There’s more than one way to enjoy some of the world’s finest whisky.
As any connoisseur or investor will attest – casks of ‘liquid gold’ can add just as much potency to your portfolio as it can to your liquor collection.
Historically, getting your hands on a whisky cask has been an arduous process. Paperwork, delays, questions over provenance have made the process difficult.
Metacask is modernizing whisky cask investment. By coupling NFTs with the physical casks, we’re removing the barriers between you and some of the world’s finest whisky.
We’re glad to have you on the journey with us. Here are some details on our development to date – and when you can expect to get access.
We’re on schedule to launch our platform in the Fall, a date which was part of our original plan. One thing that has shifted is when we’ll be listing our first whisky cask NFT.
Our intention has always been to list the first NFT with a major auction house or NFT platform. We certainly have the capacity to list it ourselves. But the caliber of the cask and original artwork behind this first NFT is such that listing it at an established auction house will give Metacask extra momentum as we approach the platform launch.
We’re targeting a September date for this NFT auction. We’ve been in discussions with auction houses for some time now and are excited with how things are shaping up. Watch this space for more details soon!
Building on a powerful blockchain
In the meantime, we’re hard at work bringing the world’s premier whisky cask NFT platform to fruition.
Developing a platform that matches our ambitions means working with the best technology out there.
To this end, we’ve partnered with CasperLabs to build the Metacask platform on the enterprise-grade Casper blockchain.
Casper was easily the superior choice. Its exceptional performance and enterprise scalability stood out from the competition.
Being mindful of energy consumption, we were drawn to Casper’s proof-of-stake model. This model uses just a small fraction on the electricity required of other enterprise-level, decentralized networks.
The potential of operating on a blockchain like Casper is vast. We’ll be running the some of the first real-asset NFT auctions on the platform, as well handling various functions (more below) that go above and beyond what other auction platforms do. We’re excited to be playing a part in reshaping how NFT auctions are done.
An emphasis on KYC
One critical difference between Metacask and similar offerings (and indeed, other auction platforms) is that we will operate with a solid know-your-customer (KYC) policy in place.
For a real asset like whisky, KYC is inherently valuable. Provenance plays a big role in determining the true value of a whisky cask, and we want our buyers to have full confidence in knowing who held their asset.
It goes without saying that KYC policies are also a positive from a regulatory perspective. The digital asset industry is still taking shape, and we’re thinking about the long game.
To achieve this, we’ve partnered with Civic, a dominant player in the KYC technology space. KYC verification will be done on-chain, with Civic’s AI-powered capabilities.
It’s an integration that we pushed for – and one that we believe will help draw new and experienced whisky investors alike to the platform.
What’s up ahead
The summer is anything but quiet for us, as we go full speed ahead towards launch in a few months’ time.
We think you’re going to love what we have on offer. For many platforms, the challenge is accessing quality assets to offer. Given our close relationship with VCL Vintners, one of the UK’s top whisky brokers, we have access to thousands of high-quality casks.
There’ll be something for almost every whisky investor – from younger whiskys with longer-term potential to one-of-a-kind casks.
You’ll be among the first to get all the details as launch nears. We’re glad you’re here – and we’re keen to make your jump into the whisky world an enjoyable one. We’re here if you have any questions, feedback or just want to share your enthusiasm.
Stuart Thom, CEO, Metacask