Winechain (wiNeFT) Partners with CMA CGM Group for Logistics of Fine Wines 

Winechain the NFT platform (wiNeFT /Winechain NFT name) designed to create direct links to new generations of wine consumers around the world, has today announced the partnership with the CMA CGM Group. This global player in sea, land, and air logistics solutions will take a minority shareholding in Winechain alongside its founders.

Winechain is the fi­rst independent NFT platform for ­fine wine estates. This wine-meets-technology project has been designed to create direct links with new generations of wine consumers around the world has now raised over €1 million in backing from top international wine estates and others.

The initiative was launched in April 2022 by three Frenchmen: Xavier Garambois, former head of Amazon Europe, Guillaume Jourdan, CEO of VitaBella, Paris, and Nicolas Mendiharat, CEO of the San Francisco Palate Club.  The plan is to go live by the end of 2022 with the issue of the ­first wiNeFT (Winechain name NFT).

Xavier Garambois, joint founder of Winechain states:

“Although the acquisition of NFTs will be the first thing that enthused buyers will do on Winechain, the day will come when the owner of the wines will want to have them shipped to their homes, wherever that might be in the world, and in the very best conditions. Apart from enabling access to rare wines, Winechain also takes care of logistics to ensure that the wines arrive at their final destination in perfect condition. This worldwide partnership with the CMA CGA Group is a mark of confidence in the future and our strategy that enables us to look to the long term. We will be able to benefit from the expertise and experience of CMA CGA and the major support that they can bring in terms of sea and air transport and logistical services.”

 

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BlockBar NFT Gifting Platform Launches with 300 Bottles of Penfolds Wine

BlockBar, the world’s first direct-to-consumer NFT platform for wine and spirits has just diversified further by launching a gifting capability comprised of 300 bottles of Penfolds.

This new initiative lets the BlockBar community gift a highly coveted collectible wine or spirit connect the physical and digital world. In fact, BlockBar says the market for investing in high-end collectible spirits, like Penfolds wine, has increased by 582 % in the last decade.

Sam Falic, co-founder of BlockBar, told Forbes about the platform’s extension which targets both crypto experts and beginners: “This is of great value to add to your digital portfolio, aside from the digital art you own, you can now own a digital bottle and build your digital bar which is also backed by physical assets.”

NFT (Non-fungible tokens) are currently popular (almost in every industry), from art to rare wine and spirits. Since its founding in 2018, BlockBar has allowed consumers to purchase asset-backed NFTs directly from brand owners, to burn, redeem or sell the physical product. The actual bottles are stored in a secured facility in Singapore. BlockBar also gives the chance to gift the physical product, and the NFT gifting platform is designed so that anyone can use it.

Penfolds wine estate has launched a limited edition NFT tied to its rare Magill Cellar 3 barrel of wine, available to purchase for $130,000.

Dov Falic, the other co-founder of BlockBar, explained: “All you need to know is that you are receiving a gift which is a physical bottle that is stored for you in a secure location; the fact that it’s built on blockchain or uses NFTs is the mechanism to prove provenance and ownership. You can take possession of the bottle anytime you want.”

BlockBar’s first NFT gift launches on 18 January 2022, with limited edition NFTs linked to 300 bottles of Penfolds Magill Cellar 3 2018, priced around 0.13 ETH ($467). The founders described the Australian producers’ rare wine as the highest quality and representative blend of the brand’s Cabernet Sauvignon and Shiraz and “one of the most collectible and giftable wine brands in the world.”

When the NFT is purchased, the cryptographic version is stored securely on BlockBar with proof of authenticity held on the blockchain as a digital certificate of ownership. The recipient will receive an email with an invite to create or sign into an account and accept their NFT, receiving full ownership. The receiver now can choose to redeem the physical product, trade its NFT version within the BlockBar marketplace or store it in their virtual bar, all with no additional transaction fees.

The limited-edition NFT release includes a buyer experience: the first three people to purchase six bottles of NFT Penfolds Magill Cellar 3 2018 are invited to a private virtual session with Penfolds Chief Winemaker, Peter Gago, and will receive a personalized plaque for their wine gift box as well.

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The World’s First Wine Bank Launches Cryptocurrency

The Italian Wine Crypto Bank (IWCB), the only global wine bank based on blockchain and cryptocurrency launched today (September 21, 2021) what it calls “the first cryptocurrency in the world entirely guaranteed by wine.”

The coin used is called IWB and this evolutionary utility token is tradable through LATOKEN Exchange on the secondary market, particularly with Italian wines.

Currently, there are 27 Italian wineries that have partnered with IWCB for the IWB cryptocurrency, according to IWCB.

The wineries include: Allegrini, Arnaldo Caprai, Baracchi, Barattieri, Boroli, Casa E. Di Mirafiore, Castello Di Perno, Castello Di Querceto, Elena Fucci, Fattoria La Magia, Incontri Organic Wine, Macchie Santa Maria, Marchesi Mazzei, Mocali, Planeta, Podere Il Carnasciale, Poggio Al Tesoro, Salvatore Molettieri, San Polo Montalcino, Tasca D’Almerita, Tenuta Di Capezzana, Tenuta L’impostino, Tua Rita, Vini Franchetti Tenuta Di Trinoro, Passopisciaro, Sancaba, and San Filippo.

