WyNFT is a novel NFT platform built on the Cardano public ledger. In contemporary times, fine wine and spirits have been elevated from commodities to luxury collectables. This evolution created opportunities for fraudsters to take advantage of the value of these products by producing fakes sold in rising markets around the world. WyNFT combines the security of cryptography with the fine wine and spirits which eliminates the endemic fraud plaguing the industry while also cultivating gamification and collectible opportunities for consumers.

NFTs

Non-Fungible Tokens are cryptographic assets that guarantee uniqueness. Issued on a public blockchain, NFT’s will never be able to be reproduced, even by its creator. The element of non-fungibility makes NFTs a perfect tool to guarantee authenticity of products. A non-fungible token is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent intellectual property and real-world items.

Authenticity in Wine and Spirits

Premium wine and spirits have always been the target of forgery. Many premium brands are hesitant to enter certain markets out of fear that their products will be forged, and their prices undercut. NFT embedded on the bottle of such products is the most secure way to guarantee authenticity and origin. NFTs can also prove claims of certain credentials such as “Organic,” “Sustainable”, and/or “Vegan.”

Customer Gamification

WYNFT has the potential for gamification of the customer’s experience with their consumption of wine and spirits and in doing so create unique marketing opportunities for producers. Like baseball cards, NFT’s can carry information about the wine or spirit it is paired with within the metadata of the asset. Through a specialized online viewer, customers can view documentation and even images of the product they bought even after the product was consumed. By building on the collection culture that already surrounds many of these products, producers have the opportunity to build digital communities and execute marketing schemes not available before.

Stakepool

The WYNFT Cardano Stakepool will be the backbone of the WYNFT platform. Our stake pool will eventually run parallel chains guaranteed by Cardano public consensus (unlocked in Cardano’s Basho era). In the immediate term, supporters can stake their ADA with our pool. This will generate revenue for the development team and issue block rewards to the delegators. Long term delegators with significant stake will also be eligible for unique WYNFT gifts.

Copyright WyNFT 2022, All rights reserved.