One of the world’s first asset-backed NFT marketplaces today announced that they’re bringing the world’s finest wines onto the blockchain.
Bordeaux Index, a large global merchant with offices in London, Hong Kong, Singapore and Los Angeles, will act as a provider to Tangible, allowing the NFT exchange to acquire pristine wine from the company and sell non-fungible tokens backed by the liquid assets.
“We’re leveraging LiveTrade, the trading platform of the UK’s leading specialist fine wine merchant to provide immediate access to NFT collectors across the globe,” said Jag Singh, CEO of Tangible.
Unlike traditional NFTs, Tangible converts real world assets into tangible NFTs (TNFTs) that can be redeemed for the physical product at any time. These assets include gold bars, collectible watches, rare sneaker drops, and fine wines.
LiveTrade CEO Matthew O’Connell commented, “LiveTrade is the primary liquidity platform for fine wine, and so we welcome new market entrants like Tangible who are approaching the space from an innovative perspective.”
Tangible launched in January 2022, and will release their full marketplace in March 2022.