We held a live AMA with CEO of WiV Technology, Tommy Nordam Jensen on 23rd June 09:00 PM (UTC+8). Here’s the recap for those who missed it.
Jack | ShinChan: Before the ama start, can you introduce yourself and the team background?
Tommy: My name is Tommy Jensen and I am the CEO and co-founder of WiV/WIVA. My background is as a tech entrepreneur and The team of WiV have been in the tech, wine investment and fine wine trades for decades, and wanted to not only modernize the industry, but to create new opportunities using the same innovative technologies that are transforming other traditional investment industries.
Jack | ShinChan: Do you have any news/update about WiV Technology would like to share with us?
Tommy: The team of WiV have been in the tech, wine investment and fine wine trades for decades, and wanted to not only modernize the industry, but to create new opportunities using the same innovative technologies that are transforming other traditional investment industries.
We are soon the launch several intiatives in Metaverse and also have some interesting news very soon that involves big things in DeFi and Wine
AMA Twitter Section Begin:
Q1: Can you detail what will be the use cases of $WIVA Token within the WiV Technology ecosystem? How important will it be? If you would be so kind also explain to us how the supply distribution has been designed.
Tommy: The $WIVA token will have many different use cases in the WiV ecosystem. Members of the community can accumulate $WIVA through various activities such as being an operator, creating concepts or content for the ecosystem, trading WiV NFT’s, bringing on partners, staking and yield farming for lending and liquidity pools. Using the $WIVA is easy within the ecosystem, as it can be used to purchase WiV NFT tokens, use as a currency to purchase or invest within WiV, purchase fine wine, invest in alt-investment pools, paying peer-to-peer transactions, or for collateral loans. As there will also be third-party integration on the platform, $WIVA will also be used for many types of transactions. 🔥🍷
Q2: As I know $WIVA will be the foundation for the Wiv Ecosystem. Can you give us more details about the role of your token into the project? Can $WIVA holders participate in the governance of
Tommy: Our plan is to launch our Governance token by early July 2021. This token represents access to our community and a voice in how our community grows. There will be staking benefits associated with the tokens such as cash back promotions on wines, access to other financial products like our wine fund tokens, access to limited and exclusive wine drops from elite producers, and much more. We also offer a yield for staking WiVA tokens and participating in governance of the ecosystem. You will be able to buy WiVA directly from our IDO or through a DEX like uniswap.
Q3: The 3 NFT projects in WiV Finance are wine, whisky and (Coming soon) agriculture. Why did you choose 2 drinks, and then jumped into a different field, asi agriculture? What do they have in common that make them the ideal assets of WiV Finance?
Tommy: At WiV we view wine and whisky as stable and competitive asset classes that can outperform almost all assets with a similar risk profile. Agriculture finds its place in that wine is a farmed asset with basic inputs that are necessary for winemakers to produce their wines. By creating products around the agricultural process winemakers can hedge against price fluctuations of those inputs or can raise money when necessary at any stage in the winemaking process.
Q4: Reading a bit about you I found that WiV Technology is currently working together with The Sandbox, a popular gaming platform. How exactly are the two projects collaborating together? What aspects of your business do you hope to improve as a result of this?
Tommy: The Sandbox Game is a huge project for us, and one we have a lot of energy and love invested in. We are building a future world for education, gamification and monetization of the wine industry. We feel that community relationship building is the biggest gain from this activity, for us and the players. We are developing many ways for players to earn rewards, collectibles and rare items that will only exist in The Sandbox. Players will eventually be able to create their own games within our worlds to expand their capabilities and communities. 🔥🍷🕹
Q5: I have read that online sales of fine wines represent less than 5% of the market, so what strategies and actions are you doing right now to increase these sales in the future, i.e. how will you get both vineyards and retailers to participate?
Tommy: Our immediate strategy is to omit retailers in the short term and directly focus on wine producers and consumers/investors. In this sense we are a D2C company, however occasionally we also issue NFTs on wine that are either sold by a reputable retailer or individual collectors.
Through directly collaborating with producers we ensure authenticity and provenance from the start of the supply chain. We also educate wineries on the usage of blockchain technology and have created a simple onboarding tool for them to be able to effortlessly participate in our network.
Telegram Live AMA Begin:
Q6: What makes you feel confident about the survival & sustainable success of Your project in the near future? While you build your project, do you take into account community feedbacks and demands???
