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    Officer fatally shot outside high school basketball game

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    U.S. airstrikes target Iran-backed militias in Syria in Biden’s 1st military action

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    GOP-backed Iowa bill aimed at restricting voting access heads to governor’s desk

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    TRAFFIC UPDATE: I-20 reopens in downtown Atlanta after deadly shooting – Atlanta Journal Constitution

    TRAFFIC UPDATE: I-20 reopens in downtown Atlanta after deadly shooting – Atlanta Journal Constitution

    ‘It’s up to you’ ad campaign encourages hesitant Americans to get coronavirus vaccine

    ‘It’s up to you’ ad campaign encourages hesitant Americans to get coronavirus vaccine

    McConnell throws cold water on Dems’ proposed 1/6 Commission

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    House Democrats aim to pass $1.9 trillion Covid relief bill on Friday

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  • Business

    Economists See Few Monetary Policy Changes With Powell Leading Fed

    Indonesia’s Largest Fleet of Taxis Teams Up To Beat Ride-Hailing Apps

    Olivia Munn’s One-Piece Swimsuit Plunges Further Than You Thought Possible

    Hannah Donker talks being The Weeknd’s love interest in ‘Secrets’

    High Street Retailers Pin Hopes On Discount Splurge In Black Friday Fever

    Bitcoin Is ‘Definitely Not A Fraud,’ CEO of Mobile-Only Bank Revolut Says

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    THE DAY I LEARNED TO STOP HATING LAPTOP DJS

    HOW MALE MODELS GET SUPER RICH IN A FEMALE-DOMINATED INDUSTRY

    WHAT IS LIKE TO WORK AS A SUPER MODEL

    HOW TAYLOR SWIFT HELPED ME LOSE 425 LBS

    LIFETIME UNVEILS FIRST LOOK OF FULLHOUSE MOVIE

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This fund is betting millions on Kentucky whiskey and turning it into crypto assets. Here’s why

Editorial Team by Editorial Team
January 10, 2021
in Uncategorized
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This fund is betting millions on Kentucky whiskey and turning it into crypto assets. Here’s why
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A California-based digital asset specialist purchased 2,500 barrels of new Kentucky whiskey by the end of 2020, betting that the barrels will increase in value by three to five times over the course of five years through the aging process.

Wave Financial’s Kentucky Whiskey 2020 Digital Fund is both a straightforward, $2.5 million investment into an alternative asset as well as a novel experiment in the burgeoning crypto asset space.

After a one-year lockup period completes, Wave Financial will issue digital “tokens,” representing shares in the fund, which investors will be able to trade on a cryptocurrency exchange while the barrels are being held in storage, creating a new market and adding a second tier of complexity to the investment.

“The tokenization is about putting the fractional ownership of the fund onto the blockchain in tokens,” said Benjamin Tsai, Wave Financial’s president and managing partner. “When one barrel gets sold, everybody is fractionally enjoying that capture of value.”

Blockchain is an essential technology for cryptocurrencies. In short, it is a novel, decentralized ledger system that verifies and records transactions.

Also read: Cryptocurrency market cap tops $1 trillion with bitcoin above $37,000

In the physical world, Wave Financial will likely sell the barrels over a period, potentially across a few years, depending on Kentucky market conditions. When the barrels are sold, investors will exchange their tokens to Wave for their share of the return on the fund, though the fund may return some capital before all barrels are sold.

The group’s market research projects that a single barrel of new Kentucky whiskey will increase in value from around $1,000 to between $3,000 and $5,000, or more, after five years. Even including high costs associated with selling the liquor, the group projects returns of at least three times the initial investment.

When Wave Financial was searching for an investment that could be turned into a digital token, hard assets were the obvious choice. The reason they settled on whiskey is because of the investment case and the liquidity of the market for selling mature whiskey. However, there are some key risks involved in the investment, including the changing tastes of consumers.

Following the 2020 fundraising, Wave Financial is already planning for a 2021 version of the fund.

Read the full profile of the fund on Barron’s.

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