NFT REVIEW MARKET
Crypto.com and InterCellar, a leading Web3 marketplace for fine wines and spirits, have collaborated to launch an initiative in wine collecting: real-world asset tokenization. This concept aims to enhance liquidity and traceability for wine collectors and offers a new way to participate in wine trading before the wines are even bottled.
The initial release, for a limited time only, features a premium selection of wines, including Château Cheval Blanc 2023, Château Angelus 2023, Château Lafite Rothschild 2023, Château Mouton Rothschild 2023, Le Petit Mouton De Mouton Rothschild 2023, Château Carruadas de Lafite 2023, and Château Leoville Las Cases 2023.
The drop begins on June 5, but eligible users, such as “Loaded Lions” holders and primary buyers from the previous “VIK Wine 2018” drop, can access it 24 hours early by logging into their accounts. Public access will follow for all other users.
These ‘En Primeur’ wines are available for purchase exclusively on Crypto.com and InterCellar.
En Primeur, also called “wine futures,” is a unique way of buying wines before they are officially released. This purchasing method allows customers to invest in wines while maturing in barrels.
NFTs for Digital Wine Ownership
The innovation lies in the minting of NFTs. By buying an NFT, collectors obtain digital ownership of the wine and the corresponding physical bottle, which is securely stored in InterCellar’s warehouse.
Additionally, collectors benefit from a 5% rebate on their initial purchase, which can be used for future wine orders with InterCellar, further enhancing their collections.
It’s important to note that “En primeur” wines are not immediately available for delivery. These wines remain with the producer for at least 24 months before being bottled and shipped to InterCellar. Starting June 1, 2026, these wines will become deliverable to collectors.
From Digital Cellars to Physical Bottles
InterCellar, based in France, ensures traceability, excellent storage conditions, and liquidity in the secondary market. Collectors can build their digital cellars and trade, exchange, or redeem their digital representations of the physical bottles.
However, physical bottles stored by InterCellar incur storage fees of 1.2€ per item per month, which needs to be paid for the duration of NFT ownership or until the bottle is redeemed.
Collectors are encouraged to withdraw their NFTs and connect them to InterCellar.io by October 4, 2024, to redeem their physical bottles and access all related benefits.
Overall, this initiative by Crypto.com and InterCellar introduces a unique and innovative method for wine enthusiasts to collect and trade sought-after wines, enhancing liquidity, traceability, and the overall wine-collecting experience.
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