Champagne houses Louis Roederer, Fleur de Miraval and Henri Giraud have agreed to sell ‘wines’ about him WineChain platform. As a digital asset backed by the physical bottle, WineChain NFT aims to enable the traceability and accessibility of fine wines to a new generation of connoisseurs. According to this tweet from WineChainaround 15 wineries have registered on the WineChain platform.

In addition to authenticating bottles with a blockchain-traceable proof label, the company also gives winemakers access to winery customer lists, warehousing and logistics facilities, and sustainable digital transactions. This is one of the key potential benefits of NFTs, not just for wine brands, but for any brand: the ability to learn more about their customers across channels and build a community of wine enthusiasts.

This benefit was mentioned by the direction of Louis Roederer when he participated in the 6 million euros funding WineChain received in September 2022 from several prominent wine families.

The Web3 innovation for wines provides additional benefits for winemakers. From wine is an asset class, tying tokens to the value of the bottles would be useful for resellers if their value increases over time. Top-tier wines are already traded internationally, but for others, NFTs enable product expansion across borders, allowing people around the world to discover and market them.

Given the variety of benefits, other companies provide services similar to WineChain. raw is a membership-based wine delivery service that uses blockchain technology to ensure product authenticity while connecting wine enthusiasts with their producers. In Singapore, the TATTOO The wine marketplace runs on Ethereum and tracks bottles of wine from origin to delivery. Returning to the spirits, LVMH hennessy has launched several NFTs and one social club web3and Metacask focuses on tokenized spirit.

“By creating NFTs for each case of wine directly at the source, wineries will have a transparent view based on their customer data, will be able to store wines in perfect condition while they are marketed, and will be able to benefit from royalties. commissions throughout the secondary market,” said Max Mersch of Fabric Ventures, one of the companies that backed WineChain’s €6 million funding.

Reports on the wine industry indicate a generally positive sentiment. According to the live-ex report covering trends in the fine wine market, the industry has remained fairly stable and serves as a hedge against inflation in terms of its value, with wine trades outperforming stocks and commodities. Simultaneously, the market has also witnessed a more measured approach to buying, with consumers buying less but better.