It was in the year 2021 when the term NFT It began to become popular among users of social networks. Since then, this technology has gone through ups and downs to reach the current fall NFTs. However, there are wine apps that take advantage of these technologies in one way or another. Find out!
What is an NFT?
The term may be unfamiliar to many people who are not up to date with the latest changes and innovations technological of the world. This technology generated more than 3500 billion euros in its most prolific year (the first) and since then we have begun to see a descent on your demand. Y what does it mean NFT? Well, those are the acronyms for Non-Fungible Token. But... what is a non-fungible asset? And what is a token? We explain it to you.
El Spanish Civil Code defines what is a "non-expendable asset" in articles 763 and 337:
- Article 763 of the Spanish Civil Code: “Movable assets are fungible or non-fungible. Those that can be replaced by others of the same kind, quality and quantity belong to the first class. The non-expendable are those that cannot be replaced by others of the same species, quality and quantity”.
- Article 337 of the Spanish Civil Code: "Movable property is fungible or non-fungible. To the first species belong those of which proper use cannot be made according to their nature without being consumed; to the second species correspond the others”.
With this we can get an idea of what the non-expendable property. The tokens, For their part, they are symbolic tokens that, to give you an idea, act the same as the tokens of the casino. They give them to you with a representative number that has no value outside the casino, but inside it is equivalent to that same amount of money. With this we can get an idea of what the NFTs.
The NFT crash and the wine sector
One of the most popular uses of this new technology stands in the world artistic. Their non-expendable characteristic makes them a useful tool in this sector if used correctly to facilitate the exclusiveness of various products. Wine is, for many people, a art. The preparation, harvesting and bottling of grape juice fermented could benefit from this new technology under the right circumstances.
It is not strange that some wineries accompany with a N.T.F. collectible the sale of their wines, represented in a concrete bottle of the limited and numbered edition. Shortly after the start of 2021, the winery Yao Family Wines became the first in the world to launch a NFT of a wine It is a collectible of more than 200 tokens of his wine The Chops available for purchase on platforms like OpenSea starting at $1000 each.
The phenomenon has not remained exclusively in North America, but is also being seen within the Spanish market. Viazalez Wineries plans to do the same Spain with the conversion to token of its Viazález, HeGo and Denuedo wines. These bottles will be converted into the first NFT of Spanish wine, marking a before and after in the wine tourism Of the peninsula.
The NFT drop in the future
Invest in a wine with NFT may be attractive as collectors might be more open to adopting this concept digitized if the unity between the virtual and the tangible is maintained. However, it is a highly speculative and that in the last year it has lost much of its value. This technology has not just found a place in the Internet current, being a problem that perhaps will be solved within several years.
As of the date of this article, the product may become an ally for collectors, but there are still years to go regulation y standardization so that ordinary people can approach this concept without risk.
What do you think? Did you know this NFT wine market?
