We know that wine and cheese go together well, but what about wine and blockchain? That’s what Non-Fungible Token (NFT) marketplace Farandole aims to combine together. The company aims to build a global marketplace that allows the trade of fine wines and rare spirits by leveraging blockchain technology.
This ensure royalties go to producers on each transaction while providing authentication of purchase and a faster cheaper solution for consumers as each bottle is tracked during the entire product lifecycle from the supplier to the end buyer.
Launched in December 2021, Farandole looks to disrupt and modernise the wine & spirits industry by shining a light on solutions offered by the decentralised web. The physical bottle is stored in a professional storage warehouse while the digital product is traded. Wine traceability and qualitative data such as temperature and pressure will also be stored to guarantee the safekeeping of the asset.
In addition to the marketplace platform, Farandole will launch a Showroom in the metaverse, allowing brands to showcase their products and educate consumers about upcoming product releases.
The soft launch of Farandole’s marketplace will be in mid-May, while the official launch will come on 30 June, 2022. Public token sales and product launches will be available on decentralised and centralised exchanges.
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