Rich: We have incredible investor backing, a very strong advisor board and wine has been a stable investment class for millenia. We listen to all community feedback and truly believe that the audience, customers, community, etc… make us the brand we are today.
Q7: Almost 80% investors, have just focused on price of the token, in the short term instead of understanding, the real value of the project. Can you tell us on motivations, and the benefits for investors, to hold your token in long term???
Thomas: Our token is first and foremost an ecosystem/governance token, so by investing in this you will help build the community of wine on the blockchain. Our goal is to build an industry pegged token that can be staked to participate in the ecosystem and receive rewards depending on how many tokens you stake (i.e. a tiered system). Our emphasis initially is not so much about the token price, as our goal is create an environment that incentivizes people to hold our tokens and purchase our wine NFTs through cash back offerings, access to wine funds, access to exclusive winemakers, events, ect.
Q8: Heyy…. Please tell me some points which can assure me to trust your project.
Rich: By ensuring that we have ultimate transparency, solid supply chain management systems, certified 3rd party storages and constantly have an open door policy with the community.
Q9: I read in your medium that your aim is to launch wines from different regions around the world, curate wines, and talk to experts to help vineyards grow their presence and overcome the challenges of a pandemic.
then how do you do the distribution during the Covid19 pandemic?
Hans: We are already dropping wines from new regions, specifically we Are dropping two wines from a new region every month such as U.S, Slovakia, China, Spain, France, Italy, New Zealand and Many more in the pipeline. Since we focus on investment grade wine and since we are a relatively young company we do not have a lot of logistics at the moment. However, we are planning to have warehouses many places to have a global footprint and not be as dependent on global shipping.
Q10: Could you tell us more about your team and some of their background? and what is the reason you recruited him to be your team????
Svamarga: The team consist of people from web3 devs, finance, marketing, fine wine trade, wine makers, lawyers, academica and defi. We all are passionate about wanted to make a difference within the wine ecosystem. he current financial process for vineyard owners is incredibly disadvantageous. Money is borrowed each season for vineyard development, growing and cultivation, harvesting, and wine making. The first revenue doesn’t begin to occur until months or even years after the wine has been produced. This can be very hard on vineyards, involves massive amounts of paperwork, approvals, and uncertainty — and has to be done every season.
Q11: Will the WIV Technology platform include other world agricultural heritage products such as wine, which requires effort and patience, in the NFT market in the future? (eg olive oil)
Hans: We are focusing on wine for now, our asset plattform could work equally well for other physical products. Thanks for the question 🤌
Q12: Does your project support staking program?if yes. how is your stake system work, what is the requirement for user if they want to stake in your platform?
Thomas: Please check out wiva.xyz
Our plan is to launch our Governance token in a few weeks. This token represents access to our community and a voice in how our community grows. There will be staking benefits associated with the tokens such as cash back promotions on wines, access to other financial products like our wine fund tokens, access to limited and exclusive wine drops from elite producers, and much more. We also offer a yield for staking WiVA tokens and participating in governance of the ecosystem.
Q13: Your tagline is “ The future of finance UNIQUE ASSETS “ . what do you mean by Unique Assets? why Wine & whiskey including unique Assets?
Svamarga: unique assets or passion assets as its also called is referring to investment asset class recognizes as unique — every bottle of wine is unique even though its from same year etc. as with whisky or collectible cars.
Q14: Education is also one of the responsibilities shared by public blockchain networks as there are many individuals entering the market with varying degrees of blockchain knowledge. What have you done in educating the public about blockchain technology?
Thomas: We are on the brink of launching our own education platform containing short videos where we will educate our community on topics around wine, investing in wine, NFTs and blockchain topics.
Q15: “STAKING” is one of the STRATEGIES to ATTRACT USERS and HOLD Them long term.
Does your GREAT PROJECT have plan about Staking?
Svamarga: Yes, we have staking ready and set aside in our tokenomics after TGE
Q16: Security is the most important thing for investors. What security features do you have to reassure users about the safety of their Funds? And have you audited your smart contract?
Thomas: We have a strong emphasis on security. The smart contract auditor is Solidified and will be published soon.
Q17: 📍 There are too many scammers who are constantly monitoring the crypto space and looking for suitable opportunities. So how can we be sure of the credibility of the producers who market their wines on the WIV platform, How will you audit these producers?
