Winible - Tokenized wine on $ICX

1. Winible - Tokenized wine on $ICX

2. Project Category: Development

3. Introduction :

Hello everyone, we’d like to introduce Winible, our ICON project aiming to bring tokenized wine bottles to the ecosystem.

What is the cuvée 0?

At Winible, we want to allow people to be able to invest in wine bottles without owning a cellar. We want people to be able to take advantage of the speculation of the wine market and also be able to receive their bottles at home if they decide to burn their tokens. The Winible “Cuvée zéro” collection will be composed of bottles of different rarities, each of which will be individualized.

The main purpose of this initial cuvée is to prove that our system works on the ICON blockchain in order to launch a more ambitious phase that will aim to include French winegrowers in the process. We are currently in discussions with a limited number of French quality wine domains in order to select the best candidate to be the flagship of our first cuvée. We will handle the storage of the bottles. The bottles will be stored in a secure professional cellar to keep the bottles safe and at the right temperature.

Bottles rarity levels

The cuvée zero is a special historical cuvée! We want to offer rare bottles to our first users so that they can enjoy them afterward.

We are setting up a random system to spice up your investment in cuvé zero. You can discover the level of rarity just below

So we have 6 levels of rarity on our bottles, from original to diamond. The design of these bottles is not yet final and we want to rework them to offer something prettier.

On the label you can also see the qr code that certifies that this is the nft that you bought.

NFT distribution, trading

The initial distribution of the bottles will take place via a presale, we will assign each bottle to a token (and therefore a level of rarity) and we will sell them at the purchase price (so we will not make any profit on the sales).

Each bottle can then be exchanged on Craft, the ICON NFT’s marketplace that is being built by ICX_STATION and Staky. Initially, we wanted to distribute the NFT in a different way: 40% would be sold on presale and the rest directly on Craft. But given the recent success of hashmasks, we now believe that 100% presale would be way better because it would allow the market to price the different levels of rarity and that it would be generally fairer for users.

We’ve been NFT users for a few month, and we can confirm that Ethereum users are pretty tired about those skyrocketing fees… We’re sure that ICON has a lot of opportunity in the NFT field thanks to its technology.

The pre-sale will work on a SCORE that would allocate a bottle randomly, the price would be the same for all the bottles. Also, the buyers would be able to see at any time what are the remaining levels of rarities in the contract.

The platform

Winible will be a web platform that will allow users to check any infos about the cuvée 0, to visualize all their Winible NFT and of course, to redeem their tokens!

The burning mechanism will allow anyone to redeem his NFT and to get his bottles delivered at home. For the NFT experts, this system is quite similar to Unisocks collectible. Our platform will allow the users to track their bottles and get support if necessary.

Long-term goals

As specified earlier, this project is meant to serve as Proof of Concept for our long-term plan. The cuvée 0 will serve as an example for wine domains that the NFT market is full of opportunities for the product of wine that is perfectly fitting its purpose: a redeemable product with a fluctuating value.

We’re convinced that the NFT market will sooner or later disrupt the wine market and we want to bring it to life on ICON. After this first mission, Winible will focus on helping wine domains to sell their product on a decentralized marketplace such as Craft and this cuvée 0 will serve as an example to prove the interest that people have in this concept.

Conclusion:

We’re looking for feedback and to know how the community is feeling about the project! We’re still settling a few details before getting the CPS proposal started (final cuvée that we’ll use, amount of bottles for this cuvée, milestones).

Staky offered to sponsor our CPS but we’d love to know if any other PReps is interested in assisting us in our goal! Please let us know below

So, what do you think about it? Do you think that this NFT project could be a good fit for ICON ecosystem? :wink:

  1. Project Duration: TBA
  2. Project Milestones: TBA
  3. Funding Amount Requested: TBA

I’m a Sommelier, let me know if you need anything.

5 Likes

Oh great! It’s very interesting! We are going to create a telegram group.

2 Likes

How fantastic, the idea is so neat! My background before crypto was in hospitality management. I’m more of a whisky and ginger beer man myself, but I’d love to help throw ideas around.

3 Likes

Sweet and neat! With a twist we can make it work.

2 Likes

I am glad you like the project, don’t hesitate to share with us your thoughts !

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Here is our Twitter account, we’ll publish fréquent updates on Winible here!

1 Like

I there a fixed time determined how long a bottle can remain in your custody and therefore tradeable on chain? I imagine bottles cannot remain storage free for a undefined time? I know this might only become an issue long term, but it’s a question more people will ask.

4 Likes

Idea with huge potential from what I understand you guys are actually making the wine market extremely liquid hence a more speculative approach for experts is possible.
Of course there will be a lot of limitations but just wanted to know if using blockchain for the tracking and supply chain aspect of the product is something that will be implemented too.

2 Likes

Thank you very much for this very pertinent remark. Here is what we have imagined so far (this statement stands as a temporary response): wine improves with age but there are also indications concerning the expiration dates. Moreover, as you can imagine, it is impossible for Winible to commit to a too long period. Therefore, we have devised a system with an expiry date. If you have not claimed your bottle by the predefined date, the date by which Winible agrees to hold the bottles, you will be given a period of time during which you must choose between providing an address to receive your bottle or receiving a refund at the original price of the bottle.
The transition from phase 1 (Cuvée zéros Winible) to phase 2 (direct integration of the wine estates in the process) will require a lot of work, especially concerning this issue. What I can tell you today is that this issue will be related to the expiry date of the products at the time of the final product, at best directly on chain.

1 Like

Using Blockchain for supply chain and tracing of bottles is indeed a great usecase! Yes we thought about this, we believe that these features belong to phase 2 of the project.

Having such tracability would be relevant only if it’s tracked from the very beginning of the production. We didn’t plan to add those tracability features on the cuvée 0 but that would definitely be a great feature for wine domains that will cover the whole process from production to tokenization.

2 Likes

Seeing this made finally me to create the account here just to be able to vote for this. Absolutely awesome. Holding wines and selling the collection many years after has never been easier. Or drinking, depending how strong your hands and mind are.

Especially as ICON is going to bring ramp for FIAT-ICX… Yeah, this is awesome. This is the future.

1 Like

Thanks for your support! We are working hard to make it real!

2 Likes

Love it. We are on board.

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Hey guys - this is Scott from ICX Station. This is a really interesting proposal and would be great to learn more. Contact me on telegram at @Benny_Options so we can chat in more detail

1 Like