WiV Technology is bringing fine wine trading to OpenSea

by Devin Finzer

We’re excited to announce our collaboration with WiV Technology, a blockchain-based platform for unique assets offering fine wine tokenization. This will be the first time a physical asset is tokenized and traded on OpenSea in its digital NFT representation!

Built on open standards

WiV assets are compliant with ERC721, a free, open standard that describes how to build unique, non-fungible tokens on the Ethereum blockchain. The WiV platform takes custody of the wine—allowing it to be freely traded among tokenholders—and provides a mechanism for end buyers to redeem the bottles when they so choose. This allows a thriving secondary market to exist without high overhead.

The launch will include wine like Chateau Lafite, Cheval Blanc and Chateau Margaux.

When we created WiV, we wanted to open up fine wine sales to new markets, and this partnership is a prime example of that philosophy. Crypto-collectibles are a world away from fine wine, but presenting WiV’s clients assets on OpenSea brings wine to a new generation of collectors who expect to be able to trade their assets quickly, efficiently and transparently and also opens up a new door for the wine industry.

Tommy Nordam Jensen, WiV Technology CEO

WiV recently completed the world’s first wine transaction, trading seven cases of Chateau Croix Mouton 2018 that have not yet been released. The wine’s buyers were issued with unique, fully tradable WiV_ID Tokens that prove their ownership.

Stay tuned for more details on the launch so that you can get your hands on some fine wine, and trade it directly through our marketplace!

WiV Wine Futures from Tommy Nordam Jensen on Vimeo.

About WiV Technology

WiV Technology is a blockchain-based unique asset technology designed for wine producers and merchants. With offices in London, Oslo and Singapore, the WiV blockchain technology issues non-fungible tokens to create a secure global asset register and decentralised financial marketplace for fine wine and spirits. WiV facilitates provenance record-keeping, trading liquidity, geolocation and market assurance. For further information, check out www.wiv.io

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