“The big news is that, compared to all the other tokens, IWB can be redeemed by its holder at any time, obtaining fine Italian wines from the IWCB portfolio for the same value paid for the tokens in the IEO”, explains Davide Casalin, Operations Manager of the IWCB.

This means the investment in IWB tokens is fully guaranteed by fine Italian wines, and it will also allow IWB tokens in the future to be used to directly buy wines from producers, according to IWCB bank.

“The Italian Wine Crypto Bank is a winning way to expose the fine wines of our Partner Wineries to the new market of crypto users, which are now over 221 million worldwide, and expected to double in the coming months”, adds Rosario Scarpato, Founder and Director of the IWCB.

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IronGate.Wine becomes the first online wine retailer to accept cryptocurrency

IronGate.Wine, a leading online retailer of private, rare wine collections, has announced that they have completed testing and will immediately begin accepting Bitcoin (BTC) and Bitcoin Cash (BCH) as payment methods for their online inventory of vintage wine. Utilizing the processing system provided by BitPay, IronGate.Wine will allow buyers from all over the world to shop for vintage wine from the cellars of private collectors using this form of currency.

“We are very excited to be the first online retailer of our kind to accept Bitcoin as a form of payment for the incredible wines that we have available,” said IronGate.Wine President, Warren Porter. “Our research has shown that the adoption of cryptocurrency is on the rise and we want our customers to be able to use whatever payment form they prefer. We view Bitcoin and Bitcoin Cash as a currency, not unlike the Dollar or Euro and know that our customers would like the option of spending it on this luxury item.”

Porter continued, “aside from convenience, the fraud-proof nature of crypto compared to credit cards will completely eliminate fraudulent transactions. In addition, accepting crypto payments greatly decreases our processing fees compared to credit cards. IronGate.Wine is consistently one of the lowest-priced providers in the United States of fine and rare wine, but we can be even more competitive by further reducing our processing costs by several percentage points.”

“Bitcoin is a global currency and will allow international buyers to purchase wine cheaper and more quickly than credit cards and bank wires,” said Sonny Singh, Chief Commercial Officer at BitPay. “One of the biggest headaches merchants have today is chargebacks, and for online merchants this headache is compounded with the added risks of identity theft and fraud. BitPay leverages the promise cryptocurrency provides with transactional transparency. It is impossible to use cryptocurrency for fraud as every transaction is verified, recorded and stored on the blockchain. Further, as a push transaction, similar to taking cash out of a wallet, the user sends the exact amount of Bitcoin needed to pay the bill. This eliminates traditional credit card fraud and identity theft risks associated with credit cards. As a result, there are no chargebacks.”

In addition to Bitcoin, IronGate.Wine accepts all major credit cards, ACH and wire transactions, and will soon be expanding to accept AliPay, WeChat Pay and Apple Pay to round out the most comprehensive array of payment options in the industry.

Based in upstate New York and shipping worldwide, IronGate.Wine is an online retailer of vintage wines meticulously sourced from private collectors throughout the United States and Canada. Currently, there are over 2,500  unique wines available for purchase through the website, which will grow to over 4,000 in the next four weeks.

Kibo Sushi Announces Partnership With T.OS to Develop Retail Blockchain Solution

Kibo Sushi is proud to announce that it’s teaming up with T.OS (pronounced ‘tios’)

Kibo Sushi is proud to announce that it’s teaming up with T.OS (pronounced ‘tios’), a leading digital currency company, to develop a blockchain payment system for the Canadian food service industry.

“Kibo Sushi is continuously looking to optimize our customers’ experience at our restaurants,” said Bo Seo, founder of Kibo Sushi. “T.OS is looking to the future of payments and is working to normalize the use of crypto-currency. With this partnership, customers will be able to use their cryptocurrency to pay for meals at our ten Kibo Sushi locations across Toronto. It’s a first-of-its-kind partnership and we’re thrilled to be bringing it to Canada.”

T.OS is a decentralized currency based on blockchain technology. It boasts a fast transaction speed, meaning both the customer and restaurant can be confident the payment has been processed as quickly as a cash or card settlement.

To raise awareness, Kibo Sushi is offering $5.00 CAD off at any of its Toronto locations to all customers who share news of this project on social media in their stores during October.

To learn more about Kibo Sushi, its menu and locations, please visit www.kibosushi.com.

Kibo Sushi was founded in September 2012 and includes ten sushi locations across the Greater Toronto Area, including: Toronto, Etobicoke, Woodbine, Harbourfront and North York. The rapidly expanding company will be looking for ambitious franchise partners in Q4 2018. A Kibo-branded market carrying a variety of Asian products is also launching in November 2018.