The post Lightspeed Newsletter: Wine tokenization on Solana appeared on BitcoinEthereumNews.com.

Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter. Howdy! I’d like to be more of a wine snob, but I’m useless at figuring out what the notes in a glass of wine are or whatever. I was once told that every red wine tastes like cherry, though, so I just fall back on that one if I need to pretend to know what I’m doing. Anyways, wine, but on the blockchain: DVIN wants to keep track of wine It was a brutally hot afternoon as I sat in a midtown Manhattan office building with David Garrett and Jana Kreilein, the co-founders of wine tokenization platform dVIN. An unopened bottle of Spanish red wine sat between us on the table as Garrett embarked on a lengthy explanation of how data is tracked differently between wine and spirits sellers. “I’ve been sort of obsessed with data,” Garrett confessed. In the more-consolidated spirits industry, companies have access to pretty extensive business intelligence on liquor purchasing behavior, Garrett explained. Not so in wine, where a lot of diffuse “tiny players” come together to produce, import, and sell the product — with only a rough idea of where and when the wine is being consumed.  “A lot of [wine producers] are still keeping inventory on clipboards or Google Sheets,” Garrett said. “What that means is that while your Seagram’s guy knows the depletion report for the CVS on the corner, the winemaker, as soon as the wine leaves the winery, it’s gone, they have no idea.” This is partly the problem Garrett and Kreilein are aiming to solve with dVIN, which uses Solana-based NFTs and tokens to incentivize consumers to share data with wine producers. DVIN launches from stealth for members of the…

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Filed under: News - @ July 24, 2024 7:24 pm