You can see the YouTube version here: https://www.youtube.com/live/x2RybMwVY-A
In case you missed Ep04 of our YouTube Live Roadmap series, fear not! You can still tune in for the recap and learn all about how to unlock the power of our Digital Cork technology.
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In this riveting session, Jana and Dave take you on a deep dive into the fascinating world of wine x web3, focusing in on the endless potential that comes with putting rare, collectible and investment-grade wines on chain (🍷,⛓️).
Attendees got to take a peek at our new and improved app and learn about how to benefit from some pretty enticing wine rewards. 🎁
This interactive session featured a demo showing off the anatomy of our Digital Cork NFTs, a lively Q&A, and a discussion about how attaching NFTs to wine will revolutionize the industry and create new, more transparent markets.
Don’t miss it! Tune in now and raise a digital glass to the future of wine and Web3! 🍷🚀
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TRANSCRIPT:
David Garrett: Hey, Jana, we're live.
Jana Kreilein: Hi Dave. Good to see you.
David Garrett: Good to see you as well. It's been a minute.
Jana Kreilein: Have you got a wine tonight?
David Garrett: I do. I'm drinking the Cos d'Estournel they're 'G' the 2019. It's very nice.
Jana Kreilein: Ah, you're always drinking really cool stuff when we do these, I mean, tonight I'm drinking,
David Garrett: Aren't you drinking something amazing from the Mosel?
Jana Kreilein: No. I’m drinking a Seghesio Zinfandel. I've got a bunch of wines still from my Diploma program in small bottles, or the half bottles that I got in England. I love that format and they're hard to find here.
I’m working my way through those. Yeah, okay, well thanks everyone for joining us. This is episode four of our roadmap series.
So basically this series is all about the plans that we have! We talked a lot in the first three episodes about things that we accomplished in 2022, plans for 2023, what we're working on now, a few things that are about to be released and we also did a deep dive into tasting tokens and rewards. That was definitely one of my favorites. There's a lot of really cool stuff built into the tasting token NFT. So if you don't know about that and the rewards that are coming soon that are gonna be attached to those, then definitely go back and check out those episodes.
Also, stay tuned because we're gonna be doing a demo and minting a tasting token for everybody who's watching and we've got a really cool giveaway at the end of this one. We're actually gonna be announcing what we've given away so far. So check your wallets if you've been on any of our last episodes in the Roadmap series, because the prizes have now been dealt out, and they're pretty freaking sweet. So, yeah.
David Garrett: They're very sweet.
Jana Kreilein: So I'm totally talking over, everything right now. Dave, you wanna introduce yourself?
David Garrett: Sure. So I'm Dave Garrett. I'm one of the co-founders of Club dVIN. As I always say, I've been in the wine business for 20 years on four continents and this is easily the most exciting project that I've been involved with.
It really is in my mind a way to build the infrastructure for the future of the wine industry. And it's funny, this week I was doing a training for the platform, and we'll talk [00:02:00] about this a little bit later, at a, at a very, very old, you know, 10 generation old winery.
And in the beginning of our pitch, what I always say is that, , you know, the wine industry has worked the same way for the last thousand years. And what we're building is, I think, or like to think the platform for the next thousand years. So, yeah, , you know, it's, uh, it's really fun.
It's fun and it's exciting and I couldn't be happier to be here with you today, Jana. Thanks.
Jana Kreilein: Thanks. Dave also does a lot of really cool wine media projects and profiles really interesting people in the wine world, so, yeah. And I'm Jana Kreilein. I am the wine girl on Instagram in case you recognize that.
I've been working in the wine industry for about 10 years from the ground up. Did all the hands-on stuff in the cellars and had the pleasure to work in the vineyards for a few years here in Germany, which was awesome. , so learned the art of winemaking. And I've filmed a documentary series with Aldo Sohm, one of the world's greatest sommeliers. So that was also an honor. And now really excited to be working with Dave on Club dVIN. But yeah, let's dive into tonight's topic because it's a good one. It's gonna be all about how to unleash the power of the digital cork.
So if you've seen the other three episodes, you know what a digital cork is but Dave, what is a digital cork and how do I get one?
David Garrett: Sure. So a digital cork is what we call the NFT, the non fungible token. That is the digital twin or, you know, really more accurately the deed of ownership for a specific bottle of wine.
So it's a one-to-one ratio, one digital cork NFT to one bottle of wine. But that's really what it is. I'm gonna take a minute and go back and, and do a little refresh on one of our topics for wine and web3 101, which is to talk just a little bit about the blockchain and where this fits on the blockchain.
The blockchain in general is, and the best example that I've heard and that I've, you know, [00:04:00] stolen shamelessly for how the blockchain works or what it's is, it's very similar to a registry of ownership. It's a ledger that, that really just shows who owns what. It's a registry of ownership and a registry of transactions.
