WiV will introduce the first DeFi fund backed by the fine wine sector in January. WiVA, the network’s original utility token, will play a role in the fund’s governance token and offer priority sharing rights to its owners.
DeFi Fund to unlock access to good wine revenue
WiV Technology, the blockchain-based wine investment platform, has announced that it will soon launch WIVX, a $10 million DeFi fund for holders of WiVA tokens for the platform. Linked to the traditional wine industry, WiVA serves as a token for the utility and governance of the network, bridging the gap between wine producers, sellers and buyers, all while significantly reducing transaction costs.
The $10 million open DeFi pool, where WiV will serve as the lead investor, combines the best aspects of blockchain and cryptocurrency with historical returns and an edge in the fine wine industry. Together, this will help WiVX establish itself as a promising DeFi fund backed by real assets (RWA).
Based on a proprietary algorithm, WiV will select the most promising wine investments for inclusion in the fund based on historical performance, industry reviews and weather forecasts from satellites to provide investors with more opportunities to generate positive returns and outperform industry benchmarks.
According to WiV Technology co-founder Håkon Harberg, “Identifying exceptional wines before they are recognized by the rest of the market has motivated our progressive, data-centric approach to wine investing. Our data analysis methods and insights will help this fund increase returns and stand independently for other industry indicators.
Harberg adds, “Developing it as a DeFi fund based on physical assets means that we can make participation efficient, transparent and relatively low-cost. It is an important next step in achieving our goal of creating value for our tokenized WIVA ecosystem, making this type of investment open to a much wider audience.”
Blockchain-based platform for fine wine coding
As the largest global blockchain-based wine exchange platform, WiV Technology has successfully integrated the fine wine industry with a growing ecosystem of decentralized finance (DeFi) products.
Through the use of blockchain technology and NFTs, the platform allows wine producers, buyers, sellers, and enthusiasts to trade and borrow against their physical wine assets. This is accomplished by minting investable wine into high-yield non-fungible tokens (NFTs) to support record keeping, geolocation verification, trading liquidity, and investor collateral. WiV is also the first platform to offer NFTs backed by real physical assets on Polygon, helping it ensure that transactions are faster, cheaper and completely transparent.
Since its inception, WiV Technology has received support from prominent names in the blockchain and fine wine industries, including Mantra Dao, Redcave Ventures, Stable Node co-founder Gustav Arentoft, former Minister of Security of Georgia Levan Podzashvili, and Daniel Maigaard, among others.
To meet the growing demands of its expanding community, WiV opened its platform’s utility and governance token, $WIVA, in August. WiVA acts as an industry-linked token and thus, offers many features, including single asset stakes and competitive rates of yield farming. Token holders get priority access to participate in the upcoming DeFi fund as the governing DAO community, allowing them to vote on investment strategies, asset allocations and rebalancing events.
