Wine
Posted: 1 week ago

WiV to Tokenize Georgian Wine

WiV Technology, a blockchain-based trading platform for unique assets, has signed an agreement with the Georgian government to move some of the country’s wines and their provenance onto WiV’s blockchain empowered platform.

According to a press release, WiV Technology has entered a long-term partnership with the Georgian government. Within this framework, local wine industry players will have their flagship brands represented in the NFT segmen

The team at WiV will also be developing a quality assurance standard for the county’s wine to enhance its reputation across the globe.

Under the terms of the agreement, several Georgian wines and their associated non-fungible tokens (NFTs) will be made available to a growing global network of wine producers, collectors, and enthusiasts on the WiV platform. This will bring Georgian wine to a far wider audience than it has had in the past.

WiV is also working to enhance the credibility of Georgian wine by developing a quality assurance scheme. This will be based on a panel of experts judging vintages to ensure that wines meet the highest industry standards.

WiV Technology is tasked with the eccentric challenge of integrating alcoholic drinks into the vibrant segment of decentralized financial protocols (DeFis).

The start-up is laser-focused on building a platform where producers and collectors can instantly buy, sell and borrow money against their wine—represented as crypto tokens.

To meet the interest of its growing community, WiV Technology is going to deploy its own community token, WIVA. It will act as a core native utility and governance asset for WiV.