WiV Technology is the first platform to offer physically backed NFTs on the Polygon chain
WiV Technology adopts the Polygon chain, becomes the first platform to offer non-fungible tokens (NFTs) backed by physical assets on the chain.
OSLO, NORWAY, May 17, 2021 / — WiV Technology, a blockchain-based trading platform for unique assets, has become the first platform to offer non-fungible tokens (NFTs) backed by physical assets on the Polygon chain. WiV enables users to trade fine wine on its platform, utilising the blockchain to make transactions faster, cheaper and more transparent.
Polygon chain is a framework for building and connecting Ethereum-compatible blockchain networks. It offers high throughput, enhanced user experience and full sovereignty, letting platforms such as WiV’s access the thriving Ethereum eco-system without being constrained by any of its limitations as blockchain architecture evolves.
The move is part of WiV’s strategy of making it as simple as possible to trade fine wine and other unique assets via the blockchain. The platform enables vineyards to tokenise and trade their wines across a variety of marketplaces globally, bringing liquidity to an asset class that has consistently outperformed the market but traditionally suffered from high barriers to entry and slow trading practices.
“Integrating the Polygon chain with our WiV wealth technology platform is a major milestone for us,” says Tommy Nordam Jensen, co-founder of WiV. “We have been following Polygon as it has developed and when we reached out to the team, they met us with friendliness and enthusiasm. They have created an important ecosystem with an efficient scaling solution and gas fees that are virtually zero, which makes a massive difference when dealing with assets such as ours. We have several things in development on Polygon, and we are really proud to be able to say that we are the first company launching physical backed NFTs on their chain.”
The Polygon chain will become the mainchain of the WiV platform, making it simple for WiV to integrate with new marketplaces in addition to the presence it already has on Opensea and Arkane.
About WiV Technology
WiV Technology is a blockchain-based unique asset technology designed for wine producers and merchants. With offices in London, Oslo and Singapore, the WiV blockchain technology issues non-fungible tokens to create a secure global asset register and decentralised financial marketplace for fine wine and spirits. WiV facilitates provenance record-keeping, trading liquidity, geolocation and market assurance. For further information, go to www.wiv.io
About Polygon
Polygon, previously Matic Network, is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. Polygon is an opensource project that has been built by developers, for developers. It combines the best of Ethereum and sovereign blockchains into a comprehensive set of features. Polygon strives to empower people to effortlessly join a new, better world. For further information, go to www.polygon.technology
Magnus Allan
WiV Technology
magnus@mdeacommunications.co.uk
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