Business
eWorld Companies Digitizing and Tokenizing Wine Industry With New Non-Fungible Tokens
eWorld Companies Digitizing and Tokenizing Wine Industry With New Non-Fungible Tokens.
About this update from Eworld Companies, Inc.
[{"type":"text","content":"\n ESCONDIDO, CA, July 18, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- eWorld Companies, Inc. (OTC: EWRC)(“eWorld,” the “Company”), the owner of specialized wine distributor Angelini Trading Company and global innovators of cutting edge technology, today announces its latest initiative to modernize the wine market with the development of Non-Fungible Tokens (“NFTs”) specific to industry. The Company has a growing portfolio of products in the NFT space, including its own cryptocurrency ($VINO), Bitcoin Wine NFT, and a recent acquisition of a 10 percent ownership stake in NFT Distribution Company, Inc. eWorld intends to leverage its expansive network and experience to develop new NFTs that will deliver meaningfully across the wine value chain. “We are at the forefront of wine, spearheading the introduction of the newest technologies for an industry that has operated with minimal innovation for decades,” said Miroslaw (Mirek) Gorny, Chief Executive Officer at eWorld. “We see an opportunity to transform the way wine is produced, distributed, and experienced, by enhancing transparency, authenticity, and engagement, creating new value for wineries and wine collectors alike. We are meticulously growing our portfolio to provide diverse exposure to the wine industry, from the time-tested traditional modalities to the introduction of next generation technology, such as Artificial Intelligence and NFTs, that will complement and modernize the market to meet demand in today’s digital world.” NFTs surged on the scene in 2021, mostly for their novelty and owing to their relationship to blockchain technology. Two years later, the NFT market is starting to mature and be recognized for its utility. Non-fungible means that something is unique and cannot be replaced. A bitcoin is fungible, for example, because one bitcoin is exactly the same as another bitcoin. An NFT, on the other hand, is unique. Tokens are digital assets that exist on a blockchain, a decentralized immutable ledger that records and securely stores transactions. By integrating NFTs into the wine industry, eWorld will enable wineries to establish unique digital assets for each bottle or vintage, effectively digitizing and tokenizing the provenance and authenticity of their wines that can be sold around the world in ...