Crypto.com, in collaboration with InterCellar, a leading Web3 marketplace for fine wines and spirits, is launching a new initiative aimed at innovating wine collecting. This innovative project focuses on the tokenization of real-world wine assets, enhancing both liquidity and traceability for collectors.
Premium Wines by InterCellar and Early Access
The initial release, set for June 5, features a selection of premium wines. This includes Château Cheval Blanc 2023, Château Angelus 2023, Château Lafite Rothschild 2023, and Château Mouton Rothschild 2023. Further it includes Le Petit Mouton De Mouton Rothschild 2023, Château Carruadas de Lafite 2023, and Château Leoville Las Cases 2023.
Notably, holders of “Loaded Lions” NFTs and prior “VIK Wine 2018” buyers access the drop 24 hours early. This exclusive window allows them to log into their accounts and secure their desired wines ahead of time.
En Primeur and Digital Ownership
Selling as “En Primeur” or wine futures, the featured wines allow collectors to invest early. This approach lets collectors secure their bottles before official release, while the wines mature in barrels. Crypto.com and InterCellar’s innovation lies in minting NFTs that represent digital ownership of these wines. When collectors purchase an NFT, they gain digital ownership of the wine and the corresponding physical bottle, securely stored in firm’s warehouse in France.
Furthermore, collectors benefit from a 5% rebate on their initial purchase. This rebate can be used for future wine orders with InterCellar, enabling them to expand their collections further. However, it is important to note that “En Primeur” wines are not immediately available for delivery. These wines will remain with the producer for at least 24 months, after which they will be bottled and shipped to InterCellar. Collectors can expect delivery of these wines starting from June 1, 2026.
While storing the physical bottles, InterCellar ensures excellent storage conditions and traceability. Collectors have the opportunity to construct their digital cellars and trade, exchange, or redeem their digital representations of physical bottles. However, physical bottle storage incurs a fee of 1.2€ per item per month. Collectors must pay this fee for the duration of NFT ownership or until redeeming the bottle.
InterCellar encourages collectors 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 collaboration introduces a unique and innovative method for wine enthusiasts to collect and trade sought-after wines.
