The team behind the Italian Wine Crypto Bank is set to launch the world’s first-ever Baijiu bank in September, which will combine blockchain, NFTs, and digital assets to offer a unique experience for collectors of China’s most famous national liquor. Baijiu, which is distilled from sorghum, rice, and other grains, is a highly sought-after collectible, particularly the ones from Kweichow Moutai, a town in China’s Guizhou province that is geographically protected and where only Baijiu made in Maotai town can be called Moutai.
Named Crypto Baijiu Bank, this innovative project will allow collectors to buy and trade Baijiu using a wide range of cryptocurrencies, including BTC, ETH, ADA, BNB, LTC, and more. To ensure authenticity, each bottle will carry a NFC crypto-tag that can track its movements and detect if it has been opened or tampered with. The platform will use blockchain technology, similar to that used in the Crypto World Wine Bank, which is also owned by the Hong Kong-based company, The I Factor LTD.
However, the platform’s hardline stance on cryptocurrency trading means it will face challenges in China, where NFTs currently exist in a Crypto-less format. The company plans to make the NFTs available on international platforms initially, with hopes that they can be traded legally on a secondary market in China in the future. These NFTs will not be cryptocurrencies but digital collectible items, with a key to redeem a bottle of Baijiu. The Crypto Baijiu Bank aims to revolutionize the world of Baijiu collecting and make it accessible to a global audience.
