Introducing GrtWines: New Web3 Wine Marketplace Opening Doors for Next Generations of Investors to Vintage Fine Wines with Asset Tokenization
Co-founded by CLSA former Chairman Jonathan Slone and internationally acclaimed wine critic James Suckling, GrtWines aspires to expand multi-generational access to the centuries-old asset class
HONG KONG, April 11, 2024 /PRNewswire/ -- GrtWines (https://www.grtwines.com/), a Web3 wine marketplace for enthusiasts and investors, proudly announces the official launch of its digital platform to collect, trade, and store fine wines with asset backed tokens. Launched to attract the growing appetite from new generations of collectors, GrtWines stands at the forefront of this formerly exclusive and high-performing US$441 billion market, presenting an inclusive, secure and seamless opportunity for seasoned connoisseurs and newcomers alike to access, acquire and invest in the historically lucrative asset class through tokenization.
GrtWines' wine-backed tokens are tied to tangible, investment-grade wines, which can be easily redeemed or traded at GrtWines' marketplace, providing investors and wine collectors with the benefits of flexibility, transparency, and liquidity while ensuring the stability and long-term value of fine wines. The peer-to-peer blockchain platform enables direct access and trading to fine wines, surpassing the limitations of traditional auction markets and eliminating intermediaries' involvement. Until redeemed and delivered, wines are sourced directly from and stored in optimal condition at renowned wineries and trusted partners such as CVBG, an iconic Bordeaux negociant, ensuring the utmost quality and provenance, and an attractive option for both wine enthusiasts and investment-savvy individuals to diversify their portfolios.
Backed by internationally acclaimed wine critic James Suckling, wine veteran Mathieu Chadronnier, and led by CLSA's former Chairman Jonathan Slone, blockchain expert Victor Yin, and entrepreneur Meaghan Becker, GrtWines is composed of a team of professionals who value the artisanship in wine collection, with the mission to introduce a new stream of liquidity within the traditionally closed world of illiquid asset class.
Jonathan Slone, CEO and Co-founder at GrtWines, said, "As a wine connoisseur, I'm passionate about GrtWines in preserving the rich heritage whilst building a transparent and connected community that is driven by the consumers. Traditional alternative assets such as well-aged wines, fine art and luxury watches have gained significant traction among younger buyers, serving as both portfolio diversification and elevated lifestyle. We believe this experience should be accessible for all, and by pairing fine wines with tokenization, our platform will revolutionize this archaic industry and drive wine appreciation in the long run."
Debut on April 16, GrtWines is delighted to unveil "The Jefferson Collection" – a tribute to the US Founding Father Thomas Jefferson's well-documented interest in fine wine, including Château Haut-Brion, Château Lafite Rothschild and Château Margaux. With a total of 21 wine-backed tokens, this collection exhibits the historical preferences of Jefferson through a meticulously curated selection of Ex-Château Bordeaux wines, perfectly stored and delivered by CVBG.
Victor Yin, CTO and Co-founder at GrtWines, said, "The establishment of GrtWines is a significant milestone in the maturation of the digital asset industry and blockchain technology. With the use of smart contracts, we double down on proof of ownership and provenance, effectively enhancing the overall transparency and security in the persistent counterfeit market. At GrtWines, we are committed to fostering a democratized wine industry that transcends tradition and swirls participation for generations, ushering in a new, vibrant era of vinous exploration."
In January, GrtWines successfully released its inaugural collection "100 Magnums", featuring iconic Bordeaux wines. The collection was sold out within four days, with its first wine-backed token acquired in 54 seconds, signifying a strong market interest in real-world asset tokenization. GrtWines is dedicated to enriching the utility of wine-backed tokens far beyond the inherent value of the bottle, pouring forth a rich and immersive experience for the digitally native generation and expanding the value of underlying assets. Committed to delivering a self-exploration for wine enthusiasts and new generations, GrtWines aspires to provide seamless access to a range of unique wine-related opportunities, while also guaranteeing the authenticity, transparency, and security of this timeless, lucrative asset.
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About GrtWines
GrtWines is a Web3 wine marketplace where enthusiasts around the world can embark on their wine discovery journey – collecting, trading, and storing fine wines with tokens backed by real bottles. Enriching the fine wine market using blockchain technology, GrtWines' asset-backed tokens ensure transparency, security, and authenticity, offering unprecedented access to the world's greatest wines that are directly sourced, professionally stored, and easily owned and traded.
SOURCE GrtWines
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