And there's a really simple analogy that almost everyone can understand, which is your local real estate office, right? When you buy, if Jana was to buy a house from me, then we would go to the local real estate office and in the big ledger of who owns what real estate, we would cross off her name and we would add mine and say this piece of real estate changed hands on this day from this person to this person, and usually for this amount of money, right?
That's all public information. It's kept by the government, it's on a ledger, and that's how you know who owns somebody's house. Right? It's not who lives there. It's not like the last person to spend the night there. It's whose name is on the ledger in the real estate office. And that's really what the blockchain is.
It's that, but [00:05:00] instead of being run by a government agency, it's run by what we call consensus. Which means there are tens of thousands of servers, of computers around the world that all have to agree. They all have to agree, yes, that house got sold from Dave to Jana, so everybody agrees.
And so it's an exact duplicate of the ledger on all of those different computers, and that's how it works. So what the blockchain is in this instance for digital corks is it is a deed of ownership. It is a registry that's basically creating that same thing, that same ledger that says this person owns this phone.
This person owns this bottle of wine. And why that's interesting, especially in the investment grade and collectible space, is because now you can really treat wine like a real asset, like it actually part of asset class because you have ownership you can do things like have insurance, you can do things like borrow against it or leverage it, right? [00:06:00] Like if you're just a renter in a house, no one's gonna give you a mortgage, right? You can't take out insurance. Like you can only do those things if you can prove that you own it. And that's really what the blockchain is doing for wine.
And the digital twin is that deed of ownership, just like the deed of ownership for your house, for like a giant asset, this is a very small digital deed of ownership for your bottle of wine.
Jana Kreilein: That's great. That's a good, a good summary with a good amount of background, I think for people to understand.
so basically your digital cork sits on the blockchain, right? Public facing, Yeah. Transparent and immutable. Yeah. And it's your authentic proof of ownership over that bottle of wine.
David Garrett: That's exactly right. I own this bottle and because it's on the blockchain and because it's digital, it actually makes it very easy for me to sell that bottle of wine to you, right?
I can sell the bottle of wine to you and now you own that bottle. And you know, it can be very, very simple transaction that can be done on the blockchain. And we'll get to talk later about why [00:07:00] that creates liquidity and why that creates price transparency and all of that other stuff.
But yeah, the most important thing is this is your proof of ownership. I own this bottle.
Jana Kreilein: So, Dave, how do digital Cork NFTs actually show up? How do you showcase them in a digital cellar?
David Garrett: Sure. So because it's on the blockchain we have built a really cool tool. You can see your digital cellar in our app, and you can see all the wines that you own.
but interestingly, because it's on the blockchain, you can see it in a bunch of different places. So you can see it in open sea or Rarible or any of the marketplaces for NFTs. You can see it on Instagram. Instagram kind of has the ability for you to show off your digital collectibles.
I know that that program's coming to an end at some point in the next couple of months. But I think it's just because they're gonna revive it for something bigger and better later. Yeah, it's temporary. yeah. But, it provides you with a way to keep track of [00:08:00] your digital cellar in a way that not only you can pay attention to, and you can look at and you can share with friends, but in a way that, you know, over time, we think there's gonna be a lot of opportunities, a lot of great tools for you to be able to show off your digital cellar to friends and family and people that you know. and we think that's pretty exciting. And the most exciting part for me is instead of it being like, A blurry picture taken in a dimly lit, , you know, cave or a dimly lit bar, , uh, which is kinda what people are posting Instagram today. This ends up being a really beautiful piece of film that we do for each winemaker, and eventually the winemakers will do it on their own. But the idea for that is it's a way for the winemaker to tell their story to use the creative element of the NFT to tell their story.
Jana Kreilein: Yeah, that is really beautiful. The digital cork is the story of the wine. So if any of you have seen one of our tasting token NFTs or Digital Cork NFTs, you'll recognize that.
So it shows a little bit of the winemaker, a little bit about the winemaking and where the grapes were [00:09:00] grown. and then basically what happens is once you have digitally uncorked and of course, physically uncorked your bottle of wine that's connected to that digital cork NFT, then what happens is the NFT is destroyed, right?
It's burned, because that wine is no longer authentic and no longer saleable. So that NFT converts into a non-transferable NFT, which is your proof of experience, and that's what's called a tasting token. And the great thing about the tasting token is just as you can see your entire digital cellar with all the bottles that you have unopened there, the tasting journey is everything you've actually tasted, whether or not you owned the bottle in the first place, or whether or not somebody who owned a bottle and shared it with you, also minted you a tasting token to give you that proof of experience.
David Garrett: Yeah. And if you wanna know more about tasting tokens, you really should listen to episode two. We talk about rewards, we talk about lots of different ways that tasting tokens provide [00:10:00] utility. And speaking of that, Jana, I'm gonna talk a little bit about community.
