FAQ
Frequently asked Questions
- What is NFT Wine? Some wines are viewed as desirable to collectors and buyers as a result of their scarcity. The demand for these wines creates a potential market. We source the best possible wines
- What am I buying? You are buying a specific case of fine wine, but by doing it through WiV, you are buying it without the hassle of sorting out the wine, checking its provenance and authenticity, or sorting out storage and delivery. To protect your investment, every bottle or case of wine that is traded via WiV is professionally stored in secure locations. By minimizing the wine’s physical movement, we help ensure that it is maintained in peak condition.
- Where is the wine stored? Traded wines are stored with an approved bonded warehouse in Europe, so it does not move if it is already is in storage. If the wine is still at a chateau and is up for release it will be stored under our custody until it is ready to be move to the bonded warehouse.
- I have bought a WIV Token. What now? Each WiV Token represents a case of wine, so it you buy a WiV Token, you now own the physical case of wine which is securely stored either in a professional warehouse in our custody or in our merchant network. Your WiV Token is proof that you own the physical asset. You can build your collection by purchasing more tokens, you can trade these tokens with other collectors. Eventually you will be able to request delivery if you wish.
- Can I get the wine delivered? Not yet. The assets will be securely stored in a professional warehouse in our custody. We are looking at offering delivery solutions in connections with our merchant network, but we need to ensure that the value of the wine is protected. In due time, you will be able to drink up your token, but for now, look on your wine as an investment asset that is being protected in a vault.
- Why invest in wine? The market for investment-grade fine wine has been rising over the past twenty years. As an asset class it compares favourably to prime property and equity markets, while providing a greater degree of price stability. Investors in fine wines range from individuals through to collectors, wine merchants and wine funds. Investors typically access the market through brokerage platforms or wine merchants, with the large wine merchants being the primary buyer of new wine from vineyards.
- Why invest in fine wine through WiV? Current fine wine trades involve extensive paper-trails to prove provenance and ownership. Managing trades via the blockchain means that ownership can be transferred at the touch of a button, reducing administrative time and cost. Because all fine wines sold via WiV are recorded on a global, tamper-resistant ledger, ownership can be transparently passed between producers, sellers and buyers virtually instantaneously. By creating a transparent global marketplace, WiV will make it easier for producers and merchants to offer their wares, distributors to know where specific cases are and buyers to understand the provenance of the wine they are buying.
Last modified 1yr ago