📍 What advantages was the WIV platform created to provide to the owners of the vineyards? What activities will you facilitate that were not possible or very difficult before WiV?
Rich: All wines we onboard are carefully selected and has to pass a set of standards to be eligible. We like to call WIV the future standard for wine provenance.
We provide vineyards with an easy recipe to go D2C as well as DeFi products.
Q18: Can you list 1–3 killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Hans: Our strategic relationships since we have been working with NFTs since cryptokitties came out, we have developed together with what is now the dominant players. Our team, multidisciplinary with an awesome culture and love for wine 🍷 last, Technology; our platform is the true enabler and allow producers to reach consumers easily and any investor to be exposed towards wine as an asset class
Q19: ✅ WiV Technology is extrapolable for tokenization and trading of other assets besides wine and whiskey? There are many fans of: watches, sports memorabilia, automobiles, etc. Do you have the technology and infrastructure to work with them as well?
Rich: Wine currently outperforms other luxury assets such as coins, diamonds, watches, and stamps. At the moment our focus is on Wine and eventually Spirits. But our technology is capable of much more.
Q20: I Can anybody uses your marketplace and platform from anywhere in the world? Can anyone participate In the development of this project?????
Svamarga: Yes, please DM us
Tommy: Yes!! And if you are interested please DM us.
Q21: Do, you have any Coin Burn / BuyBack systems, or any $Token Burn plans to increase, the value of Token & attract Investors to invest???,”
Tommy: No, we are launching an industry pegged token that will only enhance its importance and value over time. Several industry leaders are joining our ecosystem
Q22: How to participate in the Wiv technology whitelist, is there a way or requirement to participate in the whitelist?
Hans: You can join our whitelist through wiva.xyz through leaving your email
Q23: #Currently most investors only care about profits at the moment but ignore the [ long-term ]benefits. So can you give them some advice why they should buy and hold this token/coin in the long term??
Rich: We have a long term strategy and will take our time to build this ecosystem step by step. By focusing on the community around wine and providing incentives to all our participants we see the future of wine as decentralized and community driven.
We will also be creating and offering inventive wine products (i.e. wine ETF) exclusively to our ecosystem as long term hedging investments against the volatility of the crypto market. We believe that wine is the perfect asset for crypto, offering high returns and stability.
Q24: You have mentioned that “we have focused on the Ethereum protocol and Polkadot with their Substrate chain and in April we integrated with Polygon L2” Do you have any plans on implementin on another blockchain also? Specially on BSC?
Svamarga: Yes, in our roadmap we have mentioned this and we are currently in dev to integrate with bsc and their nft marketplace
Q25: 🌼 Could you please clarify something for me? When I purchase the NFT of a wine from OpenSea for example, do I acquire full ownership of the wine? I can ask you guys to ship it to my location if I wish?
Hans: Yes that is possible. You own the wine through the NFT. When its ready to drink provided you have not sold the NFT on, we send you the wine.
Q26: Do you have a Token, Burning plan to increase Token value and attract Investors, to invest???
Svamarga: No, we are launching an industry pegged token that will only enhance its importance and value over time. Several industry leaders are joining our ecosystem
Q27: where can I buy the token? Is this already listed/available on exchange (CEX or DEX)?
Thomas: The WiVA coin is not listed yet as we have yet to launch the token. It will be launched this July.
Q28: I wanted to follow your project for the long term. Where i can get all the latest news about your project? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?
Rich: We are visible across all social media channels. You can also visit wiv.io and wiva.xyz
Q29: How do you plan to support vineyards in the longer term?
Thomas: We will be supporting vineyards by helping them develop an online digital presence and offering financing that they have never had access to before. This will help them adapt toward the modern economy while receiving much more steady revenue streams than they are used to.
Q30: What communication channels can conscious and curious investors / users use to access more up-to-date information about your project?
Hans: Out discord wiv.io. We just launched today alternatively you can DM me ✌️
Q31: WIVA token supply is 200 million and you are going to sell only 104 miliion, What are you going to do with the rest amount? Do you have any plans on burning some amount in futer to increase the demand?
Rich: Please visit wiva.xyz to learn more about the project and download the relevant information. It will outline the questions you have and more. :)
Q32: Kindly tell us In detail about the tokenomics. How many tokens will be minted? And how many tokens will be locked or vested for?
