Blockchain and NFT technology centric Crurated raises €3 million

London-based wine marketplace, Crurated, has raised €3 million.

Investors include wine expert Chris Van Aeken, Dip WSET, entrepreneurs, and other private wine collectors.

The funds are being used to further build out blockchain and NFT technology within the company’s platform.

Crurated launched in 2021 with an emphasis on France and Italy.

Alfonso de Gaetano, Founder of Crurated, will now focus on expanding in the Italian market throughout Tuscany and Piemonte and in France’s Côte du Rhône region.

“We are the first wine marketplace in the world to use blockchain technology where it matters, certifying at scale every single bottle that comes directly from producers into our warehouse in Burgundy,” says de Gaetano.

“We offer clients full traceability from the moment it leaves the Producers' cellar to the moment it arrives at their own. We've built an infrastructure that connects the Crurated marketplace to the warehouse management system and our blockchain infrastructure.”

“Generally speaking, gaining access to top producers and rare wines is challenging if not impossible for most wine lovers,” says Van Aeken.

“With strong producer relationships and a blockchain driven platform, Crurated is making world class wines accessible to people around the world while at the same time bringing new technology into wine sourcing and collecting.”

Crurated creates an NFT for every bottle of wine that enters into its warehouse.

This provides information on the likes of ownership history, vintage, vineyard location, and varietal.

It is accessible by tapping on an NFC or RFID enabled phone. The bottle history is also updated via a new blockchain recording anytime the wine is resold and the token moves from one client to another.