CHICAGO, Oct. 17, 2024 (GLOBE NEWSWIRE) -- BlockCellar, the open-architecture platform for physical-backed NFTs, today announced a strategic collaboration with Bordeaux Index Ltd., a global leader in fine wine and spirits merchant services. This effort aims to tokenize investment-grade wines and spirits, leveraging blockchain technology to bridge the physical and digital worlds. By combining the tangible value of fine wines and spirits with the security and flexibility of blockchain-based digital ownership at scale, this initiative represents an important development in the collectibles market.
With this initial drop, BlockCellar will tokenize nearly 17,000 cases of wine from over 700 world-class producers. These physical assets are securely stored by Octavian Wine Services Ltd., ensuring the utmost care and provenance. Collectors from more than 30 countries can now seamlessly buy, sell, store, and trade these assets digitally, with the option to redeem the physical items at their convenience.
"By bridging the gap between traditional wine and spirits merchants and Web3 technology, we're creating a scalable, open-architecture ecosystem for physical-backed NFTs," said Marcus Franklin, co-founder of BlockCellar. "Our blockchain-enabled approach addresses many of the logistical challenges and frictions in the wine and spirits market, making investment and collection more accessible and secure for enthusiasts worldwide."
This collaboration not only simplifies the way collectors interact with fine wines and spirits but also opens new opportunities for investors seeking exposure to these assets. By tokenizing real-world items, BlockCellar and Bordeaux Index are modernizing ownership and management of physical assets in the digital space.
About BlockCellar
BlockCellar is an open-architecture tokenization platform for investment-grade wine, spirits, and casks. By tokenizing real-world assets, BlockCellar provides a practical, secure, and innovative solution to the challenges of physical ownership and asset control. The platform offers greater levels of transparency, traceability, efficiency, and liquidity, aiming to transform the $550 billion collectibles market. For more information, visit blockcellar.com or follow us on Twitter @blockcellar.
About Bordeaux Index
Bordeaux Index is a leading global fine wine and spirits merchant, offering a comprehensive range of services to collectors and investors worldwide. With a focus on innovation and customer service, Bordeaux Index provides access to the world's finest wines and spirits, combining traditional expertise with cutting-edge technology. For more information, visit bordeauxindex.com.
Media Inquiries
Marcus Franklin
Co-Founder
pr@blockcellar.com
+1.773.999.7547