Hans: Thank you. You can view a full breakdown of our tokenomics by visiting wiva.xyz
Q33: I see WIV has its own wallet. What is the main function of WIV Wallet? how do i access it, do i have to do verification like KYC or something?
Thomas: The WiV wallet is still in development but the purpose of the wallet is to have a clean UI for storing the beautiful WiV wine NFTs… think a Digital Wine Cellar. There will be a level of KYC in order to access the wallet.
Q34: 🟢 Could you explain a little more how the process of transporting and storing an asset is done? Does it have to be shipped to some address or do you pick it up personally? Which countries will this service be available for initially?
Hans: Right now everything we issue is with reputable producers, so either we store it there or in any of our third party warehouses. Safe and secure. In principle we can deliver this almost everywhere however we focus on investment grade wine made for storage. We expect the first seamless deliveries to be completed q4 2021.
🚀”Our goal this year is to launch wines from regions all over the world” What procedures would you employ in order to achieve this objective? Do you allow retailers and wholesalers to help you expand your product line?
🚀The Most Important Aspects that Users See on a Platform is Security. What steps has Your Project taken to address this? Is WiV technology Platform ideal for cryptocurrency newcomers
Tommy: We help the wine producers with a managed solutions intially and when our platform is ready they can use it for themselves.
Our Wealth tech platform is ideal for crypto newcomers as it is fully funcional outside cryptoworld.
Q36: I wanted to follow your project for the long term. Where i can get all the latest news about your project? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?
Hans: We have a discord server at wiv.io
The server is very new But we will update this with more content and many community activities in the near future
Q37: WIV technology is a very good idea, with an awesome future, but I just realized that you use the ERC-721, so you are target of the high trasaction fees of Ethereum, so can you tell us which other alternatives do you offer to use your ecosystem apart of Ethereum?
Tommy: We are using Polygon Matic chain which have much lower transaction costs
Q38: 🔵Apart of be related to wine, I realized that you are also capable to work with whysky, in the future will you be able to offer more licors like Brandy, beer or champagne?
Hans: Absolutely, we focus on wine but other similar assets follow the same requierments in terms of operations and tech. We want to encompass all these assets but wine is the first market we are disrupting
Q39: Kindly tell us In detail about the tokenomics. How many tokens will be minted? And how many tokens will be locked or vested for?
Rich: A hard cap of 200 million tokens will be created. A $WIVA investment cannot, therefore, be diluted or suffer inflationary effects.
Token holders will yield farming rewards and receive trade discounts when using $WIVA to trade wine or other digital WiV assets.
We are building strong partnerships across verticals in preparation for broader acceptance of $WIVA as a new global wine currency.
There will be a reward program based on buying WiV NFT’s and holding $WIVA. By holding a certain number of $WIVA, you unlock several rewards. The more $WIVA you hold, the better the rewards.
Examples of $WIVA rewards include:
Discounts on selected new releases
Early access to selected new releases
Invitations to exclusive events
Access to unique collectibles not available to everyone else
Invitations to exclusive virtual events with creators, winemakers, etc.
Special events to win unique collectibles
VIP invitations to wine tasting tours
Monthly drops of FREE exciting WIV NFTs and $WIVA
You can also earn $WIVA by collecting WiV NFT’s via an activity mining solution.
We will also launch a set of exciting new features and will reward participants as the platform grows.
Q40: WiV will issue a native currency called $ WIVA. What will be the utility and functionality of $ WIVA within the WIV ecosystem? Will it be a deflationary token?
Thomas: The WiVA coin represents access to our community and a voice in how our community grows. There will be staking benefits associated with the tokens such as cash back promotions on wine NFTs, access to other financial products like our wrapped NFT wine fund tokens, access to limited and exclusive wine drops from elite producers, and much more. We also offer a monetary yield for staking WiVA tokens and participating in governance of the ecosystem. You will be able to buy WiVA directly from our IDO or through a DEX like uniswap.
Q41: but what is the most ambitious goal of your project? What is the main vision that your project wants to achieve in the market capitalization market? I would really appreciate it if you could share with us any upcoming updates?
Hans: We have a vision of changing the process of how wine is sold and purchased. You can follow us on discord at Wiv.Io or DM me and I Will make sure to contact you with more information
Q42: Does the WIV platform have a plan to build a local community specifically to reach regional producers?