So, one of the most kind of interesting things about having your cellar on the blockchain is because it's public. And now when we say it's public, what's public is just, there's a wallet address that's public. And you know, individual wines all have a number attached. So the public information is mostly anonymous.
With our software on the backend, you can opt in as a consumer, as a user on the platform you can opt in to share your contact information with the winery, and then the winery can now create a community around their best customers. And that's really the long-term goal, is to create community, finding other people that love the same wines that you do, being able to, to know that they're, you know, authentic fans and that's what they like , and being able to create community around that. So we're, we're really excited about that angle in the future, as being a way to, [00:11:00] you know, to create connections in the wine world, connections between winemakers and wine lovers, and really connections amongst wine lovers that wanna create community, either around a specific brand or maybe a specific region.
Jana Kreilein: Yeah, not to skip over that too quick, but Dave connecting winemakers and end consumers. That's a big deal.
David Garrett: Yeah. And we're kinda doing it at scale and doing it at the moment of consumption, which is, it's really interesting.
It's like we're taking the best parts of a tasting room experience and putting it in your living room, and putting it in millions of living rooms all over the world. So I think that's pretty cool. And, you know, I hate to bring up the metaverse word, but when you think about the future of what that could look like, there's really some interesting elements.
You know, what I envision is having a digital cellar where I can very easily and quickly sort my wines by vintage or sort them by producer or sort them by region. but more importantly than [00:12:00] that, I see those digital cork NFTs in the quote unquote metaverse as a portal to the winery themselves.
So we talked to a bunch of wineries that are in the process of building out some kind of interesting metaverse or virtual experiences. And for all of them, they are trying to figure out how do we bring the right people in? How do we make that really work?
And what we've talked to them about a lot is using our tokens as like a doorway into having a virtual experience with the winemaker. Uh, we've talked about building an AI version of the winemaker. So you can have a realtime conversation with the winemaker about that vintage or about that particular wine.
So lots of cool stuff that can be built on top of this, that are really, I think, really fun and interesting.
Jana Kreilein: For sure. So let's focus specifically on digital corks again. What are the benefits of actually having a deed of ownership attached to your wine?
David Garrett: So, a couple of things. [00:13:00] I told a story in the last podcast, but I'll, I'll tell it briefly again, which is that I spent a bunch of time in Ecuador about 20 years ago, and Ecuador had it's a little country in South America on the equator, and it's right next door to Peru.
And Ecuador had a much more advanced economy than the Peruvian economy. And I was always curious about why that was, you know, mostly people with the same backgrounds that has roughly the same area, roughly the same, you know, natural resources, why is it different? And what was explained to me, and I thought it was fascinating, there was a guy that wrote a book that, the reason was that in Ecuador, they had great property rights.
So you had a deed of ownership over your house, and that meant you could borrow against it. It meant you could get insurance. It meant you knew who would get the house, who you could leave the house to. It meant that it was very easy to buy and sell real estate, and that created an asset [00:14:00] class for millions and millions of people.
But while, whereas in Peru they didn't really have that, they didn't really have, , you know, uh, any way to know legally who owned the real estate. It was just kind of whoever was living there just like we talked about earlier. And so Peru actually was in the process of changing that over. And it just creates so many interesting economies, right?
Once you have something that is now an asset rather than a possession. An asset you can leverage or you can borrow against an asset. You can insure against an asset. You can keep track of how much it costs or how much it's worth. And turning your digital wine collection into an asset, I think provides really, a host of different, really interesting opportunities.
Not just for wine collectors, wine investors, but really winemakers and the, and the whole wine industry. So there's really fun stuff coming down the road with creating that deed of ownership. There's lots of, lots of [00:15:00] things that happen when you convert something that is a possession into an asset.
Obviously it's not true for all wine. We're really just talking about collectible and investment grade wine right now. But those are typically wines that you'll hold onto for 20 or 30 years or more. So, you know, making sure that that is a, that that's an asset with all of the trimmings that come with it we think that's really important and really transformational for the industry.
Jana Kreilein: So including opportunities for insurance and lending, all of those good things. Okay.
David Garrett: So when you think about like, buying things online right? Or marketplaces online. You think about two different things, right? One of them is like Amazon or eBay. If you wanna sell something that you own or Etsy, there's a lot of kind of interesting marketplaces. So right now most wine is sold on marketplaces like that, where it's sold as a one-off.
You can either buy it from a shop owner or maybe you can buy it on eBay or buy it on some secondary [00:16:00] market. Like there's a couple of places where you can buy wine. But when you think about wine as an asset instead of a possession, you start really thinking about a different kind of marketplace. So let's talk about stocks.
Most of you probably own maybe a mutual fund. Maybe you own some individual stocks. So the way that stock trading works is very different, right? It's not like if you sign into Fidelity or Robinhood or your Merrill Lynch account and you go and buy a share of Ford. You're not buying that share of Ford from an internal marketplace that's run by Robinhood or an internal marketplace that's run by, by Merrill Lynch.
