Wine in Block uses blockchain and NFT to secure the wine market

· Médias

The article highlights Wine In Block, an innovative company that is revolutionising the wine industry by using cutting-edge technologies such as blockchain and NFTs (Non Fungible Tokens) to secure the wine market. At the heart of this initiative is Sylvie Busca, CEO of Wine In Block.

The company's starting point was the alarming financial losses in the European wine industry due to counterfeiting, estimated at €2.4 billion a year. To solve this problem, Sylvie Busca and her team set up Wine In Block in 2020, with a clear mission: to combat counterfeiting and offer an innovative customer experience using blockchain and NFT technology.

Wine In Block sets itself apart by providing a unique solution to counterfeiting in the wine world. They use NFT to create a unique 'digital passport' for each bottle, enabling unquestionable authentication and traceability. This process secures the bottles and assures consumers of the authenticity of the wine they buy.

As well as combating counterfeiting, Wine In Block establishes a link between wine buyers and producers. They are developing membership NFTs to enable wineries to create clubs and invite their customers to special events. In addition, the startup plans to launch its own marketplace in June 2023, offering a marketplace for wine lovers.

Sylvie Busca has clear ambitions for the company. She anticipates substantial growth with the launch of the marketplace in June. She emphasises the importance of the wine industry in France, as the country's second-largest export by value, and expresses confidence in the potential of her company to add value to bottles of wine.