Fun

Does wine age better on the blockchain?

News Feed - 2024-04-10 11:04:21

Savannah Fortis9 hours agoDoes wine age better on the blockchain?GrtWines is taking the $441 billion fine wine market and putting it on-chain through Web3 tokenization, with the aim of opening new doors for investors of all generations.1426 Total views10 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksIn an effort to redefine the world of fine wine investment a new Web3 marketplace aims to uncork the next era of market accessibility. 


GrtWines, co-founded by former CLSA Chairman Jonathan Slone and acclaimed wine critic James Suckling, is a digital platform that allows collectors and investors of vintage and fine wines access to the market via digital asset tokenization.


Each digital certificate issued is tied to a real, investment-grade bottle of wine sourced directly from prestigious wineries. They are sourced directly from renowned wineries and stored in optimal condition until ready to be redeemed and delivered.


According to data from Statista, the wine industry is a multi-billion dollar market with a combined revenue from supermarkets, convenience stores, bars and restaurants to amount to $60 billion in 2024, in the United States alone.


Victor Yin, the CTO and co-founder at GrtWines called the creation of the platform a “significant milestone” in the maturation of the digital asset industry and blockchain technology and a new way to “democratize” the wine industry. He said:“With the use of smart contracts, we double down on proof of ownership and provenance, effectively enhancing the overall transparency and security in the persistent counterfeit market.”


Related:Data NFT platform enhances security and user participation with XP system


The platform is launching alongside its first collection, “The Jefferson Collection,” which serves as a tribute to one of history’s most famous wine enthusiasts, Thomas Jefferson.


Jonathan Slone, the CEO and co-founder at GrtWines, said as a wine connoisseur, he feels passionate about the platform for preserving the rich heritage of wines while building a “transparent and connected community” driven by the consumers. He said:“Traditional alternative assets such as well-aged wines, fine art and luxury watches have gained significant traction among younger buyers, serving as both portfolio diversification and elevated lifestyle.”


Luxury items as a whole have gained significant traction as tokenized assets on the blockchain over the last few years.


Examples can be seen with luxury brand blockchain platform Arianee, which recently launched a Polygon CDK-powered layer-2 to issue and manage digital product passports for various luxury brands and companies.


Additionally, in the fashion industry, fine artists, luxury brands and watchmakers have been utilizing on-chain assets like nonfungible tokens (NFTs) to verify ownership, track history of products and foster community.


Magazine:1 in 6 new Base meme coins are scams, 91% have vulnerabilities# Blockchain# Adoption# Food# Digital Asset# Web3Add reaction

News Feed

MetaWars Launchpad Revolutionizing the GameFi Industry as the ‘First’ Cross-Game Metaverse Launchpad
MetaWars Launchpad Revolutionizing the GameFi Industry as the "First" Cross-Game Metaverse Launchpad press release PRESS RELEASE.MetaWars is the first project to unite the world of
BlackRock aware that RWAs are ‘multitrillion-dollar opportunity’ — Kinto co-founder
Nancy Lubale2 hours agoBlackRock aware that RWAs are ‘multitrillion-dollar opportunity’ — Kinto co-founderKinto co-founder Victor Sanchez says real-world asset tokenization could be the future of finance and explai
Solana ‘God Candle Is Close’ As It Breaks From Crucial Resistance – Top Analyst
Este artículo también está disponible en español. Solana recently broke its yearly high at $210, sparking a surge in trading activity as the altcoin now attempts to conso
XRP Nears Oversold Territory: Will $1.9 Support Trigger A Rebound?
Este artículo también está disponible en español. XRPhas reached a critical $1.9 support level, a price point that could define its short-term trajectory. At the same tim
Bitcoin Hits $50K, Crypto Asset Jumps 200% in 3 Months, USD Shorts Touch a Decade High
Bitcoin Hits $50K, Crypto Asset Jumps 200% in 3 Months, USD Shorts Touch a Decade High The price of bitcoin touched an all-time high surpassing the $50k handle o
Bitcoin Price Outlook for November — FTX Crisis Fuels Bearish Momentum
Bitcoin Price Outlook for November — FTX Crisis Fuels Bearish Momentum It’s fair to say that the first ten days of November have been nothing short of historic in cryptocu
Bitfinex Doesn’t Have to Compile Documents During Appeal, Judge Says
A New York judge has rejected a New York Attorney General’s office request to have Bitfinex and Tether collect all documents pertaining to an alleged $850 million cover-up and $900 million line of credit.
Ethereum Consolidates But Open Interest Points to Potential Breakout
Este artículo también está disponible en español. Ethereum is now demonstrating steady price growth, posting a 6% rise in the past day as the broader cryptocurrency marke
Ciaran Lyons2 hours agoBitcoin bought by corporate giants should not be feared — Michael SaylorDuring a recent podcast interview, Michael Saylor explained that Bitcoin being bought and custodied by corporations should
Bitcoin Hashrate Briefly Slips Below 200 EH/S During Market Rout, Less Than 100K Blocks Left Until the Halving
Bitcoin Hashrate Briefly Slips Below 200 EH/S During Market Rout, Less Than 100K Blocks Left Until the Halving After reaching an all-time high on June 8, Bitcoin’s hashrate
ETH valuation metric is ‘heating up,’ but analyst says it’s not overvalued
Ciaran Lyons5 hours agoETH valuation metric is ‘heating up,’ but analyst says it’s not overvaluedCryptoQuant CEO Ki Young Ju noted that while Ethereum’s MVRV is rising quickly, onchain activity levels suggest it
Bitcoin traders ignore Silk Road sale as BTC price bounces to $66.5K
William Suberg1 hour agoBitcoin traders ignore Silk Road sale as BTC price bounces to $66.5KBitcoin “bearish narratives” should not get in the way of the broader picture, analysis says.866 Total views26 Total sharesL