Tokenized wines?: they launch new platforms to create virtual wine cellars

The “tokenization” of wines It is a business that is still incipient in Argentina but to which different companies have recently joined. marketing platforms.

Buy a NFTs (Non Fungible Token) of a wine, that is, a “tokenized wine”, and setting up a “virtual wine cellar” is possible thanks to platforms such as Drinksify and Matic Market.

There you can acquire NFTs (unique digital assets certified by a smart contract that is validated in a block of data) from the labels that the wineries offer, in addition to accessing different benefits.

Wine tokenization: what is the background

The first precedent at the local level took place in April 2022, when the National Institute of Viticulture (INV) signed a commitment document with the company OpenVino, by developer Mike Barrow, in order to facilitate access to the services provided by the platform to wineries in the country.

Barrow, a pioneer in applying blockchain and tokenizing wine in the world, marketed its first tokenized item in 2018 through the sale of a crypto asset under the name MTB18, backed by bottles of wine from that vintage.

“Buy a token from a physical asset It is the same as buying a good that will maintain its value over time or will appreciate even more,” said Carlos Moyano, founding partner of Drinksify, highlighting the importance of the business.

In this framework, recentlylaunched Matic Market, Web3 platform for NFTs for physical products, specialized in wines and delicatessen, developed by PALA Blockchain.

With a catalog that exceeds 100 products, from 20 wineries and producers, Matic Market introduces NFTs as a bridge between wines and their digital identity, offering exclusive and verifiable ownership of each bottle.

Tokenized wines: what are the benefits

Rodolfo Vigliano, co-founder and CEO of PALA Blockchain, highlights that “buy a bottlea, both before and after harvest, and from anywhere, is a paradigm shift for producers, wineries and wine lovers.”

In this regard, Moyano highlights that buying a “tokenized” wine allows you to get involved in winemaking and secure a bottle, box or barrel when it goes on the market.

Another benefit is that they do not take up physical space, he adds, while revealing that “there are clients who are already setting up their own ‘virtual’ cavas and they will make them ‘real’ next year, when the wines are ready, while others have bought NFTs to make original gifts.”

Pablo and Nicolas Solano, co-founders of Matic Market, They assure that “having a Digital Winery in your pocket, being able to enjoy your favorite wines with a couple of clicks or sharing with your friends the NFT with the details of that wine that you drank and loved, makes the experience of enjoying the wine more begins and ends in the glass, but is enjoyed from the purchase, during the storage and until the recommendation.

For Dolores Lavaque, in charge of selecting the wines at Matic Market, The platform “not only expands the horizons of the wine business, but also revolutionizes the way wine is collected and enjoyed.”

For wineries, adds Lavaque, it represents an opportunity to achieve global markets without the exorbitant costs of internationalization, offering direct access to a global clientele and the possibility of personalized marketing campaigns.

Regarding the security of purchasing “tokenized” wines, from Drinksify they explained that “there should be no safer sites to buy than those that sell tokens since these operations are carried out on a Blockchain network, that is, inviolable transactions that cannot be hacked or modified.”