Blockchain-based investment platform WiV Technology has announced the launch of a $10 million DeFi fund in January. The platform stated that the fund will be governed by the network’s WIVA utility token as it presents a real-world use case of blockchain technology.
WiV Technology is one of the first blockchain-based frameworks for wine merchants, consumers, and producers. The firm is now trying to merge the best features of blockchain technology with the traditional wine industry. The company says it’s taking the wine industry to a new dimension where Decentralized Finance (DeFi) and non-fungible tokens (NFTs) would be deployed in the wine industry.
The Industry’s First DeFi fund project
Already, WiV’s governance and utility token WIVA is gradually changing the face of the wine industry. The token has enabled users to buy, sell, or borrow funds while using wine as collateral.
WiV’s technology provides vital features such as additional market assurances, geolocation functionality, trading liquidity, and record-keeping. This ensures the actual ownership of the wine.
However, the company is not stopping there, as it wants to advance its features. It has dubbed it the “industry’s first DeFi fund based on real-world assets.”
The WiVX will be featuring a transparent and fool-proof method of assessing the fund’s asset value as it will offer investors access to the high returns of fine spirits and are wines.
The Project Is Available To A Wider Audience
Co-founder of WiV Technology, Håkon Harberg, said the motivation behind the project is the identification of exceptional wines before they are recognized in the market. He added that the company’s proprietary insights and data analysis approach will enable the fund to maximize returns.
The WiVX fund will combine the decentralization and efficiency of crypto with the high performance and stability of wine in the market.
He added that the development of the project as a DeFi fund using physical assets makes it more attractive to the traditional wine community. It means participation in the project can be transparent, efficient, and relatively low-cost.
As a result, it will help in the company’s goal of creating value to its ecosystem, ensuring that the type of investment is “open to a far wider audience,” Harberg reiterated.