CruTrade Launches $60M Tokenized Fine Wine Marketplace on Avalanche
CruTrade Launches on Avalanche Blockchain with $60M in Tokenized Fine Wine
- CruTrade, a marketplace on the Avalanche blockchain, has launched with over $60 million worth of tokenized fine wine.
- The platform includes 200,000 bottles from 250 producers, mainly verified in Burgundy, allowing instant digital ownership trades while bottles remain stored safely.
- Addresses issues in the $9 billion secondary wine market by reducing fees, speeding up trades, and avoiding spoilage through professional storage.
- Uses RFID verification and on-chain recording for transparent provenance of each bottle.
- Partnership with Crurated provides immediate scale, overcoming early liquidity challenges.
- Avalanche's speed and low fees make trading fine wine as easy as digital assets.
- Plans to expand services to global bonded warehouses and restaurants, offering rare wines via digital menus.