WineChain: A New Era for the Wine Business
Exclusive wine from esteemed wineries can now be purchased with delivery on the Web3 platform. The WineChain project, spearheaded by celebrated winemakers and retailers, has curated an array of worthy propositions for wine connoisseurs who aspire to enrich their collections.
WineChain is a premium NFT marketplace featuring digital assets that are backed by physical wine. The platform partners with renowned global wineries, allowing oenophiles to acquire exclusive beverages before they are released on the traditional market.
This is not the first blockchain project aimed at modernizing winemaking. Earlier, we reported on the partnership between the Cardano Foundation and the National Wine Agency of Georgia, as well as reviewed the Bored Grapes metawinery owned by BAYC holders.
Dr. Loosen Indutiomarus Riesling 1981 Source: twitter.com/WinechainCo
From wineries to customers, without middlemen
The founders of the WineChain initiative are individuals with extensive experience in entrepreneurship and come from both the wine industry and the Web2/Web3 sector:
- Marc Perrin is the CEO of the family-run French winery, Château de Beaucastel;
- Guillaume Jourdan is the CEO of VitaBella, a French consulting agency for wine and luxury brands, and the Chief Evangelist for the Wine NFT industry;
- Xavier Garambois is the former Vice President for EU Retail at Amazon and the Executive Chairman of MangoPay;
- Nicolas Mendiharat is the CEO of WineChain and co-founder of Palate Club, Recommend, and Skihorizon.
WineChain co-founders. Source: winechain.co
The WineChain platform integrates with Ethereum and uses Polygon to issue wine NFTs. According to the founders, blockchain technology is the perfect solution for verifying the authenticity of wine, its sale, and confirming ownership rights. Detailed information about the sale of the drink by wineries and secondary transactions is recorded on the blockchain until the physical wine is redeemed and the bottle is sent to the owner. After that, the NFT is burned, preventing fraudulent attempts to obtain the drink again.
WineChain provides buyers with a significant advantage, as it guarantees the authenticity and superior quality of the wine:
- Partner wineries sell exclusive drinks using NFTs on this platform;
- Insured beverages are transported from the producer's warehouse to the WineChain storage facility, where they are kept at regulated temperatures and ensured complete safety until they are ready for shipment;
- Upon redeeming the bottle, customers can verify the authenticity of the wine by comparing the code on the bottle to the digital NFT code.
What is WiNeFT?
WineChain, a WiNeFT Marketplace Source: twitter.com/WinechainCo
WiNeFT is the name of the wine-themed NFTs available on the WineChain marketplace. These digital assets are backed by a physical bottle of wine, which is shipped to the buyer after the WiNeFT is burned. If desired, owners can keep their WiNeFT in storage with the company for an additional fee.
WineChain partners with select wineries to offer unique WiNeFT drops, ensuring high-quality products. These wineries set their own prices for digital assets and receive a commission after each sale.
The marketplace has already hosted two drops featuring premium wines such as the 2009 Cos d'Estournel red and the Fleur de Miraval rosé. Currently, there is a drop for a rare 1981 German Riesling from Dr. Loosen Indutiomarus, with an asking price of 4284 USDC.
How to acquire WiNeFT?
- Sign up on WineChain
- Obtain a crypto wallet provided by the marketplace's partner, Magic
- Fund your cryptocurrency wallet with the necessary amount in USDC
- Purchase WiNeFT
- Place your wine in the WineChain storage, order delivery, or sell your beverage on the marketplace
