The idea of Tokenizing Fine Wine is clever. But it only makes sense in a world distorted by fiat money.

Platforms like Bacchus and VinoVest let people buy fractional shares of rare bottles as an alternative investment. The demand for this product is coming from people looking for new ways to protect or grow their wealth as the value of fiat erodes. This is the same force driving crypto speculation, meme stocks, the explosion of sports betting and the rise of the S&P 500. When saving doesn’t work, you're forced further out on the risk curve.

Vintage wine is a great candidate for financialization. It is more scarce than Bitcoin. Once a vintage is gone, it’s gone and unlike bitcoin, its consumable. The best bottles can increase in value for decades. But ultimately, wine is not forever. It peaks, then fades and the fleeting goal of collectors is to time the peak...by drinking it. The highest purpose of wine is to be opened and enjoyed. That purpose disappears when a bottle becomes a line item in your brokerage app.

Tokenizing wine solves problems that only exist in the fiat world. It is a way to turn enjoyment into speculation, but it kills wine's fundamental value prop. YOU DON'T GET TO TASTE YOUR FRACTION. No one is going to mail you a sip of wine. You just have to hope someone else wants it more later. That logic treats wine less like culture and more like collateral.

In a world where money works, where saving in Bitcoin preserves your time and energy, you don’t need to chase exposure to an obscure asset class that you probably don't understand.. You don’t need a token for everything. These platforms aren’t bad ideas. They are just ideas for a broken system.

Fix the money, fix the incentives.

Make Wine Wine Again.

If you enjoyed this, I'd massively appreciate a reNost.

I'll have more like this coming.🍷