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Intercellar, wine market and blockchain
9 October 2024 In Real World Assets

Intercellar: Wine and Blockchain

Founded in June 2023 in Bordeaux (France), globally recognized as the capital of wine, InterCellar aims to modernize the wine and spirits industry through the use of blockchain technology and NFTs (non-fungible tokens). This Bordeaux-based startup, co-founded by Louis de Bonnecaze and Maxime Garraud, offers an innovative concept: selling bottles of wine as certified “digital twins” to facilitate transactions, enhance traceability, and simplify storage for collectors and enthusiasts around the world. Welcome to the world of Real World Assets (RWA).

Table of Contents

A Bordeaux Origin and International Ambition

InterCellar draws on the richness and winemaking tradition of Bordeaux to develop a solution that is firmly focused on the future. Louis de Bonnecaze (Profile X), CEO of the startup, is a former wine merchant who worked for the prestigious Château Haut-Brion estate, a Grand Cru Classé located in the region. A graduate of Kedge Business School, a renowned French business school known for its specializations in management and entrepreneurship, he brings expertise that blends tradition and innovation.

Maxime Garraud, co-founder and Chief Strategy Officer (CSO), focuses on developing strategic partnerships for the startup and ensuring its growth. Together, they aim to address long-standing issues in the industry, such as fraud and the lack of traceability of bottles, by leveraging technology to guarantee the authenticity and provenance of products.

Technology in the Service of Authenticity and Traceability

The core of InterCellar’s offering is based on the creation of “digital twins” for each bottle sold on its platform. A NFT, hosted on the blockchain, is linked to each bottle, thereby ensuring an unforgeable certificate of ownership and authenticity. This technology guarantees complete traceability from production to final consumption, a major challenge in a market estimated at $229.4 billion in 2021, which is heavily affected by counterfeiting and fake wines.

Additionally, by relying on specialized partners like Ziegler, a recognized player in the logistics and storage of valuable goods, InterCellar ensures that bottles are kept under optimal conditions. Ziegler has specially equipped facilities for wine storage, ensuring that each bottle is maintained at controlled temperature and humidity levels. Owners can choose to store their bottles on-site or have them delivered anywhere in the world, thereby reducing the risks associated with frequent transportation.

Strategic partnerships within the Web3 ecosystem

InterCellar does not only modernize the wine sector; it also positions itself within the broader Web3 ecosystem by forming partnerships or connections with leading companies in this field. For instance, PyratzLabs, an incubator dedicated to blockchain and Web3 projects, has supported InterCellar in its technological development and expansion strategy. PyratzLabs is known for assisting startups in the realm of decentralized technologies, providing them with technical resources and a network of experts.

A fundraising round and an ambitious growth strategy

In December 2023, InterCellar closed its first fundraising round of €1 million with 30 business angels from the tech, Web3, and wine sectors. Among the investors are prominent names such as Cyrus Fazel, CEO of SwissBorg, and Bilal El Alamy, CEO of PyratzLabs, Sami Chlagou, CEO of Cross The Ages, and Owen Simonin (Meria, formerly Just Mining). The strategic involvement of these experts provides InterCellar with crucial technological support and expertise in the field of digital assets.

Later in early 2024, the Partouche Group, a major player in the casino industry in France, also invested in the startup. This strategic alliance aims to enhance InterCellar’s offerings in wine and spirits distribution within a Web3 ecosystem by exploring new synergies with digital entertainment platforms and immersive universes developed by the group.

These contributions enable InterCellar to further develop its blockchain technologies, enhance its platform, and strengthen its international presence. Additionally, the startup is actively pursuing collaborations with renowned estates such as Château Malartic-Lagravière and Champagne Carbon to ensure a quality product catalog and lend credibility to its digitized marketplace model.

$CELLAR Token

In 2024, InterCellar plans to launch its own token, $CELLAR, designed to enhance the user experience and strengthen customer loyalty. Holders of this token will enjoy exclusive benefits, such as access to limited editions of fine wines or discounts on storage fees. The token will also allow participation in staking programs, offering variable annual returns based on the length of commitment.

A look towards the future: international growth and sustainable impact

InterCellar’s ambition is to become a key player in the global wine market by combining tradition and innovation. By the end of 2024, the startup aims to list over 200 brands on its platform and continue expanding its network of partners. The goal is to democratize access to the collection of exceptional wines while maintaining the high quality standards that define Bordeaux’s reputation.

By reducing the physical transportation of bottles until their final delivery, InterCellar also helps minimize the environmental impact of the wine industry. This approach aligns with a broader vision where technological innovation serves sustainability goals, ensuring both the authenticity and the reduced carbon footprint of the offered products.

Timeline and Key Events

  • June 2023: InterCellar is founded in Bordeaux, the world-renowned capital of wine, aiming to modernize the wine and spirits industry using blockchain technology and NFTs.
  • December 2023: InterCellar closes its first funding round, raising €1 million from 30 business angels from the tech, Web3, and wine sectors, including notable figures like Cyrus Fazel and Bilal El Alamy.
  • Early 2024: The Partouche group, a major player in the French casino industry, invests in InterCellar, strengthening its wine and spirits distribution within the Web3 ecosystem.
  • March 2024: Launch of the marketplace featuring over 120 brands and collaboration with Crypto.com for exclusive NFT drops (EN PRIMEURS).
  • October 2024: last pre-sale of the $CELLAR loyalty token.

Photo by Andreas Haslinger on Unsplash.

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