You're buying it from the actual marketplace. You're buying it from the stock market, right? So all of the information, whether you're on Fidelity or on Robinhood or on Merrill Lynch, all the information about that asset, that share of Ford stock or Amazon stock or Apple Stock, it's all the same everywhere, right?
[00:17:00] Those websites are more a portal into a transparent marketplace. That's what the stock market is. By attaching digital corks to bottles of wine you're creating something much more akin to a stock market than something like a, a more opaque and stovepipe marketplace like an eBay or an Amazon, right?
When you buy it on the blockchain. And it doesn't matter if you're on OpenSea or Rarible or wherever, and you can see this, if you go to any of those websites, like every single transaction is recorded on every site. So it doesn't matter if you're buying it on OpenSea or if you're buying it on Rarible or any of the other blockchain marketplaces, they might have different features, just like Robinhood has different features from, from Merrill Lynch.
But what you end up with is a very transparent and fluid market with lots of liquidity. And that's really what we hope [00:18:00] happens with the wine industry is, especially in collectible and investment grade wines right now, there's so much opacity in the market. You never really know what a bottle is worth.
it's very hard to figure out where the buyers in the sellers are. But if you do it on the blockchain, now any buyer can find any bottle for sale from anybody. Cause it's all on a big, transparent marketplace. And that creates a ton of liquidity and it also creates pricing. So now you know, you can know exactly what that bottle was traded for, no matter where it was traded.
If it was traded on Sotheby's, great. If it was traded on wine.com, great. If it was traded at Christie's, great, no matter where it was traded, the that trade is. Published in the same place. It's all transparent. Mm-hmm. , so it creates a much better pricing mechanism for investment grade wine.
Jana Kreilein: Yeah. You know, we believe that in the future, every bottle of rare collectible, investment grade wine will have an NFT attached to it. [00:19:00] and the idea that you can go on and see everywhere that the wine has been, and track that whole chain of custody, you're gonna always pay more for the bottle of wine where you can see its entire journey. Right. So, ensuring that chain of custody.
So how do you ensure, Dave, the chain of custody from grape to glass? How does this work?
David Garrett: Well, it's difficult. It's not super easy. We're really just in the very beginning stages. How we're working on it right now is that we're attaching either an NFC sticker or RFID, which is very similar to NFC.
And there's actually some overlap between NFC and RFID. But that sticker is really interesting. It actually has the same technology that you use when you tap to pay with your credit card. Right. But where it's really interesting is, , if, if Jana, have you ever heard of these Amazon stores where there's no checkout, you just go in, you take your cart, you fill it up with whatever you want. And then as you leave, [00:20:00] It just scans all the things in your cart and charges your
card.
Jana Kreilein: Absolutely. And it feels like you're stealing everything surely, but how cool.
David Garrett: Super cool, right? Yeah. Well, now imagine this. Imagine if you put one of those same stickers on every bottle of wine, and as it leaves the winery, that information is updated on the blockchain.
This bottle left the winery, and as it goes through the supply chain. Every place it stops on the supply chain, it gets recorded. Okay? Now it's, it's in a container now it just entered the port of New Jersey. Now it's at the distributor. Now it's at retail. , and now it's in your cellar.
Right, and that can be updated all along the chain, very easily put on the blockchain. So, you know, once the technology's put in place with really just a relatively small number of players on the supply chain, you'll be able to track nearly every bottle, all the way from the winery to the retailer and to your house and that's really, [00:21:00] really interesting.
I think that's really fun and it provides really a great way for you, Jana, if you wanted to buy a bottle of wine, let's say there are two bottles of wine that you wanted to buy, right? There's a, or let's say there's you, you wanted to buy a 2003 Chateau Palmer, right?
Let's say that's, that you wanted to buy that bottle, and there's two for sale. One of them has been sitting in a bonded warehouse in Bordeaux for the last 20 years that you can see right there on the blockchain. And the other one has traveled all over the world and had a, an owner in Singapore and an owner in Dubai and Buenos and Austin, Texas.
Well, the truth is, you're gonna look at that and you're probably gonna pay more for the one that has been sitting in a bonded warehouse for 20 years. Hundred percent. And, and that's, I think every and every transaction you can do that. So what it does is it provides price differential, which you know, it, it's a real incentive for people to to [00:22:00] take care of provenance and to make sure that they store their wines correctly. And big incentive to leave the wine at either at the winery or at a, or at a bonded warehouse. But on the other side, it also disincentivizes fraud and counterfeiting because the more you know, a, if you, if you can't provide the chain of custody, Your bottle's gonna sell for a lot less, and b, it provides less of an opportunity for you to, to game the system. So, yeah. You know, a lot of people say now that, what, what's the nu percentage of wines in the collectible space that are counterfeit? 20%?
