Ravencoin Stack
  • Home
  • Price Chart
  • Mining
  • Price
  • Wallets
  • Digital Art
  • NFT
    • Art
    • Beauty
    • Sports
    • Music
    • Fashion
    • NFT Events – Meetings
    • Trading cards
    • Learning
  • Exchanges
  • Books
Ravencoin Stack
  • Home
  • Price Chart
  • Mining
  • Price
  • Wallets
  • Digital Art
  • NFT
    • Art
    • Beauty
    • Sports
    • Music
    • Fashion
    • NFT Events – Meetings
    • Trading cards
    • Learning
  • Exchanges
  • Books
No Result
View All Result
RavencoinStack
No Result
View All Result
I show You how To Make Huge Profits In A Short Time With Cryptos!
Home NFT

How to use NFTs to prove ownership of a wine collection investment

April 2, 2022
in NFT
How to use NFTs to prove ownership of a wine collection investment

Are you interested in buying wine as an investment? By using NFTs you can prove ownership of the wine which is usually stored in a secured location and insured.

You might also like

Non-Fungible Tokens Explanation For Complete Beginners

The Top Five Benefits Of Ravencoin Non-Fungible Tokens

How Can A Professional Solo Singer Make Money From Ravencoin NFTs

While most of the excitement around NFTs has been in the world of digital art, wine lovers wanting to get in on the action can rest easy. In recent months the wine world has dipped its toes into the arena of NFTs, and this week the first all-NFT wine brand is being brought to market. 

If at this point you are scratching your head and asking yourself, “What’s an NFT?” you are not alone. In short, it is a non-fungible token, a digital asset that represents a real-life item including music, art, and videos. Non-fungible means that it is unique and cannot be replaced or traded for another token of equal value, unlike a bitcoin, which is worth the same as any other bitcoin. When an NFT is purchased, the transaction is recorded on a blockchain, providing an indelible record.

Some of the higher profile NFTs that have received a lot of press are recording artist Grimes selling six million dollars worth of images and short videos set to music, Twitter TWTR +2.6% co-founder Jack Dorsey’s first tweet being auctioned off for 2.9 million dollars, and digital artist Beeple’s NFT fetching $69 million at Christie’s.

The wine world’s flex into NFTs has not been on such a grand scale, but that may change as more producers get into the market. This past April former NBA player Yao Ming’s Yao Family Wines offered 200 bottles of its 2016 The Chop Cabernet Sauvignon along with an NFT. The bottles can only be bought with cryptocurrency Etherium, and 100 bottles sold immediately upon release. OpenSea, a marketplace for blockchain-based digital items, is now allowing traders to speculate on wine and on futures. Earlier this summer, Bordeaux’ famed Chateau Angelus sold an NFT that offered ownership of a barrel of 2020 Angelus along with 3D artwork based on the Angelus label. 

This week sees the launch of the first all-NFT wine brand, Hello Fam, whose opening release is a Syrah Blend from Jezreel Valley winery in Israel. The founders are Jacob Ner-David, who is a partner in Vinsent, a direct-to-consumer wine platform; Adam Ghahramani, who runs one of the largest NFT communities and collections, Untamed Elephants; and Tiffany Wong, a designer who has worked with many wine and spirits brands. Called Genesis Vintage 2021, the inaugural release will not be sold or distributed outside its initial NFT launch.

One Hello Fam Grape Fam NFT is equal to one 6-bottle case of Hello Fam Genesis Vintage 2021, which will be stored in an insured, temperature-controlled facility. Hello Fam has partnered with artist Ha Yael to create individual works of art that can be framed and displayed. “Early bird minting” started on August 31st, and 250 cases were sold on the first day. Part of the excitement may be due to an element of luck added to the launch. As co-founder Adam Ghahramani pointed out, “You might get lucky during our Minting process and get a very rare, golden Grape Fam which could be worth 6-figures.” Ghahramani also added a little foreshadowing regarding the next release, telling us, “We will be launching our second wine in collaboration with one of the biggest charity-driven NFT communities in the world, Untamed Elephants, soon.

We spoke with founding partner Jacob Ner-David about  NFTs, Hello Fam, and the future of wine collecting. 

Jacob Ner-David: Well, besides being the hottest trend in crypto meets art and culture, NFT stands for non-fungible token, which means a unique digital asset, registered on a blockchain. Much of NFTs are 100% digital, but each one is unique, unlike a currency like Bitcoin, where every coin is the same, and thus fungible. Recently NFTs are combining unique digital art with a physical asset in the “real” world. HelloFam is releasing NFTs where each one is a unique collectible grape illustration, but also represents a very real case of wine being made exclusively for this NFT “minting” by Jezreel Valley Winery, who have consistently received 90+ scores on their wines from [a variety of publications.] 

WWG: What is the difference between buying Grape Fam or buying highly allocated wine from a winery with a hard-to-enter list? 

