GroGrapes, an Italian Project Combining Blockchain and NFT to Revitalize the Wine Sector

GroGrapes was created in Monferrato Astigiano from an idea of two friends, Carlo Farotto and Stefano Francia, who, in 2020, during the pandemic, decided to join forces to revive the wine sector in crisis, materializing the project in 2022 with the use of blockchain and NFT.

The initiative offers the opportunity to invest in a vineyard by purchasing vine seedlings. Each rooted vine is associated with an NFT, which, in addition to conferring the digital rights of wine ownership, will also give the opportunity to purchase the wine produced from that vineyard at a subsidized price or leave it in storage to sell.

The company that will manage the vineyard will take care of everything, but those who want to can become protagonists themselves by participating in the work in the vineyard and cellar.

The ultimate goal of the project is to raise financial resources to be used to support wineries so that they can no longer depend solely on public funding to support agriculture.

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An NFT that combines digital with real-world experience

GroGrapes also introduces for each asset (the individual vine plant), belonging to the project’s partner wineries, a digital twin in the metaverse whose purchase price equals the amount needed to own and maintain the asset in the real world for a perpetual period.

Thus, to those who participate in the initiative, GroGrapes guarantees the maintenance of the real asset in perpetuity and additional benefits such as an annual reward, a discount voucher for the purchase of the wines produced, wine tourism packages and online tasting experiences with top international experts.

A portion of the proceeds from GroGrapes’ activities will be donated to charity.

Becoming digital winemakers

GroGrapes will first create a collection of 333 NFTs depicting the avatar of a @DigitalViticulturist™ and each avatar will cost 0.75 ETH. The owner of each DigitalViticulturist NFT will be given an additional NFT corresponding to a Grignolino vine rootstock.

Next, the company will offer for sale a collection of 6666 NFTs of vine plants of different varieties: Grignolino, Barbera, Sirah, Nebbiolo, Zibibbo, Cortese and Chardonnay: 0.15 ETH for Grignolino; 0.30 ETH for Barbera, Sirah, Zibibbo, Cortese and Chardonnay; 0.45 ETH for Nebbiolo

The “tokenomics”

$CHEERS is a token that is generated by owning @DigitalViticulturist™ NFTs. At the end of each year of ownership, those who do not sell them will receive, for each NFT owned, $2,500 $CHEERS.

Specifically, NFT holders will receive 1 $CHEERS per day for NFT of Grignolino, 2 $CHEERS for NFT of Barbera, Sirah, Zibibbo, Cortese and Chardonnay, and 3 $CHEERS for NFT of Nebbiolo.

The $CHEERS can be spent on GroGrapes’ eCommerce to buy bottles of wine or other agricultural products, or be converted into a donation to “Operation MatoGrosso,” or, finally, be auctioned off to the highest bidder.

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(Featured image by JillWellington via Pixabay)

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