Jana Kreilein: I've, I've heard it's higher than that, but Yeah.
Yeah. Sour Grapes.
David Garrett: This crush all the incentives, right? Not that you wouldn't technically be able to do it, but if you did it, you wouldn't make very much money. Right? Yeah. The economic incentives would go away and that's one of the other things that makes it really, really interesting to have that chain of custody, to create price differentials, and to be able to track [00:23:00] your wines like we said, from grape to glass.
Jana Kreilein: All right. So I think we've pretty much covered price differentials and provenance. If there's anything else you wanna go into about that, go for it.
David Garrett: I do think that once we have mass adoption of digital corks on bottles of wine, it really creates a platform to do a lot more interesting things, right?
Like, once every wine is tracked, you can do things like have an authenticity module, right? So, you know, built on for wines that people really, uh, where there's a lot of economic incentive to counterfeit or to fake the wines. you could build on a module on that platform, which would be like, okay, this is bottle 123678
and if you're gonna buy bottle 123678, you can really see that if I'm gonna buy bottle 123678 I know that [00:24:00] you owned it. Mm-hmm. And I'm buying it from you. And if I go and look up bottle 123678, and it says somebody else owned it, or Right. It says something else that I know that the bottle that you're trying to sell me is fake.
Yeah. So it makes it really, really hard to do counterfeit and faking. The proof of provenance or the carbon offsets is another thing that we've talked a little bit about. You know, digital corks, like all NFTs are smart contracts. And a smart contract is just a set of rules built into the software then those rules are how transactions work. And a bunch of other things. But transactions mostly. Well, If we can track every bottle from the winery to the retailer, then we actually know once the bottle gets there, exactly how much carbon went into, not only making that wine, but transporting that wine to the retailer on an individual bottle by bottle basis.
And as part of the smart contract, you could very [00:25:00] easily say, Hey. You're gonna, we're gonna charge a premium for that bottle just enough to cover the, to buy carbon offsets for that particular to offset it. Yeah. Now, not every winery's gonna do it. Not every retailer's gonna wanna do it, but some wineries will, wineries that are super environmentally conscious when it's, when, if that's part of their identity and part of their brand and that could be a really interesting way to use this technology to make the wine industry a little bit more green.
And then obviously you could build a direct to consumer platform on top of that model. Right. Very easy. It makes it a lot easier to sell direct when you have a community of buyers and they're buying the NFT.
We've talked to a lot of wineries that are really interested in building a direct to consumer business, , and then just storing the wine at the winery. So if you store the wine at the winery, it makes it very, very easy to do a direct to consumer platform, which is, you know, there are a lot of wineries in Europe that are itching to start direct to consumer, but they're [00:26:00] not really sure how.
And we think this is a, this is a great platform to build that up.
Jana Kreilein: Absolutely. And these are just a few of the cool things that you can apply to this technology. So the tip of the iceberg. And if you guys are in our discord, we're always looking for ideas from our members from the community.
This is a really exciting time and it's the beginning of certainly a lot of movement in the industry. So don't be shy if you have some cool ideas.
Dave, should we start doing the demo and mint everybody a token?
Dave will show us the anatomy of a digital cork.
David Garrett: Very exciting.
Jana Kreilein: Very exciting.
And remember we are giving away a bottle of wine for every one of these lives leading up to our friends and family closure. So far, we gave away three incredible bottles. I'll tell you what they were at the end. So everybody who's been on any of the lives leading up to today, just go into your wallet and check and see if you won, but yeah, before I [00:27:00] say what we gave away, I'll let Dave do the demo.
David Garrett: So I realized that the last few times we've been doing demos, I've been showing off my account, and I've got lots and lots of digital corks and lots of tasting tokens in my account.
so maybe that's not a super useful example. I wanted to show you a little bit more about what it might look like for a new customer. And then we'll also talk about how to mint your friends and family token. So, what you see here, we're built mobile first and, and actually kind of mobile only.
we haven't built a native app for iOS or Android yet, but mostly that's because we just wanted to reduce friction. You know, our goal all along is we're all about in real life experiences, enjoying wine with friends and family. That's one of our core tenants. So we didn't wanna build something where in order to get on board, you gotta have to download an app and you know, sign on and register an account and all that stuff.
We wanted to make it as fast and easy as possible.
Jana Kreilein: We did 58 events or something in over 10 countries [00:28:00] last year So we didn't wanna be standing there at an event and someone's tasting a wine and then, oh, hang on, can you download this app and then do this?
So it's, it's super slick. It's uh, pretty cool.
