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

Specifically launched by the former e-commerce manager of Amazon Europe, WineChain is a new independent NFT platform dedicated exclusively to the great wines of the world. An initiative that confirms the increasingly important porosity between the world of wine and Web3.

Gradually, the world of wine is converted to the mysteries of blockchain, NFT and Web3. Are these barbaric terms enigmatic to you? This is normal, but it shouldn’t last. The technological revolution taking place around cryptocurrencies, blockchains, metaverse and “non-fungible tokens” has already strongly permeated the world of luxury brands such as that of artistic creations: the idea is to dematerialize one to give it a “virtual” life in in addition to or in place of its physical reality, to ensure it, to give it greater traceability, but also to control its circulation, its exchanges, its flows of speculation from one end of the chain to the other. If the big luxury brands, always eager to be as close as possible to their customers, quickly engulfed themselves in these technologies (LVMH thus launched the Aura platform last year with Prada and Cartier), so far the world of wine has been generally cautious about the subject. Today Xavier Garambois, former boss of Amazon Europe, joins Guillaume Jourdan, general manager of the VitaBella agency in Paris and Nicolas Mendiharat, general manager of the Palate Club of San Francisco, to create WineChain, an NFT that aims to connect the great estates to the new generations of wine lovers around the world. “

Security and traceability

Xavier Garambois, with almost twenty years of experience in Amazon and in particular nine years at the head of e-commerce in 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 started first from an observation that the market for great international wines is unbalanced, between a constantly growing demand and an offer that is not keeping up. This market is therefore becoming a luxury market, which has to deal with scarcity. However, the big luxury brands have a very strong relationship with their consumers and a keen desire to control their distribution, which ultimately great wines are unable to do. Hence the idea of ​​a marketplace that would allow these large domains to recreate a connection with their customers.. “

Specifically, how does the principle of NFTs (these famous non-fungible tokens) work and the 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 manufacturer is therefore in uninterrupted contact with his customers and has access to an impressive chain of data, with all that that implies in terms of exploitation possibilities – loyalty, events … This also allows properties to control royalties. on speculation around their wines, which practically does not happen today. Even if a domain does not want its wine to become too speculative, to impose very high royalties: everyone can conduct their own strategy“, Details Xavier Garambois. ” The other strength of WineChain is to build a logistic structure that will manage the storage and physical distribution of the wines. The coffers will then remain in one place until the NFT is, one day, traded with their physical counterpart. It is a guarantee of traceability but above all of the quality of conservation of the wines, which has not 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. It is time to bring together a wide range of French, Italian, Spanish and German producers who have already expressed their interest in it. technology. The Perrin family, from the Château de Beaucastel in Châteauneuf-du-Pape, is already involved in this ambitious project that comes at an opportune moment: the world of wine and spirits trembles more and more at all the possibilities offered by NFTs. . Foreign initiatives such as WiV or Clubdvin have already emerged, and it is important that French operators quickly occupy the ground in this highly competitive universe, as Xavier Garambois points out. After a few bangs like the partnership between Dom Pérignon and Lady Gaga a few months ago, the big brands are getting structured and want to go fast.

A way of the future for grand crus

In Bordeaux, even traditional traders feel the movement accelerating. So 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 latest WineParis fair, the Maison returns to innovate by allowing the general public to experience the Primeurs 2022 campaign live in NFT format. In collaboration with about fifteen Grands Crus Classé from Bordeaux, it is launching a collection of NFT which allows 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.“, Details the press release of the trading house. Its vice president Jacques Bouey, very enthusiastic about the prospects of this technology, explains: ” NFT technology is a new way of doing our work, it is faster, more efficient and more transparent marketing, without the whims of transporting and storing wine crates around the world, with greater authentication and traceability, possibility of geolocation … This is a future way for grand crus and high-end wines. We are only at the beginning, 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 on sale, in partnership with iDealwine, 10 magnums of his cuvée “Phi” 2021 en primeur, in the form of NFT. Unique magnums, each with a tag signed by a tattoo artist. The sale was a surprising success, with over € 22,000 grossed! Another ten magnums will go on sale in September on the OpenSea platform. ” We ourselves were surprised by the success of this operation“Excites Laurent David who still has a lot of experience in the technology field, having been a senior executive at Apple for many years (a portrait that will soon be read 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, as well as the artistic dimension contributed to the attraction for collectors. Furthermore, this assures the buyer, that he knows that the wines are stored for five years at iDealwine but that he 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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