dVIN Labs launches the dVIN protocol from stealth to unify the $1T wine asset class through data, DePIN and tokenization.
Coinciding with dVIN’s launch is the start of the Cellar Challenge Where Users Earn Points for Tokenizing Their Own Wine Collection & Sharing Wine with Friends
NEW YORK, July 24, 2024 /PRNewswire/ — dVIN Labs, the development team behind the dVIN protocol, today announced the launch of the dVIN Protocol (“dVIN” or the Protocol) from stealth. The dVIN protocol is built on Solana and is designed to leverage a combination of data, DePIN and tokenization to bring wine, a $1T real world asset class, on-chain.
David Garrett, Co-Founder & CEO of dVIN Labs, commented on the news, “We’re thrilled to announce the launch of dVIN Labs’s first protocol, dVIN, from stealth. By transforming each bottle into a unique digital asset, the tokenization of luxury wine enhances the social and economic dimensions of wine collecting and investing.”
The launch of dVIN is marked by the introduction of the Cellar Challenge, an initiative that enables participants to earn points by tokenizing bottles from their home cellar, and then opening those bottles and sharing each bottle with up to 12 friends to earn Tasting Tokens. Exclusive to dVIN, Tasting Token™ NFTs (“Tasting Tokens”) are functional NFTs connected to a Digital Cork™ NFT (“Digital Cork”). When a bottle is tokenized, it’s linked to a Digital Cork NFT on the blockchain. Tasting Tokens are minted when these bottles are opened and the Digital Cork is destroyed.
Collecting Tasting Tokens grants access to exclusive experiences and special rewards from winemakers. Over time, these NFTs serve as an immersive virtual tasting journal, allowing winemakers to engage directly with consumers at the moment of enjoyment and offer tailored incentives. The Cellar Challenge will not only generate valuable data but also facilitate the rapid acquisition of new users. Additionally by unlocking “Beast Mode,” luxury wine enthusiasts can rack up additional points in the challenge by competing to conquer one of the five leaderboards.
Club dVIN (or “the Club”), is the world’s premier global wine club providing members access to unparalleled wine experiences and exclusive benefits. The Club’s ~1,000 early adopters along with several of dVIN’s partner communities – including RealVision, CryptoMondays, Friends with Benefits, Madlads among others – will have the ability to join the Cellar Challenge early. For instance, RealVision ProCrypto members will receive special access and points, with every member getting at least 12,000 points if they join the challenge, and can earn up to 48,000 points if they complete all the quests!
Points accumulated in the Cellar Challenge will translate to a $VIN airdrop at the time of the token launch in Q3 2024 and others to be announced. For more information on the mechanics of the $VIN Token, see the $VIN Whitepaper.
Garrett concluded, “The Cellar Challenge will help wine enthusiasts engage with their collections and share their experiences, serving as both a sandbox and proof of concept, to showcase the capabilities of dVIN.”
dVIN Labs also recently partnered with SegMint GmbH (“SegMint”), a digital assets management platform, to fractionalize 12 bottles (0.75L) of Weingut Egon Müller 2022 Riesling Scharzhofberger Auslese, making them for sale via the platform here. Egon Müller is the only German producer to belong to the world’s most exclusive alliance of the 12 best family-owned wineries, Primum Familiae Vini, and its wines are some of the most coveted and collectible in the world, but also among the most costly ounce for ounce.
Which makes these bottles ideal first candidates for the first set of luxury wines offered as a more reasonable fractionalized investment via the SegMint platform. This is the first of many luxury wine listings that dVIN Labs plans to organize with luxury wine listings planned for RWA marketplaces like Jupiter’s Giant Unified Marketplace (“GUM”) and others to be announced.
About dVIN Labs:dVIN Labs is the development team behind the dVIN protocol which is designed to leverage a combination of data, DePIN and tokenization to bring wine, a $1T real world asset class, on-chain. The dVIN Protocol leverages blockchain technology to both allow wine enthusiasts to monetize their data and be rewarded for their wine activity, purchases, and loyalty. While winemakers simultaneously incentivize these wine lovers to share consumption data and personal data in order to drive deeper consumer relationships, making their businesses more responsive, efficient and profitable. To learn more about dVIN Labs and the dVIN Protocol, please visit: https://dvinlabs.com
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