David Garrett: Yeah, we made it super fast and easy. So when you go to app.club.com, you'll get this page. And this page is our sign in page. And there's really a couple of different ways to sign in if you don't already have an account and if you don't already use a meta mask wallet or one of the other wallets you can very easily just create a new account using your Google account, your Apple account, or your Twitter account. By clicking this button, I'm just gonna click it to show you what it would look like. So it goes through and say create new account, and it gives you the ability, you just hit Google or twitter or Facebook, or, there's lots of different options. You could do LinkedIn, you can do Apple, but with any of these, it'll create a new account for you [00:29:00] in, you know, 20 seconds very, very easily and quickly.
This one here.
And so this is what you see when you first sign in using your wallet, , whether you're creating a new one or if you already have a meta wallet . And what we'll talk about first really simply is the cellar. Cause that's really the heart of what we do here. There's lots of other things, but the cellar is the, is the heart of it.
So you'll see I've just signed in brand new, so I don't have any tasting tokens. but I did put a couple of digital corks in my wallet. Now, the first one here this is the Digital Cork for a bottle of Graham's port. The reason that I did that is because we were just there.
I was just in Porto on Thursday training their team on how to mint tokens for their customers. They're one of the first wineries in our pilot program. And what's really interesting about Graham's is the company that owns Graham's is Symingtons and Graham's and Dow, which are two of the brands that they own, are two of the oldest wine [00:30:00] companies in the world.
I think that Dows is, I think it's 250 years and it has been producing wine contiguously for 250 years. Which is really, really interesting and fantastic. So we created this digital Cork as a way to kinda show off Graham's. You'll see the video is that kind 12 second video. It starts at the vineyard and then goes to the winery, and then to the winemaker, and then to the bottle, right?
So the idea is, it kind of tells the story of, of that particular wine you see the blue check mark up here is pretty interesting. That blue check mark means that this bottle was sourced from the winery. So if this was a green check mark, it would mean that it was sourced from retail, either a retailer or a restaurant or some middleman, uh, or if it was a white check mark, what it means is that we did a virtual, or maybe even an in real life authentication [00:31:00] for your bottles and it came from your private cellar. So those are the three layers of authenticity that we show off right away. So you get to see right from the get go where that bottle starts, where the chain of custody for that bottle starts.
You'll see that it's got these kinds of interesting ways that I can interact with the bottle one is to ship the bottle. The way that we're doing it with Graham's is they're gonna keep the bottles at the winery and then ship them out when they're ready. And until this bottle is shipped to me, it'll have this ship bottle button. and then it also has the open bottle button. Now, what's interesting about this page is if I was to tap the NFC sticker on that bottle, I would get this page if I owned it, I would get this page and I would see these inter buttons, and if I didn't own the bottle, I would still see this page and get to see all the information, but I wouldn't be able to interact with the bottle.
So that's the difference between whether you own the bottle or you don't own the bottle with the NFC sticker. There's [00:32:00] also tons of great metadata for the wine from the vineyard to the winery, like exactly how the wine was made, how long it was in barrel, pH level at harvest, like lots and lots and lots of good information.
So that's the nature of a digital cork. I'm gonna click here and go back to my digital cellar, and show you this. We made a token to be able to share with you folks today so that we could show you what opening a bottle and minting a token looks like. It's actually super simple and very easy.
So this, again, the source of this is Club dVIN, if I click here on open bottle, you're not seeing it, but it's pulling up my wallet. I'm saying, yes. I wanna open it cuz you know this is an asset, right?
So by opening this bottle, I'm actually burning the asset.
so I said, yes, I wanna open the bottle. And what's happening right now is a couple of different things. The first and most important thing that's happening is the original Digital Cork, the digital [00:33:00] twin, the certificate of authenticity for that bottle is burned, meaning it's destroyed. You can't see it anymore.
It's not on the blockchain anymore, that bottle no longer exists. It also lets people know, right? It lets us know, hey, that bottle has been opened. It also lets the winemaker know, Hey, there's one less of these bottles in the world. So it's kind of interesting, right?
Like if you start with 20,000 bottles, but 20 years from now you get down to only 10 or 20 bottles left. It's really interesting to know how many bottles of that particular vintage are still left unopened in the world. The other thing that it does is it mints you a tasting token. So now instead of the saying open bottle or ship bottle, what it says is mint token, right?
It gives me the ability to mint a token. So I click mint. I again, have to sign a little message. But if you imagine that we're all sitting around a table together and I've opened this bottle of wine and poured everybody a glass,[00:34:00] and I've opened the bottle or pulled the cork digitally on my phone and let everybody scan this token.
Now you can, and you can all do this from home. You can pull out your phone and with your regular camera. You can scan this QR code and that will get you, if you're already on the platform, it'll get you that token. And if you're not already on the platform, it will, create a new account for you, build you a new wallet and mint you a new token.
Jana Kreilein: Okay cool. And all tasting tokens, again, if you watched episode two, you'll know this already, but all tasting tokens come with rewards or incentives.
