• Farandole will allow wine NFTs to be traded on its own platform from June 30th
• The startup wants to democratize the industry and ensure more transparent trade
• There is a dedicated Farandole showroom in the Metaverse and an exclusive Farandole Club
“Farandole is a diverse community of wine and spirits professionals, passionate collectors, artists and blockchain enthusiasts around the world.” – this is how Farandole describes himself on the company website. The startup plans to enable trading in NFTs linked to physical bottles of wine on its own platform from June 30th. This should make it easier for collectors to buy special bottles, make the industry more transparent and democratize.
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Farandole wants to enable better authentication in the wine industry
The CEO of the company, which was founded in December 2021, is Maxime Hamonic. In a Farandole press release he says: “I grew up around French Limoux wines and I am very interested in showing how our product can solve the authentication problem facing the wine industry today. We hope that we using NFTs to democratize the industry while attracting a new wine lover audience who can learn more about and collect the wonderful wines and spirits we offer.”
The name Farandole comes from a Provençal folk dance and is intended to illustrate how closely the people at Farandole work hand in hand.
Farandole has its own showroom in the Metaverse
One of the distinctive features of the Farandole concept is that the physical bottle of wine stays in the same professional warehouse, even if it changes hands, until the owner decides to drink it. In this way, the quality of the bottle can be maintained in perfect condition over the years and there is no loss of value due to external circumstances: the wine can increase in value undisturbed with age. Farandole promotes investing in wine by saying that over the past few years, wine has appreciated more in value than the S&P 500, the Dow Jones or crude oil. In addition to wine, spirits such as cognac, scotch and whiskey can also be traded.
The Farandole platform is based on the Blockchain Avalanche, you can pay for the NFTs either with cryptocurrencies or by credit card. In addition to the NFT Marketplace, there is also a dedicated Farandole showroom in the Metaverse and a Farandole Club.
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Image sources: Evgeny Karandaev/iStockphoto, iQoncept / Shutterstock.com