용하여 개인특성이 NFT 선호에 미치는 영향을 실증분석하였다. 분석 결과, 이용자들은 발행자의 신뢰성과 정보제공 수준을 중요하게 고려하는 것으로 나타났으며, 특히 NFT 보유경험이 많은 이용자일수록 정보의 가치를 더 중요하게 평가하였다. NFT 발행개수와 관련해서는 극단적인 희소성보다는 네트워크 효과를 고려한 적정 수준의 희소성을 선호하는 것으로 확인되었다. 개인특성별로는 위험선호성향이 높은 이용자일수록 상업적 활용이 가능한 NFT를 더욱 선호하였으며, 물질주의 성향이 강한 이용자는 커뮤니티 활성화보다는 NFT의 실익에 주목하는 반면, 사회적 지위 소비지향 성향이 강한 이용자는 비영리적 활용에 더 관대한 태도를 보였다. 또한 부가적 혜택 측면에서는 실물 재화 증정이 연계된 경우의 선호도가 높게 나타났다. 이러한 연구결과를 바탕으로 본 연구는 NFT 프로젝트 운영자들에게 타겟 고객층의 개인성향에 맞춤화된 상품 개발, 네트워크 효과와 희소성의 균형을 고려한 발행량 설정, 차별화된 커뮤니티 운영 전략 등을 제안하였다. 정책적으로는 NFT 프로젝트의 투명성 제고와 이용자 보호를 위한 정보 공시제도 마련, 사기 위험 방지를 위한 모니터링 시스템 구축 등이 필요함을 제시하였다. 본 연구는 NFT 시장의 건전한 발전을 위한 기업의 전략적 방향과 정부의 정책적 시사점을 도출했다는 점에서 의의가 있다.
Abstract
This study empirically analyzes user preferences for Non-Fungible Tokens (NFTs), which have emerged as a core value of Web 3.0 with the advancement of blockchain technology. While NFTs possess significant potential to generate novel business models across various sectors including art, sports, music, and gaming, previous research has primarily focused on technological aspects, legal frameworks, and adoption intentions. To address this gap, this study employs an adaptive choice-based conjoint analysis to examine user preference structures for various NFT attributes and utilizes a hierarchical Bayesian mixed logit model to investigate the influence of individual characteristics on these preferences. The findings reveal that users significantly prioritize issuer credibility and information disclosure levels, with experienced NFT holders particularly emphasizing the value of information. Regarding NFT issuance quantity, users prefer moderate scarcity that considers network effects rather than extreme scarcity. Analysis of individual characteristics shows that risk-seeking users demonstrate stronger preferences for NFTs with commercial utilization potential, while materialistic users focus more on practical benefits than community engagement. Conversely, users with strong social status consumption orientation exhibit more favorable attitudes toward non-profit utilization. Additionally, the study finds high preference levels for NFTs coupled with physical merchandise benefits. Based on these findings, this study proposes several recommendations for NFT project operators, including: developing personalized products aligned with target customers' individual characteristics, establishing optimal issuance quantities that balance network effects and scarcity, and implementing differentiated community management strategies. From a policy perspective, the study suggests establishing information disclosure systems to enhance NFT project transparency and user protection, along with implementing monitoring systems to prevent fraudulent activities. This research contributes to the literature by providing strategic directions for businesses and policy implications for government stakeholders, promoting the sustainable development of the NFT market.
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