And the rewards that we'll be giving away are gonna be things that we come up with with our partner winemakers. Whether it's barrel tastings, harvest events, there's gonna be all kinds of really cool wine experiences that you'll be able to redeem.
So this is proof that you attended this virtual event. There's definitely gonna be a reward at the end of this event because we're giving away a bottle of wine. Actually, I'll take this second to give you guys a [00:35:00] little exciting news.
For episode one, we airdropped a digital cork for a magnum of Grower Champagne, the guy mea. So whoever attended episode one, check your wallets. there was one lucky winner. For episode two we gave away a regular format size bottle of grower Champagne, also Guy Mea. And for episode three we gave away a 1996 Chateau Margaux. So check your wallets. That's one hell of a prize. It's a hundred point wine. Not many bottles left on Earth sourced directly from the Chateau, and who knows what we're giving away for this episode. You'll have to, uh, you'll have to wait and see.
David Garrett: It's pretty exciting. I can actually show you real quick. One of the things that I was showing you while Jana was talking was if you go inside the app, you can check and make sure that every one of your NFTs is visible on the blockchain.
And so we put a link to Rarible, but just as easily you could go and see it on OpenSea or anywhere else. So [00:36:00] this is the wallet. If your wallet ends in 8 0 0 E this is the single bottle that we gave away for episode two. This is someone that came to that event.
You also see this person as a member and actually attended our event at, uh, NF Castle. So that's, that's pretty cool.
This is the wallet thats ends in EF7D. They got the Magnum bottle, pretty exciting. This is also someone that owns a stoned ape it looks like, and some other great NFTs. but looks like they came to two of our events.
And then here's the bottle of Chateau Margaux. And this is the last four digits of the wallet or 4323. It looks like they went to two of our of our events, and these are the only NFTs they have. So someone, uh, you, you better check your wallets, but if your wallet number 4, 3, 2, 3. Uh, you just got an amazing bottle of wine.
I mean, we, we just picked these out of a hat. So we put all of the wallet addresses of everyone that claimed the tokens into a hat and Jana pulled them out and that's who got the token. So we don't have any idea who these [00:37:00] people are, but, uh, somebody just got a, got a great bottle of wine.
So anyways, let's move on. You wanna do q and a right now?
Jana Kreilein: Let's announce that we're starting the q and a. So anybody has any questions, put them up now and we've got a couple more things to talk about and then we'll come back to that just to make sure everyone has time to put them in.
Dave, did you wanna show something else or should I talk f and f?
David Garrett: why don't you talk f and f and then I will, I'm gonna show off kinda how the purchase works. Yeah.
Jana Kreilein: Cool. Okay. So, we have been slowly onboarding people into the club for almost a year or just about a year and basically the reason that we've been doing it so slowly is because we are brand new and we wanna keep things very exclusive and last year was you know, it was early adopters, it was friends and family of us and friends and family of our founding members. Our founding members being about 40 people who we hand selected because we think they are the people that are gonna be shaping the wine industry for the next 50 years.
So we've got [00:38:00] some incredibly influential really cool people that are founding members of Club dVIN. You know, Jane Anson, who is the one of the best wine writers I know and the authority Bordeaux for sure. She's a founding member. We've done some events with her. We've got some cult winemakers.
You know, Raj Power is a founding member ,we've got about seven masters of wine and some Master Somms and it was just basically friends and family of all of us at the beginning. And then slowly that expanded and, and how it worked was to get into the club, you basically had to sip your way in.
So if somebody poured you a glass of wine and minted you a tasting token, that tasting token gave you the ability, and it still does today. Having any tasting token of club dVIN in your wallet gives you the ability to buy a membership at 50% off, right? And the public sale is closed. So the only way to get in is by having a tasting token in your wallet and getting through that sort of token gated process to get you to the part where you can actually buy which Dave will show you in a second.
So what we're doing is we are closing that off [00:39:00] forever. So it's gonna end March 31st, last day. Okay and Dave and I are gonna be in New York next week doing, uh, a really exciting collaboration with Real Vision and that's it, that's the end of our, of our friends and family. So last chance to get 50% off on a lifetime membership to the club.
David Garrett: so I'm gonna show you how it works, but I'm also gonna answer a question I see.
Someone was asking like, who's, who's the intended audience for this live stream? And, you know, it's a really good question. Here's what we think the early adopters for this project are going to be, we think that there's, two different kinds of people. One is people that are wine native and crypto curious, or web three curious.
So people that love wine and kind of understand that Web three, you know, has created some giant opportunities in the wine space, and wanna know more about how it works and where we're going and why we're going there. and then the other side of the coin are people that are web three [00:40:00] native and wine curious.
So people that might already be NFT collectors. They might have a bunch of Bitcoin and, and Ethereum. They might trade currencies or trade NFTs. but the individual peculiarities or the super interesting pieces of, you know, how it works in the wine world is actually pretty unique.
