BlockCellar?

WINE TALK
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I was searching for a wine and wine-searcher directed my to BlockCellar. Does anyone have any experience with this platform?

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I was similarly directed recently. Then I read this:

BlockCellar is a blockchain-enabled platform built to simplify the way collectors buy, sell, store, trade, and transfer investment-grade wine and spirits. Regardless of the size of their collection, we offer every collector exceptional access to some of the most sought-after labels in the world, state-of-the-art storage, and a secondary marketplace.

By leveraging physical-backed token technology, we preserve the provenance of every bottle, simplify transactions, improve transparency, and eliminate traditional barriers to entry. Tokenized real-world assets are stored in bond until redemption to mitigate the risk of counterfeits, adulteration, theft, breakage, cork taint, and other potential damage.

And immediately lost interest.

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If you’re wondering what a “physically-backed token” is:

BlockCellar physical-backed tokens are a subcategory of non-fungible tokens (“NFTs”) that represent a contingent claim on a physical item. Non-fungible means something is unique and cannot be replaced with something else (e.g., an original Picasso). Tokens are digital assets with value and can be transferred, traded, bought, sold, and stored in wallets. So, a physical-backed token is a contingent claim on something unique that cannot be replaced with something else, it has value, and can be transferred, traded, bought, sold, and stored in wallets.

Have never dealt with BlockCellar personally but apparently you can receive the physical bottle of wine, but it is a bit of a nightmare to deal with and can take a very long time to organize shipping. (So I have heard)

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Pretty sure anyone who does this ain’t getting their wine. Hope you like monkey jpgs.

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The answer to what if Underground Cellar met John Fox but with NFTs?

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Yeah, I’d steer clear personally :laughing:

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The current year is 2024 and people are still buying the con that NFTs can be useful for reliably and securely tracking ownership of physical goods?

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So, basically Underground Cellar 2.0.

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Cork taint?

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love the replies. I was very hesitant and now will not purchase

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Thanks.

It will be quite easy to remember “Block this Cellar”.

How far lost into the bubble of block-chain bros do you have to be to think that was a cool name for this…whatever this is?

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I’m just gonna stick with K&L.

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you can just right-click and save your DRC.

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i just read the info and faqs.

this is beyond comical.

this is buying in-bond with a million extra steps that make it more difficult and expensive. the fact they chose ethereum as their chain is just icing on this very crazy cake.

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I saw that. Can someone explain exactly what that even means?

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Once I read about their platform, I was not interested in doing any business with them. If any does please provide your experience.

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(post deleted by author)

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Fear not, dear customer. You can request proof of life!
From their FAQ:

“How do I know there’s really a physical item linked to my BlockCellar physical-backed token?

Requesting an audit of your BlockCellar physical-backed token is easy. Connect your wallet, select the PBT you wish to audit, and click the Request Auditbutton. Each BlockCellar PBT is eligible for one free audit every 36 months. The audit will include an attestation from the BlockCellar-designated storage facility, a condition report, and a photograph of the physical item.”

(No mention of whether the photo will include the current edition of the local paper.)

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(post deleted by author)

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