JND: The ease in trading NFTs makes them a highly liquid asset. (I can’t avoid those puns.) Platforms like Opensea.io provide a place for the NFTs to trade. In the case of Grape Fam, when you want the wine, you redeem, or “Burn” in blockchain speak, the NFT, and receive the physical wine. Each bottle is also registered for authenticity on the Ravencoin blockchain. When you redeem the NFT, you decrease the amount of Grape Fam tradeable NFTs . 

WWG: Do you expect that others will follow suit and that we will see more NFTs in the wine world? 

JND: Yes. Investing in wine is becoming more and more popular, through all different pathways. Combining NFTs with wine allows for real value to support the NFT. Many digital art NFTs have shot up in price. Wine backed NFTs will ensure that there is a “floor” as well, which is the market value of the wine. Even without unique artwork, NFTs allow for trading in wine to take place on established platforms, and democratizes wine investing, moving it away from the intimidating existing wine trading sites, many of whom are only open to “professionals.” 

Wine has proven itself to be one of the most resilient alternative asset classes over the past 30 years, yet access to investing in wine has been largely restricted to a small group. NFT backed by quality wine represents a major step forward in opening up wine investing to a much larger community. 

There already have been some baby steps in this direction. Hello Fam promises to be the largest scale NFT release backed by wine.

Check out my website or some of my other work here. 

Via

Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party, and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high-risk, with high-risk and unproven projects.

Readers should do their own research and consult a professional financial advisor before making any investment decisions.

Tags: Wine

Recommended For You

Non-Fungible Tokens Explanation For Complete Beginners

by admin
January 21, 2023
0
Beginners guide

In the digital world, non-fungible tokens are revolutionizing how we think about ownership and value. A NFT is a unique digital item that can be bought, sold, and...

Read more

The Top Five Benefits Of Ravencoin Non-Fungible Tokens

by admin
January 19, 2023
0
Benifits in teh outline of a cloud

Ravencoin (RVN) is a blockchain-based platform for creating and transferring non-fungible tokens (NFTs), also referred to as unique digital assets. Virtual real estate, gaming items, and digital art...

Read more

How Can A Professional Solo Singer Make Money From Ravencoin NFTs

by admin
January 3, 2023
0
Drwaing of singer at microphone

The decentralized, open source Ravencoin blockchain platform permits the transfer of assets from one party to another, including securities and financial instruments. The Ravencoin blockchain is a convenient...

Read more

Decentralized Transactions With Ravencoin Tokenomics

by admin
October 5, 2022
0
Abstract image of blockchain

Ravencoin is a blockchain that facilitates the issuance of digital assets. It is similar to a normal share but is more flexible and secured. It also gives companies...

Read more

Chronoly Offer Fractionalised Timepiece Ownership NFT Marketplace for Rolex

by admin
September 19, 2022
0
Patek Philippe watch

Chronoly is changing the way that people can buy, sell, and invest in rare luxury watches. Chronoly is the world’s first 24/7 watch investment platform that is making...

Read more
Next Post
People having picnic in a field

As an artist, how can the nOFTEN NFT marketplace help sell my collections

Ravencoin price

Ravencoin

Ravencoin

$0.03

RVN -5.51%

Related News

Simple explanation of using decentralised finance for peer to peer financial lending

Simple explanation of using decentralised finance for peer to peer financial lending

July 3, 2022
Retro Stickers | Vintage TV | Nickelodeon hint at 90s Programmes NFTs

Retro Stickers | Vintage TV | Nickelodeon hint at 90s Programmes NFTs

June 13, 2022
Miami Herald supports local artists with NFT marketplace in 2022

Miami Herald supports local artists with NFT marketplace in 2022

April 8, 2022

Browse by Category

  • Art
  • Beauty
  • Books
  • Digital Art
  • Exchanges
  • Fashion
  • Learning
  • Mining
  • Music
  • NFT
  • NFT Events – Meetings
  • Price
  • Sports
  • Trading cards
  • Uncategorized
  • Wallets

Pages

  • Home
    • Contact Us
  • Privacy Policy
  • Ravencoin Price USD Chart Current and Archive
  • Terms and Conditions
  • Your download link

CATEGORIES

  • Art
  • Beauty
  • Books
  • Digital Art
  • Exchanges
  • Fashion
  • Learning
  • Mining
  • Music
  • NFT
  • NFT Events – Meetings
  • Price
  • Sports
  • Trading cards
  • Uncategorized
  • Wallets

BROWSE BY TAG

Art artist Beginner Charity Chris Brown Clinique collectable Collectible Community copymint Dapps Daz 3D digital assets Ethereum football Fraud Gamification Gen Z Hydra limited edition loyalty Makeup Marketplace Mining music NFT NFTH Nike only gems OpenSea open source phygital Portfolio prediction Price Proof of Stake QR Code rare Seaport Shopify tokengated trading cards WAX WEB3 Wine

© 2022 Ravencoin Stack

No Result
View All Result
  • Home
  • Ravencoin Price USD Chart Current and Archive
  • Mining
  • Price
  • Wallets
  • Digital Art
  • NFT
  • Exchanges
  • Books

© 2022 Ravencoin Stack

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?