Winemakers see future in NFTs after results of latest auction

TL;DR Breakdown

• California wine organization talks up its NFT wine auction
• The Winemakers believe that the NFT market has potential

Winemakers want to enter the market for NFTs after seeing their true potential. Recently the actor Brad Pitt, famous for participating in the film “Mr & Mrs. Smith,” joined the nft trade in virtual wine auctions.

After the actor hit the NFTs market, some winemakers were motivated to publish their pieces. The trend for wines as NFTs continues to grow as the market peaks in popularity.

Winemakers take advantage of the growing NFT trade

Although the win industry is changing slowly, this does not mean that some Winemakers such as Robert Modavi or Penfolds will join the NFTs market in 2021. But some small wine firms have also spoken out about the trend and announced that in 2022 will launch their virtual pieces. The winning trend is so high that there is an NFT club.

According to reports, the global organization dVin, a club for Winemakers, will open its doors in May under a base proposal of some 4,000 NFT subscriptions. The subscription will have a value of 1.5 to 3 Ethereum tokens.

This dedicated club will have the power to post all future Vino-based NFTs auctions so fans can purchase the virtual pieces. Wine collections would also be published on NFT platforms such as OpenSea or other web providers.

Jourdan Guillaume, who is an advertising consultant at the French advisory platform VitaBella, said the NFT market has the power to increase sales of refined wines and could even attract young people. However, the director of the global wine trade in the US, Stevens Robbie, believes that it takes a long time for the wine market to emerge as an NFT. Stevens clarifies that the wine industry is divided, so he sees his incursion on NFTs as unpromising.

Wines like NFTs could create a successful market

Lorenzo Trefethen, who would be one member of the “Trefethen Family Vineyard” organization in California, believes that the Winemakers have adapted to the NFT market since December. In Trefethe’s opinion, wines like NFTs could create a successful market, but it takes time.

NFTs wines fans have a great advantage because they can buy the part linked to an actual bottle and keep it for long. The organization that hosts the Winemakers said that for the last month of the year, nine deals were closed in NFTs with a value of about $700, which increased the group’s capital.

While the NFTs auction was a success, Trefethen believes that NFTs trading needs to mature to be appropriately used. Meanwhile, NFTs market fans will continue to purchase the latest wine pieces to resell them when their market grows.