Wave Financial, a digital asset manager, plans to token 10,000 to 20,000 $20 million worth of Kentucky bourbon barrels.
Wilderness Trail's bourbon tokenization will allow foreign investors to invest in the growing US whisky industry. Access to tokenized bourbon will be provided through a special Wave Kentucky Whiskey 2020 Digital Fund. It is expected that tokens in the fund will be supplied with 4 million bottles of bourbon.
The U.S. whisky industry has been growing at a steady pace over the past decade. At the same time, representatives of the industry note the uniqueness of the product - unlike other food products, over time bourbon does not spoil, but on the contrary, becomes only more valuable.
"We give investors a unique opportunity to touch a rare asset class that is usually inaccessible due to low liquidity, limited stocks and high entry thresholds," said Wave Financial president and new fund manager Benjamin Tsai.
He also said that the auditor and administrator of the fund will recalculate the token value on a quarterly basis. And the longer tokenized whiskey will be stored, the more expensive it will become, and therefore tokens will become more expensive. However, users themselves can sell tokens at any price.
The launch date of Whiskey 2020 Digital Fund has not been announced yet, the start date is due this year. Participation in it will be available to accredited investors from around the world. However, tokens will only be issued one year after the fund launch - the delay is dictated by the rules of the U.S. Securities and Exchange Commission (SEC).
A year ago it was reported that William Gran&Sons is developing a block-platform for tracking deliveries of premium brand Ailsa Bay whiskey.
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