July 16, 2024

GrtWines introduces a framework for tokenizing excellent wine.

April 10, 2024
2Min Reads
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The Web3 wine marketplace GrtWines (https://www.grtwines.com/), which caters to investors and enthusiasts, is pleased to announce the official launch of its digital platform, which allows users to collect, trade, and store excellent wines using tokens backed by assets.

GrtWines was established to cater to the increasing demand of younger collectors. It is a leading player in the US$441 billion market, which was previously exclusive. GrtWines offers a seamless, safe, and inclusive way for both novices and experienced collectors to access, purchase, and invest in this historically profitable asset class through tokenization.

The wine-backed tokens offered by GrtWines are correlated with real, investment-quality wines that are easily exchanged or redeemed on the company's marketplace. This ensures the stability and long-term value of fine wines while offering investors and wine collectors flexibility, transparency, and liquidity. Peer-to-peer blockchain technology allows for direct access to and trade of premium wines, circumventing the drawbacks of conventional auction systems and doing away with the need for middlemen.Wines are sourced directly from and stored in ideal condition at reputable wineries and trusted partners like CVBG, an iconic Bordeaux negociant. This ensures the highest quality and provenance and makes wine an appealing option for portfolio diversification for both wine enthusiasts and astute investors, until it is redeemed and delivered.

Under the direction of former CLSA Chairman Jonathan Slone, blockchain specialist Victor Yin, and wine industry veteran Mathieu Chadronnier, as well as globally recognized wine critic James Suckling, GrtWines is a group of experts who appreciate the artisanship in wine collection and aim to bring a fresh source of liquidity to the typically closed world of illiquid asset classes.

 

"As a wine connoisseur, I'm passionate about GrtWines in preserving the rich heritage while building a transparent and connected community that is driven by the consumers," stated Jonathan Slone, CEO and co-founder of the company. Well-aged wines, fine art, and luxury timepieces are examples of traditional alternative assets that have garnered a lot of popularity among younger consumers as elevated lifestyle and portfolio diversifiers. We think that everyone should be able to enjoy this experience, and that our platform will transform this outdated sector and ultimately promote wine appreciation by combining premium wines with tokenization.

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