Rich: Community is our backbone, we are reaching out to globally unrecognized wine specialists and developing long term relationships to help support them and our business.
Q43: Which one of these aspects is important for you?
1-Increasing Token Price & Value
2-Empowering Platform Development
3-Building Community Trust
4-Expanding Partnership Globally
In what order?
Thomas: It is hard to say what order each of these subjects are in as they are all very important to our ecosystem. I can say that our vision is to be a global community for people interested in wine and investors who are looking for stable but competitive assets. Our goal is to increase our community utility through offering access to exclusive wine experiences and create products for everyone who participates in it. It is important that we are transparent with everything we do and open to new ideas as we develop the platform further.
Q44: Where is the urgency of a community for the WiV project? How can they get involved with the project and succeed together?
Rich: We will offer programs for the collectors who would like to invest in the fine wine market but are unsure what wine to choose; WiV will provide the opportunity to invest in different portfolios, such as:
NFT wine indexes
NFT wine exchange-traded funds (ETFs)
Our grant mechanisms are designed to reward the community and holders for positive socio-economic behaviour.
Hans: All of them are very important and hard to rank. But we want to focus on our community and make as as possible interact with wine. Building community trust Will enable the others at least that is how we view it. Thanks for asking🍷
Q45: In order to sell a Wine on WiV, is it required that they be fully certified products and produced in a reputable company? Or really anyone can market any product without any kind of restriction?
Rich: We only utilize the best quality. We vet and analyse the growers and ensure they are 100% approved. We have very high standards for our clients.
Q46: Can you give us information about your team members? Are the anonymous or public?
What is your relationship with with Snadbox?
Rich: Our team are all visible and here in the chat at the moment, so feel free to say high.
We have a very strong relationship with The Sandbox and have a close relationship with an incredible builders guild and partners.
The Sandbox Game is a huge project for us, and one we have a lot of energy and love invested in. We are building a future world for education, gamification and monetization of the wine industry.
We feel that community relationship building is the biggest gain from this activity, for us and the players. We are developing many ways for players to earn rewards, collectibles and rare items that will only exist in The Sandbox. Players will eventually be able to create their own games within our worlds to expand their capabilities and communities.
Q47: In what ways do you generate revenue? How Can we sure that we will get benefits if we invest in this project and the revenue model is more efficient and beneficial for both investors and for the project itself?
Thomas: We generate revenue in the follow ways: through our NFT sales, exchange fees, through our derivative products like our wine fund (many more to come), we will also be a lender for wine NFT asset holders, and we will be a lender to producers. Think of us as a wine industry token that monetize all aspect of the industry in order to make it more transparent and efficient.
Q48: You say that WiV has developed a multilayer platform, where NFT can tokenize anything, so in addition to marketing Wine, does it plan to expand to market a greater diversity of spirits by tokenizing each of them?
Rich: Wine currently outperforms other luxury assets such as coins, diamonds, watches, and stamps. At the moment our focus is on Wine and eventually Spirits. But our technology is capable of much more. Visit WIVA.XYZ for more information. 😊
Q49: How is WIV approaching the wine sector, what actions are you taking to support vineyards, especially at this time when the pandemic is still going on, and how do you plan to help them in the long term?
Rich: The wine industry faces several challenges. Decreased visibility for the established but not famous brands, rising real estate costs for prime wine regions, and the increasingly exorbitant cost of entry into the business have created significant structural issues of this ancient sector. If it fails to face these challenges, many smaller producers are being lost: a tragic reduction in skill, knowledge, and culture across the industry.
Wine sales are growing at a rate of 2–4% per annum, but consolidation among growers over recent years has put power in the hands of the larger producers who can meet the yield demands and consistency expectations of mass-market buyers.
We aim to change the game for the smaller producers, providing a support network that allows ultimate transparency and support for unsung hero’s of the wine world.
Wine production from harvest to bottle takes between one and three years, but the winery doesn’t get paid until at best three months after the wine has left the vineyard. This creates a significant financing gap.
Traditionally, bank credit facilities, government loans/grants, or private equity loans have been available, but they are fraught with complications. They are also highly time-consuming to arrange and do so year after year. Financiers typically regard wine as an uninsurable asset. The combination of all of these factors tends to hit small producers disproportionately.
Opportunities exist, however, if growers can be supported by better access to finance.
Visit wiva.xyz to learn how we plan on revolutionizing the market.
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