WiV Technology raises $1.5M in a token sale to revolutionize the wine industry

By: Daniela Kirova
Daniela Kirova
Daniela was born in Bulgaria, grew up in Chicago, and then moved to Michigan to attend the University of… read more.
on Jul 5, 2021
  • WiV drawing increasing attention to non-fungible tokens (NFTs) in DeFi and the wine industry
  • WiV platform integrates tamper-proof identity markers ensuring ownership
  • RedCave Ventures praise WIVA for being "one of most innovative projects" in crypto

WiV Technology, a blockchain-based unique asset trading platform, is drawing increasing attention to non-fungible tokens (NFTs) in DeFi and the wine industry. On Monday, WiV said it raised $1.5 million via the sale of its $WIVA tokens. Notable investors who took part in the capital raise include RedCave Ventures, SuperNatural, StableNode, Daniel Maegaard, 1010 Capital, and Tokenization Ltd. 

Unique features of the tokenized WiV platform

Among the unique blockchain features, the WiV platform for tokenized wine has integrated is tamper-proof identity markers ensuring ownership, WiV Technology said in a press release obtained by Invezz. It creates a digital duplicate of each physical case of wine produced. Vineyards will create NFTs – digital certificates of authenticity and ownership of cases and bottles of fine wine, which investors will be able to buy and hold. While the setup will result in quicker sales and higher liquidity, the group of investors will help WiV succeed in its core mission of revolutionizing the wine industry. 

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WiV CEO Tommy Jensen said:

“We are immensely proud to have both RedCave Ventures and Daniel Maegaard as lead investors. RedCave brings a wealth of experience in the crypto space, representing a group of very successful tech entrepreneurs that clearly understand and have great beliefs in the Real-World Asset that we represent. Both RedCave and Daniel are long-term investors, who see the great value we will bring to the wine industry, both with DeFi products and NFTs.”

Daniel Maegaard commented that WiV was well-positioned to benefit from the rapidly growing space where digital and physical meet. Supporting the team was an easy decision for him to make. A RedCave Ventures spokesman praised WIVA for being among the most novel projects in the crypto space, lending digital assets much needed liquidity. RedCave looks forward to WIVA’s ‘bright future.’

Benefits of $WIVA token: Full traceability and more

NFTs offer highly innovative ways to market and promote wines, and WiV’s whole ecosystem is fuelled by the $WIVA token. Holders of the token can trade, exchange, sell, and gain access to DeFi possibilities at a minimal cost. The platform also makes it possible for stakeholders to collect and hold data on each asset’s trade, origin, and transaction history safely.

More and more VC funds are considering the blockchain an investable technology. There are still stakes left for those interested in developing an ecosystem that will bridge the gap between DeFi and fine wines through NFTs. WiV intends to use the funds to accelerate the development of its tokenized fine wine platform. It’s also looking to make new hires in design, engineering, operations, and other functions.

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