United

Base

Polygon

James

In an effort to redefine the world of fine wine investment a new Web3 marketplace aims to uncork the next era of market accessibility.&nbsp;
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 <a href="https://www.statista.com/outlook/cmo/alcoholic-drinks/wine/united-states#:~:text=In%20the%20Wine%20market%2C%20volume,home%20of%201.6%25%20in%202025." target="_blank" rel="noopener nofollow">data</a> 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:
<blockquote data-ct-non-breakable="true">
 “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.”
</blockquote>
Related: <a href="https://cointelegraph.com/news/data-nft-platform-enhances-security-and-user-participation-with-xp-system">Data NFT platform enhances security and user participation with XP system</a>
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:
<blockquote data-ct-non-breakable="true">
 “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.”
</blockquote>
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 <a href="https://cointelegraph.com/news/luxury-brand-arianee-l2-polygon">Polygon CDK-powered layer-2</a> to issue and manage digital product passports for various luxury brands and companies.
Additionally, in the <a href="https://cointelegraph.com/news/nft-captivate-fashion-luxury-nft-paris">fashion industry, fine artists, luxury brands</a> and watchmakers have been utilizing on-chain assets like <a href="https://cointelegraph.com/learn/what-are-nfts-and-why-are-they-revolutionizing-the-art-world">nonfungible tokens (NFTs)</a> to verify ownership, track history of products and foster community. 
Magazine: <a href="https://cointelegraph.com/magazine/base-meme-coins-scams-vulnerabilities-honeypot/">1 in 6 new Base meme coins are scams, 91% have vulnerabilities</a>

Does wine age better on the blockchain?

Cointelegraph

Các bài viết khác được xuất bản trên 10 thg 4, 2024

Bitcoin Outflows Slow in Grayscale’s GBTC, Ethereum Gains Market Share: CEO Comments Spark Analysis

Y Combinator’s Paul Graham Slammed for Claiming Texts With “Delve” Are Written by AI

Bitcoin (BTC) Bulls Bank on $200K Target as Price Breaks This Key Resistance

Solana Exec Reveals Actual Reason Behind Recent Congestion

Cardano (ADA) Price Slumps: On-Chain Weakness, Technicals Signal Further Downside Risk

Bitcoin sinks below $68k following US inflation data release

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!