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PhillipCapital launches 2020 en primeur NFTs

Singapore based finance house PhillipCapital has issued its first digital ‘En Primeur Wine tokens’, which are linked to a parcel of 36 bottles of fine wines from the 2020 vintage of Bordeaux.

The En Primeur Wine-Tokens includes bottles of Lafite Rothschild, Haut Brion and Mouton Rothschild.

The tokens will be traded on Alta’s exchange platform, Southeast Asia’s largest digital marketplace for alternative investments.

Once the wines are bottled later this year, or alternatively when they mature in 2026, investors can opt to either redeem their tokens by selling the wine, or have them physically collected.

Mr Luke Lim, managing director of parent company Phillip Securities, said their clients had been looking complement their portfolios via alternative investment vehicles.

“Thanks to the emergence of digital asset-backed securities, high-net-worth investors and family offices can add such rare and limited-edition luxury investments to their portfolios,” he said. “This is part of our efforts to understand the changing needs and preferences of our clients and develop new investment opportunities for our clients.”

2021 saw the launch of Southeast Asia’s First Whiskey-Based asset-backed security tokens, which were originally listed on Hg Exchange, a company acquired by Alta in September 2022.

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