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Kentucky Distiller Tokenizing $20 Million of Whiskey

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written by

Zachary

BITCOIN NEWS,
March 20, 2020

Kentucky-based Wilderness Trail Distillery to tokenize USD 20 million of whiskey on the blockchain

Wave Financial Group has announced that they will be tokenizing USD 20 million of whiskey from Kentucky-based Wilderness Trail Distillery, which is equivalent to roughly 10,000 to 20,000 barrels of liquor, and will ultimately become up to 4 million bottles of bourbon.

This project will be called the Wave Kentucky Whiskey 2020 Digital Fund, and the point is to give investors the opportunity to profit on the aging of the whiskey. Essentially, a barrel of whiskey is worth USD 1,000 before the aging process, but it can be worth up to USD 4,000 five years later.

Apparently the exact blockchain which will be used has not been confirmed yet, but Tezos (XTZ) seems to be the likely choice. Notably, there will be a secondary market where investors can trade the tokens, and this will be the first crypto-based whiskey market.

Overall, this is an excellent example of how blockchain tokenization can create new investment opportunities.

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Zachary

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