Business Daily Media
Business Marketing

Grand Cru Cellar Enters NFT Space as the First Redeemable Wine NFT in Asia

Wine Distributor Partners with SOLARR to Offer Redeemable NFT for Physical Wine

HONG KONG SAR - Media OutReach - 9 June 2022 - Grand Cru Cellar (GCC), one of the largest wine importers and distributors in Hong Kong, announced plans to enter into the Non-fungible token (NFT) space, making it the first wine distributor in Asia to offer a wine NFT.

The strategic move is set to revolutionize the wine industry in Asia by leveraging blockchain and NFT technologies.

Grand.jpg
Wine Distributor Partners with SOLARR to Offer Redeemable NFT for Physical Wine


GCC's wine NFTs will be developed in a strategic partnership with SOLARR, Asia's first decentralized NFT-Fi platform. The wine NFTs will include a collection of exclusively designed NFTs representing 360 bottles of Château Margaux fine wine spanning 30 vintages from 1978 to 2007 in the winery's history. This unique collection is ex-Château which was stored and delivered directly from the winery, remarkably preserving its quality since 1977. Collectors are willing to pay a premium of up to 100 percent more in prices for vintages stored and sold directly from winery to collectors as there is no question of authenticity.

NFT holders can exchange the NFTs for physical bottles of wines and once redeemed, the NFTs will be destroyed to mark their redemption. Until the wine NFT has been redeemed, the physical fine wines will be safely stored in a temperature and humidity-controlled warehouse to maintain their quality. These wine NFTs can be freely traded on SOLARR's NFT-commerce platform or even given as gifts to family and friends.

"NFTs will help to increase the liquidity and price discovery of high-end fine wines. The auction market for these fine wines has always existed but if the bidding flow is low, the wine's value will be locked up due to a lack of bids," says Mic Wong, the NFT project representative at Grand Cru Cellar. "Once liquidity improves, the wine's true value can be realised. We are looking to cooperate with SOLARR to auction a rare and unique collection of Margaux wine."

"SOLARR's NFT-as-a-Service (NFTaaS) takes the complication out of NFT-commerce. Our one-stop, end-to-end NFT services offer a highly efficient way for GCC's wine collections to be auctioned off, eliminating the need for buyers to attend physical auctions," says Alex Lee, Founder and CEO of SOLARR. "SOLARR is helping GCC execute the entire NFT value chain from composing the utility, designing the NFTs, facilitating the auction, offering NFT payment gateway, all the way to managing ownership transfer of the physical wine."

NFT using blockchain technology increases trust and transparency in the wine industry by improving wine provenance. Wines with provenance that are traceable all the way to when they left the winery, become more valuable.


About SOLARR

SOLARR is Asia's first decentralised NFT-Fi platform, empowering users to increase utility, unlock value, and liquify NFTs within a secure multi-chain ecosystem with an integrated economic infrastructure, paving the way into the metaverse virtual economy. SOLARR's mission is to accelerate NFT mass-adoption with utility, accessibility, and NFT-commerce. Ultimately, SOLARR's vision is to facilitate the world's transition into the decentralised digital economy.

For more information, visit:
● Website:
● Telegram:
● Twitter:
● Discord:
● Instagram:

#SOLARR

News from Asia

Deleted

This Press release has been killed

Nexus International School (Singapore) Learners Present "Nexwell" Well-Being App For Peers

Nexus International School (Singapore) learners have developed a well-being app to provide their peers with continuous access to mental health support. SINGAPORE - Media OutReach Newswire - 20 F...

Audelacare Unveils Next-Gen One-Push Walking Stick for Effortless Mobility in the Elderly

Audelacare launches the One-Push Walking Stick—a mobility aid designed for comfort and safety in the elderly during movement SINGAPORE - Media OutReach Newswire - 20 February 2024 - Audelacare, ...

Diverse Ancient Volcanoes on Mars Discovered by HKU Planetary Scientist May Hold Clues to Pre-plate Tectonic Activity on Earth

HONG KONG SAR - Media OutReach Newswire - 20 February 2024 - Volcanoes are a common feature on the surfaces of solid planets within the solar system, resulting from magmatic activity occurring wit...

WRISE Launches WRISE Prestige to Cater to Growing Mass Affluent Segment in Asia Pacific

New business unit will capitalise on the region's rising affluence to expand wealth management offerings HONG KONG SAR - Media OutReach Newswire - 20 February 2024 - WRISE Group today announced...

Banyan Group’s Visionary Eco-Friendly Phuket Residential Community Now Launched for International Sales

Hong Kong exhibition in Causeway Bay the first international sales event for Laguna Lakelands since the USD2bn project was announced on February 1st, 2024 HONG KONG SAR - Media OutReach Newswire -...

Hong Kong International Airport Popular Souvenir Recommendations; Share the Taste of Hong Kong with Family and Friends

SHANGHAI, CHINA - Media OutReach Newswire - 20 February 2024 - Renowned as a trendy hub for worldwide shoppers, Hong Kong International Airport boasts a diverse array of both international and loc...

Catch the Lowest Prices Online at 3.3 Mega Shopping Sale: Shopee’s First Mega Sale of 2024

SINGAPORE - Media OutReach Newswire - 20 February 2024 - Shopee is excited to announce the highly anticipated 3.3 Mega Shopping Sale, set to take place from March 3rd to March 15th, 2024...

Etiqa Insurance Singapore returns as the Official NATAS Sponsor and Travel Partner for 2024

SINGAPORE - Media OutReach Newswire - 21 February 2024 - Etiqa Insurance Singapore, a leading general and life insurer, today announced its continued sponsorship of the 2024 National Association o...

HKU Engineering researchers achieve breakthrough in quantum sensing that leads to new opportunities of applications in monitoring dynamic processes in biological systems

HONG KONG SAR - Media OutReach Newswire - 21 February 2024 - A collaborative project led by Professor Zhiqin Chu, Professor Can Li and Professor Ngai Wong, at the Department of Electrical and Elec...

Popular

The top 7 ways your business can benefit from process mapping

It’s near impossible for a business to improve when there isn’t clarity about who is doing what and—importantly— how they’re doing it. To gain a more detailed view of the way internal processes function, many businesses undert...

Tips on How to Create a Perfect Logo for Your Business

Creating a company logo might seem to be an easy process, but it's not. It entails several details, and you also have to compress everything into an image and a few letters. Therefore, you must be smart in designing it. Don't ...

Top 3 Marketing Tactics

Marketing is an essential part of any business. It means exposure for your brand or company, it can generate sales, and increase profits, leading to growth. There are many ways in which businesses can use marketing to their adva...

Virtual Office