So part of what we're doing is evangelizing, letting people know why it's exciting, why what we're doing is exciting and why what we're doing is transformational for the industry. , but also we're building our hopefully our group of early adopters and people that will help us to get the word out.
You know, wine is fundamentally social. And for the most part, you know, we, we know that it's a, this is really cool and fun, but what we're hoping to build is something that everyone wants to share with their friends when they're sharing a great wine with their friends and family, they're also sharing demand and how it works and that's kind of how, that's how we want grow. So if it seems repetitive, what we're [00:41:00] doing, I apologize. but part of it is cause it's, it also is pretty complicated. So it takes a, it takes a few times to, to really understand all of the interesting intricacies of what we're doing.
So about how to join, because we have this tasting token, because this tasting token is in my tasting journey, I now have the ability to mint a token. So, how I'm gonna do that very easily if, and if I didn't have this token, I wouldn't be able to mint friends and family.
You can only do it if you have at least one tasting token, which means that you've either had a glass of wine with someone who's already a member, , or you've come to one of these sessions. That's the only way that you can get a tasting token, because you can't buy them.
They're not transferrable, they're not for sale. So the only way you can possibly get one is through a friend, and that's why it's called the friends and family. so what you'll do is you'll go here, you'll go to special release, and this will take you and show you the memberships.
Jana Kreilein: So what you were seeing a second ago was what would be the public sale price. And now you see it's discounted when he [00:42:00] refreshed there, cuz now he's got the token in his wallet.
David Garrett: Right. So you can see that the Genesis token, instead of being 1.5 ETH is 0.75. The Global Insider, instead of being 3 ETH is 1.5.
You can see on the website everything about what the difference is between Genesis and Global Insider. It really has a lot to do with our concierge service. but you can also look here and see all of the different pieces. If you click back and forth you get a little bit more information on the different things. And then when you go into mint, you can click here, you can click mint now, you can buy up to two. One or two. And what's interesting is you can pay either with Ethereum, so if you click here, it's gonna open your wallet, and you'll be able to pay with ETH if you're crypto native or, or web three native. Or you can pay with a credit card with really any credit card, we work with Stripe, so if you click here, it'll open a little stripe window and you can even do it with, uh, with Google Pay or Apple Pay. If you're on your phone, it takes two seconds. It's very, very [00:43:00] simple. And then, we'll, we'll mint the token to your wallet. But it's very easy, right?
It's two clicks. Super, super simple, very easy to mint a new token.
Jana Kreilein: If you guys are interested in learning more about all of the benefits of Club dVIN, we cover them in every live and as Dave said, sometimes I think we might be getting repetitive for people who are tuning in every time. But there is a great website, it's clubdVIN.com/private. This is a page that's all about the friends and family offering. So it shows you, you know, the same pricing that you'll see if you have a token in your wallet.
And it goes through every benefit, you know how it works. You'll get to discover in detail everything that, that really matters about why you'd wanna be a member and more about the community and things like that.
David Garrett: Yeah. So that link is in the notes. We'll put it in the show notes for the podcast if you're listening to this on our podcast and then it'll also be on our Substack so you'll have that link. And right now it's not live. If you go to the link, it says join the wait list, but it'll be live on friday the 31st.
There's one more question.
Jana Kreilein: Oh, yeah. What do we got?
David Garrett: The [00:44:00] question says, how long does it take from clicking to ship bottle to having the bottle leave the warehouse in France?
So usually that's just a couple of days. We work with a couple of partners. It takes, usually two within two days to ship. And if you're in Europe it's usually takes two days to receive it. But it, we really do ship everywhere around the world. We ship bottles to Tokyo, to Singapore, to San Francisco, so everywhere else.
It's, uh, it's good. Good. Super easy, super fast.
Jana Kreilein: All right. If you guys are in the real vision community, then be sure to keep an eye on their lives next week. Dave and I'll be in New York doing a live tasting with Raoul Pal.
David Garrett: Yeah, we're doing some fun stuff.
Jana Kreilein: Yeah, we are big fans of Real Vision and that's gonna be a really cool collaboration. So keep an eye on that. We'll be sharing it as well. And again, last chance for f and f, tell your friends.
Cool. I think we've covered it.
David Garrett: Look at that. It's good. One minute to go.
Jana Kreilein: just a little wine left in my glass. I think I paced it out pretty well. I haven't seen you take a sip. Are you lying about drinking with [00:45:00] me? Where's your glass?
David Garrett: It's here,
Jana Kreilein: Dave. Oh, good. I feel like I haven't even noticed you taking a sip. All right.
David Garrett: You're not paying attention.
Salut.
Jana Kreilein: Thanks everybody for joining.
Thanks. Thanks everybody.
🍷Club dVIN Livestream: Digital Cork Deep Dive⛓️