Cult Wines case study

NFT-based inventory management system

Industry
Retail
Category
Inventory management
Challenge
Cult Wines is transforming the fine wine industry, for producers, collectors, investors or those who simply enjoy it. Combining our expertise with digital platforms, innovative technology and a globalised infrastructure to re-define how consumers buy, sell, invest and collect fine wines.
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Cult Wines engaged Applied Blockchain to develop a wine inventory management platform. The platform had to enable the transfer of wines directly from customer to customer, creating a P2P marketplace and decentralised warehouse solution.
Solution
Applied Blockchain created an Algorand based solution and data oracles that integrated with the existing inventory system. Taxation compliance for collectors was automated by filing disclosure reports for transfers or acquisitions.

Data oracles, platform integrations and automations were implemented with a web service platform. We also developed intuitive and easy to use interfaces, a web app for the operations team and a mobile app for the warehouses.
Outcome
Now it’s possible to verify the case ownership on a custom block explorer and see the history of wine cases location changes. The wine cases are created on Algorand.