The collaboration between Crypto.com and InterCellar has paved the way for a groundbreaking initiative in wine collecting: real-world asset tokenization. This innovative concept is designed to revolutionize how wine collectors engage with their passion by enhancing liquidity and traceability in the market. By offering a new way to participate in wine trading even before the wines are bottled, this initiative opens up exciting opportunities for enthusiasts.
The initial release of this initiative features a premium selection of wines that will appeal to connoisseurs. Wines such as Château Cheval Blanc 2023, Château Angelus 2023, and Château Lafite Rothschild 2023 are among the exclusive offerings. This limited-time event is set to begin on June 5, with early access granted to eligible users like “Loaded Lions” holders and primary buyers from previous wine drops such as “VIK Wine 2018.”
The Concept of En Primeur
One of the key aspects of this initiative is the concept of “En Primeur” or wine futures. This unique purchasing method allows customers to invest in wines while they are still maturing in barrels. By minting NFTs, collectors can obtain digital ownership of the wine and the corresponding physical bottle, securely stored in InterCellar’s warehouse. This ownership also comes with a 5% rebate on the initial purchase, which can be utilized for future wine orders, enhancing the overall collection.
InterCellar, based in France, plays a crucial role in ensuring traceability, excellent storage conditions, and liquidity in the secondary market. Collectors have the opportunity to build digital cellars and engage in trading, exchanging, or redeeming their digital representations of physical bottles. However, it is important to note that physical bottles stored by InterCellar will incur storage fees of 1.2€ per item per month, which must be paid for the duration of NFT ownership or until the bottle is redeemed.
Looking Towards the Future
As the initiative progresses, collectors are encouraged to connect their NFTs to InterCellar.io by October 4, 2024, in order to redeem their physical bottles and access all related benefits. The initiative by Crypto.com and InterCellar marks a significant step forward in how wine enthusiasts collect and trade sought-after wines. Through enhanced liquidity and traceability, this initiative promises to elevate the overall wine-collecting experience to new heights.
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