Care for some fine wine in the Metaverse? This is what Wiv Technology is building on The Sandbox in partnership with Creative & Game Design Studio My Reality. The partners released some teaser photos and progress of the plot on the virtual world to the community’s delight. In a tweet, Wiv Technology shared that their goal is to “create a unique experience.”
According to its profile, WIV Technology is in the business of turning investable wines into high-yielding NFTs. Each tradable wine NFT asset will represent a real wine, be it by bottle or by case. Wineries are in charge of storing these wine bottles in a secure, environmentally stable and insured bonded warehouse. Since there’s a physical asset backing the NFTs, the value is more calculable than speculative.
So launching a plot on The Sandbox makes sense because users can now “follow the evolution of wine, from soil to Sandbox through this partnership.”
The platform is confident that the Metaverse move is timely because the “pandemic has been terrible for wine producers. Sales to restaurants and other public venues, representing around half of all the wine traded globally, have plummeted.” However, “some vineyards and wine merchants have become adept at offering an online experience to potential customers, leading virtual tastings and tours of cellars and vineyards.”
More about Wiv Technology’s Recent Milestone
The Sandbox partnership is not the only milestone that’s keeping Wiv Technology busy. Two weeks ago, the innovative fintech platform dropped its first US wine NFT! For this, WiV has tokenized a case of the 2015 vintage Dominus Estate Othello wine. According to the company, this is the first time a US wine is getting dropped as an NFT.
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