WineChain, the NFT platform dedicated to the great wines of the world

Launched in particular by the former e-commerce manager of Amazon Europe, WineChain is a new independent NFT platform exclusively dedicated to the great wines of the world. An initiative that confirms the increasingly significant porosities between the world of wine and Web3.

Little by little, the world of wine is converted to the mysteries of blockchain, NFTs and Web3. Are these barbaric terms enigmatic for you? It’s normal, but it shouldn’t last. The technological revolution that is underway around cryptocurrencies, blockchains, the metaverse and “non-fungible tokens” has already strongly permeated the world of luxury brands like that of artistic creations: the idea being to dematerialize a to give it a “virtual” life in addition to or to replace its physical reality, to secure it, to give it more traceability, but also to control from one end of the chain to the other its circulation, its exchanges, its flows of speculation. If the big luxury brands, always concerned to be closer to their customers, quickly engulfed themselves in these technologies (LVMH thus launched, last year, the Aura platform with Prada and Cartier), the world of wine has so far been generally cautious on the subject. Today, Xavier Garambois, former boss of Amazon Europe, is joining forces with Guillaume Jourdan, general manager of the VitaBella agency in Paris and Nicolas Mendiharat, general manager of Palate Club in San Francisco, to create WineChainan NFT platform that aims to “ connect the great estates to new generations of wine enthusiasts around the world. »

Security and traceability

Xavier Garambois, with nearly twenty years of experience at Amazon and in particular nine years at the head of e-commerce at Amazon Europe, but also a fine connoisseur of the world of wine since he had participated in the creation of the Wineandco site, details the origin of the project: We first started from an observation, that the market for great international wines is out of balance, between a constantly growing demand and a supply that is not keeping pace. This market is therefore becoming a luxury market, which must deal with scarcity. However, the big luxury brands have a very strong relationship with their consumers, and an acute desire to control their distribution – which, ultimately, the great wines are unable to do. Hence the idea of ​​a marketplace that would allow these major domains to re-create a link with their customers.. »

In concrete terms, how does the principle of NFTs apply (these famous non-fungible tokens) and some blockchain to the great wines of the world? ” Associating a wine with an NFT is the guarantee for the domain to be able to follow its life from A to Z, even if it is resold countless times. The producer is thus in contact with his customers on an uninterrupted basis and has access to an impressive chain of data, with all that this implies in terms of exploitation possibilities – loyalty, events… This also allows the estates to control royalties on speculation around of their wines, which is practically not the case today. Even, if a domain does not want its wine to become too speculative, to impose extremely high royalties: everyone can conduct their own strategy“, details Xavier Garambois. ” The other strong point of WineChain is to build a logistics structure that will manage the storage and physical distribution of wines. The crates will therefore remain in one place until the NFT is, one day, exchanged for their physical counterpart. It is a guarantee of traceability but above all of the quality of preservation of the wines, which will not have been around the world ten times. he continues.

The WineChain platform, which has already raised more than one million euros, will be launched in the last quarter of 2022. The time to bring together a large range of French, Italian, Spanish and German producers who have already expressed their interest for this technology. The Perrin family, from the Château de Beaucastel in Châteauneuf-du-Pape, is already involved in this ambitious project which comes at an opportune time: the world of wine and spirits is increasingly quivering before all the possibilities offered by NFTs. . Foreign initiatives like WiV Where clubdvin have already emerged, and it is important that French operators quickly occupy the field in this highly competitive universe, as Xavier Garambois points out. After a few flashes like the partnership between Dom Pérignon and Lady Gaga a few months agothe big brands are getting structured and want to move quickly.

A way of the future for the grands crus

In Bordeaux, traditional operators also feel the movement accelerating. This is how the Bouey house announced a few days ago that it was launching the marketing of several grands crus en primeurs in NFT format: ” After launching the first NFTs for Bordeaux Grands Crus Classés at the last WineParis fair, the House is innovating again by allowing the general public to experience the 2022 primeurs campaign live in NFT format. In partnership with about fifteen Grands Crus Classés of Bordeaux, it is launching a collection of NFTs allowing the purchase of a future case of 6 bottles of these. Among the first castles to join the adventure are Château La Tour Carnet, Château Dauzac, Château Cantemerle, Château Pape Clément, Château Gruaud Larose, Château Lagrange, Château Peby Faugères and Château Lafaurie. Peyraguey“, details the press release from the trading house. Its vice-president Jacques Bouey, very enthusiastic about the prospects of this technology, explains to us: “ NFT technology is a new way of doing our job, it’s faster, more efficient and more transparent marketing, without the vagaries of transporting and storing wine cases around the world, with a increased authentication and traceability, geolocation possibilities… This is a way of the future for grands crus and top-of-the-range wines. We are only in its infancy but it is essential to occupy the ground now. »

It is in the same logic that Laurent David, President of La WineTech and owner of Château Edmus in Saint-Emilion, recently put up for sale, in partnership with iDealwine, 10 magnums of its “Phi” 2021 cuvée en primeur, in the form of NFT. Unique magnums, each with a label signed by a tattoo artist. The sale was a surprising success, with more than 22,000 euros collected! Ten other magnums will go on sale in September on the platform OpenSea. ” We ourselves were surprised by the success of this operation“, enthuses Laurent David who nevertheless has a lot of experience in tech, since he was a senior executive at Apple for many years (portrait to be read soon in “Terre de Vins”). ” I think that the rarity of the product, its exclusive side, the rare profile of the product, 100% cabernet franc in biodynamics, vinified in egg and without added sulphites, just like the artistic dimension contributed to the attractiveness for collectors. In addition, this secures the buyer, who knows that the wines are stored for five years at iDealwine but who can exchange his NFT whenever he wishes. The enthusiasm for this technology is real, so much so that we plan to create an ‘NFT chair’ within WineTech. »

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WineChain, the NFT platform dedicated to the great wines of the world

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