Crurated Raises €3 Million and Brings Blockchain and NFT Technology Into the World Class Wine Industry
In addition to growing its impressive list of world-class producers the company will continue to leverage blockchain technology to innovate wine collecting beyond the cellar
Crurated Founder Alfonso de Gaetano
LONDON, April 12, 2022 (GLOBE NEWSWIRE) — Crurated, the London-based membership wine community designed to connect connoisseurs with world-class producers, today announced that the company has raised €3 million. Investors include noted wine expert Chris Van Aeken, Dip WSET, successful entrepreneurs, and other private wine collectors. The funds are being used to further build blockchain and NFT technology within the company’s existing platform. Alfonso de Gaetano, Founder of Crurated, will also focus on expanding in the Italian market throughout Tuscany and Piemonte and in France’s Côte du Rhône region.
Crurated officially launched in the spring of 2021 and has a team of 25 supporting its development. In that short time, the member base has grown to more than 500+ wine collectors and oenophiles. The company offers renowned brands including Louis Roederer Cristal, Domaine Meo-Camuzet, Domaine Arnoux Lachaux, Biondi Santi, among many others. In its first year, Crurated generated revenue in excess of €5 million in business.
“We are the first wine marketplace in the world to use blockchain technology where it matters, certifying at scale every single bottle that comes directly from producers into our warehouse in Burgundy,” said Alfonso. “We offer clients full traceability from the moment it leaves the Producers’ cellar to the moment it arrives at their own. We’ve built an infrastructure that connects the Crurated marketplace to the warehouse management system and our blockchain infrastructure.”
“Generally speaking, gaining access to top producers and rare wines is challenging if not impossible for most wine lovers,” said Chris. “With strong producer relationships and a blockchain-driven platform, Crurated is making world-class wines accessible to people around the world while at the same time bringing new technology into wine sourcing and collecting.”
Crurated creates an NFT for every bottle of wine that enters into its warehouse. The NFT provides detailed information on ownership history, vintage, vineyard location, varietal, and other key details. The NFTs are easily accessible by tapping on an NFC or RFID enabled phone. The bottle history is also updated via a new blockchain recording anytime the wine is resold and the token moves from one client to another.
In March 2022, Crurated hosted the All Heart Auction to support relief efforts in Ukraine. The auction raised $134K and all proceeds were donated to UNHCR. The UN Refugee Agency is a global organization dedicated to saving lives, protecting rights and building a better future for refugees, forcibly displaced communities and stateless people.
Launched in 2021 with an emphasis on France and Italy, Crurated is a membership-based wine community designed to connect connoisseurs with world-class producers. A team of specialists provides personalized services and authentic experiences, while Crurated’s seamless logistics service guarantees quality and provenance thanks to secure wine cellar storage and innovative blockchain technology. For more on Crurated, visit crurated.com.
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