Home » The Spanish Wine Market Enters the World of NFTs with Clos Mogador 2021

The Spanish Wine Market Enters the World of NFTs with Clos Mogador 2021

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Barcelona, ​​25.10.22. — The wine industry isn’t famous for big leaps in innovation, and the recent trend has been toward more traditional farming, with some buzzwords being organic, regenerative and biodynamic.

But some wineries are pushing the envelope and trying to blend art, wine and technology. One of them is the collaboration between the artist Xavier Vacquet and the famous winery Clos Mogador.

Together they created “Satori Time”. Art devised by Vaqué His concept uses a handcrafted camera to capture all the light the grapes need to ripen.

An image called “solarigraphy” uses a long exposure over 39 days to show the sun’s streak across the sky over a vineyard.

The project will take place during the 2021 season and the wine itself is currently aging and ready for bottling in the second half of 2023. The print edition of “Satori Time” was nominated for the best Spanish photobook by PHotoEspaña.

This fall, the digital version of Satori Time will be launched as NFT in collaboration with Clos Mogador 2021 bottle and technology partner trustINwine.

Clos Mogador 2021 will be the first NFT made in wine in Spain, with a limited release of only 55 bottles.

With the purchase of the Clos Mogador 2021 NFT, you will receive a digital certificate of ownership of one bottle of wine. He can also be one of the sole owners of the first Spanish Wine NFT to be released.

Owners of Wine NFTs have the right to purchase a bottle when it becomes available. No one else can buy this wine at this time. Clos Mogador, together with trustINwine, guarantees storage and security until you decide to redeem.

The limited-edition NFT will be released as a bundle with Vaqué’s artwork and act as a ‘key’ to the exclusive community of owners. As the project develops, early supporters of the project will gain access and opportunities to special events and future projects.

NFTs will be released on the Polygon blockchain, which minimizes energy consumption and carbon footprint.

Why NFTs in Wine?

The use of blockchain in the wine industry is on the rise as it can help mitigate one of the major problems in the world of wine: fraud.

NFTs are digital certificates of ownership that have been used primarily to create verifiable ownership of digital art. NFTs are often hyped, but the technology behind them is simple. Anyone who owns an NFT in their “wallet” (a secure storage of cryptocurrency and her NFT) has rights attached to the NFT.

When it comes to the wine industry, the use of NFTs will have a huge impact on how collectible wines are bought and sold. The market for fine wines and spirits is estimated to reach US$1.4 trillion by 2027, with fraud costs about US$3.18 billion annually. In environments where the loss is very widespread, it makes sense to use simple technical solutions to solve it.

One of the arguments against using NFTs in wine is the idea that wine collectors enjoy wine at home. However, there is already a segment of the market that uses remote cellars to keep their wines in optimum condition. Coupled with this, collectors between the ages of 25 and 40 are unlikely to own a wine cellar.

With the emergence of different metaverses, more ways for people to identify themselves online, and digital proof that they own the best wines for investment, the use of NFTs is the obvious solution. increase.

The project will start on October 28th. Click here for details: www.trustinwine.com/satori-time

site: www.trustinwine.com

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