The Farandole Blog

How Farandole is disrupting the Wine & Spirits auction world by Corentin Calmels

Farandole’s disrupting contribution

For this year’s edition and for the first time in its history, Toques & Clochers has chosen Farandole as a trusted partner for its expertise in NFTs to introduce an innovative element to the auction. In concrete terms, Farandole will allow winners of four specially designed Mathusalem bottles (6 litres) by artist, Marc Gaillet, and one barrel of Chardonnay from Château de Flandry, a prestigious and renowned wine estate in Limoux, to claim an NFT pegged to their bottle/barrel via the Blockchain.

Tokenizing a physical asset means associating a digital identity to it through NFTs. These digitalized versions, evolving on the Blockchain, act as certificates of authenticity and ownership. Thus, it becomes simple for any owner of an NFT linked to their owned bottle to resell and exchange it via the Blockchain. The advantages of tokenization lie in the ease of access to the exchange, without going through traditional and complex marketplaces, as well as in the peer-to-peer exchange. Furthermore, it is possible to verify the whole history of the asset and to be sure of its provenance. However, the major advantage of using NFTs when buying or reselling wine or spirits bottles is the possibility to make purchases, as investments, without having to physically exchange the asset.

This is where Farandole comes in: Farandole is an NFT Marketplace for wine and spirits. It aims to disrupt the wine & spirits industry by making rare and sought-after products available to a larger audience, including the younger generation. In its community there are wine & spirits lovers, tech-savvy blockchain and crypto enthusiasts, as well as art collectors and enthusiasts. On their platform they invite merchants, distributors, brands, and collectors to sell their wine & spirits with royalties on secondary market sales. Farandole is a new generation of e-commerce platform that is leveraging blockchain technology to ensure the authenticity and ownership of a product. Their services also include transaction security, custody, and storage space. Farandole is building its marketplace on Avalanche, a decentralised, open-source proof of stake blockchain with smart contract functionality. They are powered by $FAR Token, a utility token that allows users to purchase NFTs and access other benefits such as exclusive product offers, private sales, and the ability to stake tokens to grow your digital assets’ wealth.

A unique experience provided by Farandole

This auction is open to distributors, wine collectors, and investors. Bidders interested in participating in the auction can do it online via www.interencheres.com. The winners of the barrel and Mathusalems will be contacted after the event. Farandole will help winners create a wallet on its marketplace and mint their NFTs that show proof of ownership. They can then claim their barrel or Mathusalems and collect their physical items.

The NFTs will provide their owners with more than just a certificate of ownership. Each winner will receive a Farandole’s membership card with $FAR Token, Farandole’s cryptocurrency. The tokens can be used to purchase wine & spirits NFTs on Farandole’s marketplace. Members will also be given special discounts throughout the year as well as exclusive access to staycations, invitations to wine tastings, winery visits, and events in the metaverse.

Associated with the winners’ NFTs, there are several other service offerings that will be included such as physical and virtual tours of the Flandry estate, wine tourism services around Limoux, as well as a dinner at the restaurant of the starred chef of this 33rd edition, Glenn Viel, in his restaurant of the Oustau de Baumanière.

These auctions are therefore a real opportunity for wine and spirits lovers to not only obtain valuable lots while taking a step forward in the use of Blockchain, but also to enjoy exclusive benefits that any wine lover would dream of.

Originally published at https://www.linkedin.com.