dVIN Labs, the team behind the innovative dVIN protocol, has officially launched the dVIN Protocol from stealth mode. Built on the Solana blockchain, the protocol aims to bring the $1 trillion wine industry on-chain by leveraging data, Decentralized Physical Infrastructure Networks (DePIN), and tokenization.
Transforming Wine into Digital Assets
David Garrett, Co-Founder and CEO of dVIN Labs, expressed his excitement about the launch: “By transforming each bottle into a unique digital asset, the tokenization of luxury wine enhances the social and economic dimensions of wine collecting and investing.” The protocol’s core innovation is turning each bottle of wine into a Digital Cork™ NFT, creating a new way for enthusiasts to engage with and invest in wine.
To mark the launch, dVIN Labs introduced the Cellar Challenge, a unique initiative encouraging participants to tokenize bottles from their home cellars. Participants earn points by sharing their tokenized wine bottles with up to 12 friends, who each receive Tasting Token™ NFTs. These Tasting Tokens are minted when a bottle is opened, and the Digital Cork is destroyed. Over time, Tasting Tokens act as a virtual tasting journal, enabling winemakers to interact directly with consumers and offer personalized incentives.
Exclusive Experiences and Rewards
Collectors of Tasting Tokens gain access to exclusive experiences and special rewards from winemakers. The Cellar Challenge also allows participants to compete on leaderboards, earning additional points in “Beast Mode.” Early access to the challenge is available for Club dVIN members and several partner communities, including RealVision, CryptoMondays, and Madlads.
Points earned during the Cellar Challenge will be converted into $VIN tokens, which will be airdropped when the token launches in Q3 2024. Details on the $VIN token can be found in the $VIN Whitepaper.
dVIN Labs has partnered with SegMint GmbH to fractionalize 12 bottles of Weingut Egon Müller 2022 Riesling Scharzhofberger Auslese. These highly coveted bottles are now available as fractionalized investments on the SegMint platform. This partnership marks the beginning of dVIN Labs’ efforts to list luxury wines on various Real World Asset (RWA) marketplaces, including Jupiter’s Giant Unified Marketplace (GUM).
About dVIN Labs
dVIN Labs aims to integrate the $1 trillion wine industry with blockchain technology, enabling wine enthusiasts to monetize their data and be rewarded for their activities. Simultaneously, winemakers can incentivize consumers to share data, driving deeper relationships and making their businesses more efficient and profitable.
This launch represents a significant step in bringing the age-old tradition of wine collecting into the digital age, offering new opportunities for both collectors and winemakers.
Image by Tim Mossholder from Unsplash
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