World’s First: Dictador Europe and The Stock Exchange in This Country Are Tokenizing Rum in Bid at Crypto
Dictador Europe is partnering with the Capital Group of the Warsaw Stock Exchange to tokenize aged rum. (Photo: Dictador)
Luxury rum brand, Dictador, has joined forces with the Capital Group of the Warsaw Stock Exchange in issuing tokens for collector’s rum for trading, according to a news release issued by the Colombian rum brand.
The tokens will be available for purchase and trading on a distinctive platform created by the Warsaw Stock Exchange, with the aim of issuing crypto-assets representing aged collector’s rum. This is an industry first, according to the brand.
Dictador, an arthouse spirits brand, focuses on collector’s editions of rums and is no stranger to collaborations with artists like Mr. Brainwash, Richard Olinski and M-City to name a few. The brand’s Golden Cities Edition bottles, which were designed by M-City were purchased by collectors for $1.5 million a piece.
Some of the tokenization may cover 60,000 liters of rum that spans vintages from 1983 to 1988 and was stored in over 100-year-old chestnut barrels. The 60,000 liters would yield approximately 100,000 bottles with an alcohol percentage of 41-50%.
Capital Group of Warsaw Stock Exchange is creating a technological platform that will allow the brand to tokenize and digitize its rum in “denomination tokens.” The project hosts a projected value of 100 million euros.
The latest project follows Dictador’s use of blockchain and offering some spirits in the form of NFT tokens. In 2021, the brand offered NFTs of Lalique and Orlinski expressions, which resulted in a “spectacular sale,” according to the brand.
Dictador plans to guarantee the same quantity of rum for a five-year period. An audit will be performed by an outside party at the end of each year to confirm the quantities of the assets are correct.
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