London, January 14, 2020: — WiV Technology, the blockchain-based unique asset technology, is delighted to announce the completion of the world’s first transaction of wine futures.
At the start of January 2020, WiV Technology completed the world’s first transaction of a tokenised en primeur wine from the Bordeaux 2018 vintage on its blockchain. The seven cases of Chateau Croix Mouton 2018, which are not yet physical, were issued with ERC-721 asset tokens (WiV_ID Token). The wine was sold by a merchant who had bought the cases en primeur during the campaign in April 2019. The buyer received seven digital tokens that establish the ownership and provenance of each case as being en primeur, from source at the chateau. A record of this transaction and the data related to it now exists on the WiV blockchain. The asset tokenholder will now be able to re-trade the wine in the marketplace as though it were physical along with its provenance record.”
Tommy Nordam Jensen, WiV Technology CEO, states “We are very excited to finally have made the first innovative Decentralised Financial product for the wine industry using our technology. This is a big day for us, as we will truly be one of the first to issue digital certificates on physical assets”.
About WiV Technology
WiV Technology is a blockchain-based unique asset technology designed for producers and merchants. With offices in London, Oslo and Singapore, the WiV blockchain technology issues non-fungible tokens to create a global, secure asset register and decentralised financial marketplace for fine wine and spirits. WiV facilitates provenance record-keeping, trading liquidity, geolocation and market assurance.