WiV will introduce the first DeFi fund backed by the fine wine sector in January. WiVA, the network’s native utility token, will play a role in the fund’s governance token and deliver priority participation rights to holders.
DeFi Fund To Open Access To Fine Wine Returns
WiV Technology, a blockchain-based wine investment platform, has announced that it will soon launch WIVX, a $10 million DeFi fund for the platform’s WiVA tokenholders. Pegged with the traditional wine industry, WiVA serves as both the utility and governance token of the network, bridging wine producers, sellers, and buyers, all while significantly reducing transaction costs.
The $10 million open-ended DeFi pool, where WiV will serve as the lead investor, combines the best aspects of blockchain and cryptocurrencies with the historical returns and outperformance of the fine wine industry. Together, this will help WiVX cement its place as a promising DeFi fund backed by real-world assets (RWA).
Based on a proprietary algorithm, WiV will select promising wine investments to include in the fund according to historical performances, industry reviews, and weather forecasts from satellites to provide investors with more opportunities for generating positive returns and outperforming industry indices.
According to WiV Technology Co-Founder Håkon Harberg, “Identifying exceptional wines before they are recognised by the rest of the market motivated our progressive data-focused approach to wine investing. Our data analysis methods and proprietary insights will help this fund maximise returns and stand independently from other industry indices.”
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 to our goal of creating value to our ecosystem token WIVA, making this type of investment open to a far wider audience.”
Blockchain-Based Platform For Tokenizing Fine Wine
As the largest global blockchain-based wine exchange platform, WiV Technology has successfully integrated the fine wine industry with the growing ecosystem of decentralized finance (DeFi) products.
By employing 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 wines into high-yielding non-fungible tokens (NFTs) to support record-keeping, geolocation validation, trading liquidity, and investor assurances. WiV is also the first platform to offer NFTs backed by real-world physical assets on Polygon, helping it ensure that transactions are faster, cheaper, and fully transparent.
Since its inception, WiV Technology has received backing from prominent names within the blockchain and fine wine industries, including Mantra Dao, Redcave Ventures, Co-founder of Stable Node Gustav Arentoft, Ex-Security Minister of Georgia Levan Bodzashvili, and Daniel Maegaard, among others.
To meet the growing demands of its expanding community, WiV inaugurated its platform’s utility and governance token, $WIVA, in August. WiVA acts as an industry-pegged token and, by extension, offers numerous features, including single asset staking and competitive rates for yield farming. Token owners gain priority access to participation in the upcoming DeFi fund as a governing DAO community, allowing them to vote for investment strategies, asset allocations, and rebalancing events.